Reddit (RDDT) Expected to Announce Quarterly Earnings on Wednesday

Reddit (NYSE:RDDT) is projected to issue its quarterly earnings data after the market closes on Wednesday, February 12th. Analysts expect the company to announce earnings of $0.24 per share and revenue of $405.47 million for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Reddit Trading Up 6.5 %

RDDT stock opened at $215.42 on Wednesday. Reddit has a 52 week low of $37.35 and a 52 week high of $218.25. The firm has a 50 day moving average of $169.97 and a 200 day moving average of $110.05.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on RDDT shares. Sanford C. Bernstein raised their target price on Reddit from $65.00 to $85.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 30th. Roth Mkm downgraded Reddit from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $116.00 to $195.00 in a report on Wednesday, January 22nd. Jefferies Financial Group increased their price target on shares of Reddit from $120.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Piper Sandler upped their price objective on shares of Reddit from $150.00 to $197.00 and gave the company an “overweight” rating in a report on Tuesday, January 14th. Finally, Guggenheim initiated coverage on shares of Reddit in a research report on Friday, December 20th. They set a “buy” rating and a $210.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.70.

Insider Transactions at Reddit

In other Reddit news, CFO Andrew Vollero sold 19,838 shares of Reddit stock in a transaction on Monday, November 25th. The shares were sold at an average price of $143.22, for a total transaction of $2,841,198.36. Following the sale, the chief financial officer now owns 703,615 shares of the company’s stock, valued at $100,771,740.30. The trade was a 2.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Steve Ladd Huffman sold 14,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $125.98, for a total transaction of $1,763,720.00. Following the completion of the sale, the chief executive officer now owns 651,775 shares of the company’s stock, valued at $82,110,614.50. This trade represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 259,357 shares of company stock valued at $41,121,108 over the last ninety days.

About Reddit

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.