Reddit (NYSE:RDDT) Now Covered by Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Reddit (NYSE:RDDT) in a research note published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an equal weight rating and a $149.00 target price on the stock.

RDDT has been the topic of several other reports. Needham & Company LLC restated a “buy” rating and set a $300.00 target price on shares of Reddit in a report on Friday, February 6th. Jefferies Financial Group cut their target price on Reddit from $285.00 to $250.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. The Goldman Sachs Group cut their target price on Reddit from $236.00 to $206.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. Piper Sandler restated an “overweight” rating and set a $205.00 target price (down from $290.00) on shares of Reddit in a report on Friday, February 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $285.00 price target on shares of Reddit in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $238.46.

Reddit Stock Performance

Shares of RDDT opened at $141.13 on Tuesday. The firm has a market cap of $26.96 billion, a PE ratio of 53.87, a PEG ratio of 0.99 and a beta of 2.40. The firm’s 50 day moving average price is $144.41 and its 200 day moving average price is $191.84. Reddit has a twelve month low of $86.88 and a twelve month high of $282.95.

Reddit (NYSE:RDDT) last issued its quarterly earnings data on Thursday, February 5th. The company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.28. Reddit had a net margin of 24.05% and a return on equity of 20.89%. The firm had revenue of $725.61 million for the quarter, compared to analyst estimates of $665.80 million. During the same quarter last year, the firm earned $0.36 earnings per share. The company’s revenue for the quarter was up 69.7% on a year-over-year basis. On average, sell-side analysts anticipate that Reddit will post 1.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Christopher Brian Slowe sold 19,036 shares of Reddit stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $144.05, for a total value of $2,742,135.80. Following the transaction, the chief technology officer directly owned 185,057 shares in the company, valued at approximately $26,657,460.85. The trade was a 9.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jennifer L. Wong sold 33,507 shares of Reddit stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $143.41, for a total value of $4,805,238.87. Following the completion of the transaction, the chief operating officer owned 1,088,451 shares in the company, valued at $156,094,757.91. The trade was a 2.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have acquired 61,000 shares of company stock valued at $8,870,815 and have sold 318,235 shares valued at $54,124,005. Company insiders own 34.25% of the company’s stock.

Hedge Funds Weigh In On Reddit

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Purpose Unlimited Inc. bought a new position in Reddit during the fourth quarter worth $383,000. Rockefeller Capital Management L.P. increased its position in Reddit by 3.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 11,697 shares of the company’s stock worth $2,689,000 after acquiring an additional 340 shares during the period. World Investment Advisors increased its position in Reddit by 37.4% during the fourth quarter. World Investment Advisors now owns 2,533 shares of the company’s stock worth $582,000 after acquiring an additional 689 shares during the period. Corient Private Wealth LLC increased its position in Reddit by 58.5% during the fourth quarter. Corient Private Wealth LLC now owns 8,491 shares of the company’s stock worth $1,949,000 after acquiring an additional 3,134 shares during the period. Finally, SHP Wealth Management bought a new position in Reddit during the fourth quarter worth $78,000.

More Reddit News

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Strong user growth and ad momentum underpin revenue outlook and give investors confidence in continued top-line acceleration. Reddit Benefits From Strong User Growth: A Sign for More Upside?
• Positive Sentiment: CEO Steve Huffman said AI could materially boost engineer productivity (50%–100% or more), signaling management expects to accelerate product development and monetization efforts — a bullish catalyst if execution follows. Reddit CEO Steve Huffman says AI could make engineers ‘50%, 100% or even 10x more productive’
• Neutral Sentiment: Wells Fargo initiated coverage with an Equal Weight rating and a $149 price target — a modest near-term endorsement but not a bullish upgrade. Wells Fargo coverage / Equal Weight $149 PT
• Neutral Sentiment: Truist trimmed its price target from $275 to $260 but kept a Buy rating — lowers some upside expectations yet still reflects strong longer-term conviction. Truist lowers price target to $260
• Neutral Sentiment: Recent coverage pieces and market write-ups note the stock’s outperformance; these help trading momentum but provide little new fundamental information. Reddit Inc. (RDDT) Outperforms Broader Market
• Neutral Sentiment: Reminder of Reddit’s IPO pricing at the top of its range (historical context) — supports the firm’s capital raise narrative but is not a fresh operational catalyst. Reddit prices IPO at top of indicated range
• Negative Sentiment: A new lawsuit challenges Reddit’s ability to monetize user content and to strike AI deals using that content, creating legal and business-model uncertainty that could pressure sentiment if it escalates. Reddit Lawsuit Tests Limits Of User Content Monetization And AI Deals

About Reddit

Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called “subreddits,” each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.

Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.