Reddit (NYSE:RDDT) Receives Market Outperform Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of Reddit (NYSE:RDDT) in a research note published on Friday morning,Benzinga reports. They currently have a $300.00 target price on the stock.

RDDT has been the topic of a number of other research reports. Piper Sandler restated an “overweight” rating and issued a $290.00 price objective on shares of Reddit in a research report on Friday. Wells Fargo & Company boosted their price objective on shares of Reddit from $115.00 to $118.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 1st. The Goldman Sachs Group restated a “neutral” rating and issued a $212.00 price objective on shares of Reddit in a research report on Friday, August 1st. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Reddit in a research report on Wednesday. Finally, Wolfe Research upgraded shares of Reddit to an “outperform” rating in a research report on Sunday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Reddit has an average rating of “Moderate Buy” and a consensus target price of $201.58.

Reddit Trading Up 3.1%

RDDT stock opened at $207.24 on Friday. The firm’s 50-day moving average price is $224.76 and its two-hundred day moving average price is $156.23. Reddit has a 12-month low of $68.80 and a 12-month high of $282.95. The stock has a market capitalization of $38.79 billion, a price-to-earnings ratio of 188.40, a PEG ratio of 3.16 and a beta of 2.23.

Reddit (NYSE:RDDT) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.25. Reddit had a net margin of 12.97% and a return on equity of 9.93%. The firm had revenue of $499.63 million for the quarter, compared to analysts’ expectations of $424.07 million. During the same quarter in the previous year, the company earned ($0.06) earnings per share. The company’s revenue for the quarter was up 77.9% compared to the same quarter last year. Reddit has set its Q3 2025 guidance at EPS. Equities analysts predict that Reddit will post 1.12 EPS for the current year.

Insider Buying and Selling at Reddit

In related news, CEO Steve Ladd Huffman sold 18,000 shares of the business’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $229.10, for a total transaction of $4,123,800.00. Following the sale, the chief executive officer owned 494,104 shares of the company’s stock, valued at $113,199,226.40. The trade was a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Michelle Marie Reynolds sold 3,214 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $217.69, for a total transaction of $699,655.66. Following the sale, the chief accounting officer directly owned 28,088 shares in the company, valued at $6,114,476.72. The trade was a 10.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 397,834 shares of company stock valued at $86,512,599 over the last three months. 34.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Reddit

Hedge funds have recently bought and sold shares of the business. Resona Asset Management Co. Ltd. increased its holdings in Reddit by 0.3% during the second quarter. Resona Asset Management Co. Ltd. now owns 20,201 shares of the company’s stock valued at $3,023,000 after buying an additional 65 shares during the last quarter. Congress Park Capital LLC increased its holdings in Reddit by 2.0% during the second quarter. Congress Park Capital LLC now owns 3,885 shares of the company’s stock valued at $585,000 after buying an additional 76 shares during the last quarter. Bienville Capital Management LLC increased its holdings in Reddit by 0.5% during the second quarter. Bienville Capital Management LLC now owns 16,153 shares of the company’s stock valued at $2,432,000 after buying an additional 76 shares during the last quarter. Platinum Investment Management Ltd. increased its holdings in Reddit by 4.3% during the second quarter. Platinum Investment Management Ltd. now owns 2,322 shares of the company’s stock valued at $350,000 after buying an additional 95 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in Reddit by 3.5% during the first quarter. Signaturefd LLC now owns 2,859 shares of the company’s stock valued at $300,000 after buying an additional 97 shares during the last quarter.

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.