Reddit (NYSE:RDDT) Given New $275.00 Price Target at Truist Financial

Reddit (NYSE:RDDT) had its price target hoisted by Truist Financial from $265.00 to $275.00 in a research report released on Friday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price objective on shares of Reddit in a research note on Friday, May 1st. UBS Group restated a “buy” rating on shares of Reddit in a research report on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Reddit in a research note on Friday, May 8th. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price target on shares of Reddit in a research report on Wednesday, June 24th. Finally, Piper Sandler reiterated an “overweight” rating and set a $215.00 price objective on shares of Reddit in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $223.16.

Reddit Stock Performance

Shares of Reddit stock opened at $140.67 on Friday. The firm has a market cap of $27.08 billion, a P/E ratio of 32.71 and a beta of 1.93. The firm’s 50-day simple moving average is $176.72 and its 200-day simple moving average is $164.92. Reddit has a twelve month low of $119.27 and a twelve month high of $282.95.

Reddit (NYSE:RDDT) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.30. The firm had revenue of $804.91 million during the quarter, compared to analyst estimates of $731.00 million. Reddit had a net margin of 31.35% and a return on equity of 29.97%. The company’s quarterly revenue was up 61.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 earnings per share. On average, equities analysts forecast that Reddit will post 4.85 earnings per share for the current fiscal year.

Insider Transactions at Reddit

In other news, COO Jennifer L. Wong sold 39,166 shares of Reddit stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $176.94, for a total value of $6,930,032.04. Following the completion of the transaction, the chief operating officer owned 1,050,339 shares in the company, valued at approximately $185,846,982.66. The trade was a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Ladd Huffman sold 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $173.13, for a total value of $3,116,340.00. Following the completion of the transaction, the chief executive officer directly owned 373,814 shares in the company, valued at $64,718,417.82. The trade was a 4.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 169,141 shares of company stock valued at $28,680,845. Corporate insiders own 28.48% of the company’s stock.

Hedge Funds Weigh In On Reddit

Several institutional investors have recently bought and sold shares of RDDT. Sunbelt Securities Inc. boosted its stake in Reddit by 87.5% in the first quarter. Sunbelt Securities Inc. now owns 195 shares of the company’s stock worth $26,000 after purchasing an additional 91 shares in the last quarter. Ascentis Independent Advisors acquired a new stake in shares of Reddit in the first quarter valued at $30,000. LOM Asset Management Ltd acquired a new stake in shares of Reddit in the fourth quarter valued at $33,000. EverSource Wealth Advisors LLC raised its holdings in shares of Reddit by 48.1% in the second quarter. EverSource Wealth Advisors LLC now owns 197 shares of the company’s stock valued at $34,000 after buying an additional 64 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. bought a new position in shares of Reddit in the second quarter valued at about $35,000.

Trending Headlines about Reddit

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Reddit reported second-quarter revenue of approximately $805 million, up 61% year over year, while earnings of $1.25 per share exceeded analysts’ estimates. Advertising demand, higher pricing and user growth supported stronger monetization. Reddit crushes revenue and earnings estimates, issues strong guidance
• Positive Sentiment: Management forecast third-quarter revenue of $860 million to $870 million, above Wall Street’s approximately $830 million expectation. AI-powered advertising tools, product upgrades and continued ad growth are expected to support momentum. Reddit expects revenue above estimates as AI tools attract advertisers
• Positive Sentiment: Analyst sentiment remains mixed but includes bullish views: Truist raised its price target to $275 and maintained a buy rating, while Wedbush kept an outperform rating with a $221 target. KeyCorp also upgraded Reddit to “strong buy.” Reddit analyst actions
• Neutral Sentiment: Reddit is testing a “video Reddit” experience that could let users watch videos and listen to posts in the background, potentially increasing engagement and creating new advertising opportunities over time. Reddit is testing a new way to watch and listen to its viral posts
• Negative Sentiment: The primary selloff trigger was management’s warning that search referrals have become “choppy” or volatile. Investors fear Google’s AI-generated search summaries and other AI search tools could reduce traffic to Reddit, weakening future user growth, engagement and advertising monetization. Reddit Stock Plunges on Choppy Search Referrals Warning
• Negative Sentiment: Investors were also disappointed by slower U.S. daily-user growth and the lack of announced new AI licensing deals, raising questions about Reddit’s longer-term traffic outlook. JPMorgan and Cantor Fitzgerald responded by lowering their price targets to $185 and $170, respectively, while assigning neutral ratings. Reddit earnings: why are investors concerned despite solid headline numbers

Reddit Company Profile

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.