Reddit (NYSE:RDDT) PT Raised to $87.00

Reddit (NYSE:RDDT) had its price target upped by B. Riley from $75.00 to $87.00 in a report issued on Monday, Benzinga reports. B. Riley currently has a buy rating on the stock. B. Riley also issued estimates for Reddit’s FY2026 earnings at $0.81 EPS, FY2027 earnings at $1.62 EPS and FY2028 earnings at $2.57 EPS.

RDDT has been the topic of a number of other reports. Cannonball Research started coverage on Reddit in a report on Tuesday, August 6th. They issued a “buy” rating and a $67.00 price target on the stock. Jefferies Financial Group initiated coverage on shares of Reddit in a report on Wednesday, October 9th. They issued a “buy” rating and a $90.00 target price for the company. Raymond James raised their price target on shares of Reddit from $70.00 to $80.00 and gave the company a “strong-buy” rating in a report on Thursday, October 10th. Piper Sandler boosted their price objective on shares of Reddit from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, Needham & Company LLC increased their target price on shares of Reddit from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.78.

Reddit Stock Performance

Shares of RDDT stock opened at $78.62 on Monday. The company’s 50-day simple moving average is $64.58 and its two-hundred day simple moving average is $59.69. Reddit has a one year low of $37.35 and a one year high of $81.36.

Reddit (NYSE:RDDT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.25. The firm had revenue of $281.20 million for the quarter, compared to the consensus estimate of $253.86 million. Reddit’s quarterly revenue was up 53.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.70) EPS. On average, analysts anticipate that Reddit will post -4.1 EPS for the current fiscal year.

Insider Activity at Reddit

In other Reddit news, Director Mary Porter Gale sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $52.73, for a total transaction of $790,950.00. Following the completion of the transaction, the director now directly owns 101,459 shares of the company’s stock, valued at approximately $5,349,933.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Mary Porter Gale sold 15,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $52.73, for a total value of $790,950.00. Following the sale, the director now owns 101,459 shares in the company, valued at $5,349,933.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Christopher Brian Slowe sold 5,000 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $77.48, for a total transaction of $387,400.00. Following the transaction, the chief technology officer now owns 30,068 shares of the company’s stock, valued at $2,329,668.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 390,327 shares of company stock worth $23,503,224 over the last quarter.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Frank Rimerman Advisors LLC purchased a new stake in Reddit in the 3rd quarter worth approximately $1,479,000. DekaBank Deutsche Girozentrale boosted its holdings in Reddit by 5.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 141,800 shares of the company’s stock worth $9,347,000 after buying an additional 6,800 shares in the last quarter. Lyell Wealth Management LP acquired a new stake in Reddit during the third quarter valued at $516,000. Brighton Jones LLC purchased a new position in Reddit in the third quarter valued at $2,898,000. Finally, Foundations Investment Advisors LLC acquired a new position in shares of Reddit in the third quarter worth about $341,000.

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.