JPMorgan Chase & Co. Raises Reddit (NYSE:RDDT) Price Target to $227.00

Reddit (NYSE:RDDT) had its price target hoisted by research analysts at JPMorgan Chase & Co. from $190.00 to $227.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 8.53% from the company’s previous close.

A number of other equities analysts have also weighed in on RDDT. Jefferies Financial Group boosted their price objective on Reddit from $230.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Wall Street Zen upgraded Reddit from a “hold” rating to a “buy” rating in a report on Sunday, September 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of Reddit in a report on Wednesday, October 8th. Piper Sandler reaffirmed an “overweight” rating and set a $290.00 target price on shares of Reddit in a research note on Friday, October 3rd. Finally, Roth Capital set a $210.00 price target on shares of Reddit in a research note on Friday. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.71.

Reddit Trading Up 7.6%

Shares of NYSE RDDT opened at $209.15 on Friday. The stock has a market cap of $39.15 billion, a PE ratio of 120.20, a P/E/G ratio of 3.15 and a beta of 2.23. Reddit has a 12-month low of $79.75 and a 12-month high of $282.95. The company has a 50-day moving average of $223.88 and a 200 day moving average of $170.78.

Reddit (NYSE:RDDT) last issued its earnings results on Thursday, October 30th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.30. The business had revenue of $585.00 million for the quarter, compared to analysts’ expectations of $546.65 million. Reddit had a return on equity of 15.55% and a net margin of 18.33%.The business’s revenue for the quarter was up 67.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.16 EPS. Reddit has set its Q4 2025 guidance at EPS. On average, sell-side analysts forecast that Reddit will post 1.12 EPS for the current fiscal year.

Insider Activity

In other Reddit news, CTO Christopher Brian Slowe sold 14,000 shares of the business’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $197.10, for a total transaction of $2,759,400.00. Following the sale, the chief technology officer directly owned 204,534 shares in the company, valued at $40,313,651.40. This represents a 6.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jennifer L. Wong sold 30,659 shares of the stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $201.82, for a total transaction of $6,187,599.38. Following the sale, the chief operating officer directly owned 1,295,968 shares in the company, valued at $261,552,261.76. This represents a 2.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 419,626 shares of company stock valued at $94,485,676. 34.25% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RDDT. Alliancebernstein L.P. increased its holdings in Reddit by 103.0% during the 1st quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company’s stock worth $593,733,000 after purchasing an additional 2,871,232 shares during the period. Norges Bank acquired a new position in shares of Reddit during the second quarter worth about $294,254,000. Amundi increased its stake in shares of Reddit by 2,060.5% during the second quarter. Amundi now owns 1,307,231 shares of the company’s stock worth $208,294,000 after buying an additional 1,246,725 shares during the period. State Street Corp raised its holdings in Reddit by 138.5% in the second quarter. State Street Corp now owns 2,030,139 shares of the company’s stock valued at $305,678,000 after acquiring an additional 1,178,890 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Reddit by 21,703.0% in the second quarter. Nordea Investment Management AB now owns 1,060,935 shares of the company’s stock worth $164,021,000 after acquiring an additional 1,056,069 shares during the last quarter.

Reddit Company Profile

Reddit, Inc operates a website that organizes digital communities. It organizes communities based on specific interests that enable users to engage in conversations by sharing experiences, submitting links, uploading images and videos, and replying to one another. The company was founded in 2005 and is headquartered in San Francisco, California.