Reddit (RDDT) Scheduled to Post Earnings on Tuesday

Reddit (NYSE:RDDT) will release its earnings data after the market closes on Tuesday, August 6th. Analysts expect Reddit to post earnings of -0.33 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Reddit (NYSE:RDDT) last posted its quarterly earnings data on Tuesday, May 7th. The company reported -8.19 EPS for the quarter, missing analysts’ consensus estimates of -2.34 by -5.85. The company had revenue of 243.00 million during the quarter, compared to analysts’ expectations of 213.99 million. The company’s quarterly revenue was up 48.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.05) EPS. On average, analysts expect Reddit to post $-5 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Reddit Price Performance

Reddit stock opened at 57.58 on Monday. The stock’s 50-day moving average is 63.35. Reddit has a 52 week low of 37.35 and a 52 week high of 78.08.

Insider Activity

In related news, insider Benjamin Seong Lee sold 20,034 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of 58.94, for a total transaction of 1,180,803.96. Following the transaction, the insider now directly owns 259,312 shares of the company’s stock, valued at approximately 15,283,849.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Michelle Marie Reynolds sold 6,618 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of 58.94, for a total transaction of 390,064.92. Following the transaction, the chief accounting officer now directly owns 89,795 shares of the company’s stock, valued at approximately 5,292,517.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin Seong Lee sold 20,034 shares of Reddit stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of 58.94, for a total value of 1,180,803.96. Following the sale, the insider now owns 259,312 shares in the company, valued at 15,283,849.28. The disclosure for this sale can be found here. Insiders have sold 192,689 shares of company stock valued at $11,357,090 in the last three months.

Analyst Ratings Changes

A number of analysts recently commented on RDDT shares. Citigroup lifted their price objective on Reddit from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Loop Capital raised Reddit from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Thursday. Piper Sandler raised their price target on Reddit from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Roth Mkm raised their price target on Reddit from $61.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Robert W. Baird raised their price target on Reddit from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of 64.80.

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.