Reddit (NYSE:RDDT) Stock Price Target Lowered at JPMorgan Chase & Co.

Reddit (NYSE:RDDT) had its target price lowered by JPMorgan Chase & Co. from $185.00 to $150.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

RDDT has been the subject of a number of other research reports. DA Davidson cut their price target on shares of Reddit from $200.00 to $185.00 and set a “buy” rating for the company in a report on Friday, September 18th. Wall Street Zen cut shares of Reddit from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Bank of America reaffirmed a “neutral” rating on shares of Reddit in a report on Friday. KeyCorp cut Reddit from an “overweight” rating to a “sector weight” rating in a research report on Friday. Finally, Wells Fargo & Company lowered their target price on Reddit from $142.00 to $110.00 and set an “equal weight” rating on the stock in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.65.

Reddit Trading Up 0.0%

Shares of RDDT opened at $91.74 on Friday. Reddit has a twelve month low of $89.28 and a twelve month high of $263.50. The stock’s 50 day moving average is $150.37 and its two-hundred day moving average is $160.26. The firm has a market capitalization of $17.65 billion, a PE ratio of 18.72, a P/E/G ratio of 0.42 and a beta of 2.05.

Reddit (NYSE:RDDT) last released its earnings results on Thursday, October 29th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.07. The company had revenue of $894.96 million for the quarter, compared to analysts’ expectations of $874.91 million. Reddit had a return on equity of 30.57% and a net margin of 32.10%. The firm’s quarterly revenue was up 53.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. On average, sell-side analysts predict that Reddit will post 5.28 EPS for the current year.

Insider Transactions at Reddit

In other news, Director Robert A. Sauerberg sold 5,128 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $159.92, for a total value of $820,069.76. Following the completion of the sale, the director owned 27,087 shares of the company’s stock, valued at approximately $4,331,753.04. The trade was a 15.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jennifer L. Wong sold 60,000 shares of the stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $150.55, for a total transaction of $9,033,000.00. Following the transaction, the chief operating officer directly owned 1,012,226 shares in the company, valued at $152,390,624.30. The trade was a 5.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 306,052 shares of company stock valued at $49,754,523 over the last quarter. Company insiders own 28.48% of the company’s stock.

Institutional Trading of Reddit

Several hedge funds and other institutional investors have recently bought and sold shares of RDDT. Chicago Partners Investment Group LLC acquired a new stake in Reddit during the third quarter worth about $362,000. Rakuten Investment Management Inc. bought a new stake in shares of Reddit in the 3rd quarter worth approximately $3,611,000. Provenance Wealth Advisors LLC bought a new stake in shares of Reddit in the 3rd quarter worth approximately $775,000. Integrity Alliance LLC. boosted its position in Reddit by 4.3% during the 3rd quarter. Integrity Alliance LLC. now owns 2,536 shares of the company’s stock valued at $361,000 after purchasing an additional 104 shares during the period. Finally, Oregon Public Employees Retirement Fund acquired a new position in Reddit during the 3rd quarter valued at approximately $2,564,000.

Key Headlines Impacting Reddit

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Despite weaker U.S. daily active-user trends, Reddit’s revenue increased 53% year over year and advertising revenue per user rose substantially, suggesting strong engagement and advertiser monetization. A post-selloff analysis argued that the market’s reaction may be excessive. Reddit: Google Is Taking Its Traffic, But The Selloff Has Gone Too Far
• Positive Sentiment: Reddit’s revenue growth has overtaken The Trade Desk’s in a recent comparison, highlighting the company’s continued expansion and improving monetization potential. Reddit vs. The Trade Desk: One’s Revenue Growth Overtook the Other’s Lead
• Neutral Sentiment: RBC Capital reaffirmed its Hold rating, indicating neither a material improvement nor deterioration in its investment view. RBC Capital Reaffirms Their Hold Rating on Reddit
• Negative Sentiment: Investors are concerned that Google’s AI search changes are reducing Reddit’s unpaid search traffic. The company’s move toward a logged-in-only experience could protect monetization but may limit user growth and raise customer-acquisition costs. Reddit Stock Plunges After Google AI Cuts U.S. Traffic
• Negative Sentiment: Several firms reduced expectations: Oppenheimer and Citizens JMP downgraded Reddit to Market Perform, while Citigroup, Cantor Fitzgerald, Truist Financial, B. Riley, Wedbush and Wells Fargo cut their price targets or forecasts. Analyst Rating and Target Changes
• Negative Sentiment: The latest selloff followed quarterly results that beat revenue and earnings estimates but were overshadowed by an unfavorable user outlook, reinforcing concerns about traffic growth and future monetization. Reddit Stock Sinks as Q3 Results Clash With User Outlook

Reddit Company Profile

Reddit, Inc operates a global online platform where users participate in communities organized around shared interests, topics and activities. Members can submit text posts, links, images and videos, as well as comment on and vote on content. The platform includes thousands of communities, commonly known as subreddits, covering subjects such as news, entertainment, technology, sports, finance and lifestyle.

Reddit generates revenue primarily through digital advertising, offering advertisers access to audiences based on community interests and user engagement.