What is B. Riley’s Forecast for Reddit FY2029 Earnings?

Reddit, Inc. (NYSE:RDDT) – Investment analysts at B. Riley issued their FY2029 earnings per share estimates for shares of Reddit in a research report issued on Tuesday, January 14th. B. Riley analyst N. Khan expects that the company will earn $6.16 per share for the year. B. Riley has a “Buy” rating and a $187.00 price target on the stock. The consensus estimate for Reddit’s current full-year earnings is ($3.46) per share.

A number of other research firms have also weighed in on RDDT. Robert W. Baird upped their price objective on Reddit from $100.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Morgan Stanley upgraded Reddit from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $200.00 in a report on Monday, December 9th. Needham & Company LLC lifted their price objective on Reddit from $120.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group boosted their price objective on Reddit from $105.00 to $176.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Piper Sandler raised their target price on shares of Reddit from $150.00 to $197.00 and gave the company an “overweight” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.25.

Reddit Stock Up 3.4 %

Shares of RDDT opened at $170.46 on Thursday. Reddit has a fifty-two week low of $37.35 and a fifty-two week high of $187.69. The firm’s 50 day moving average price is $155.39 and its 200 day moving average price is $98.65.

Reddit (NYSE:RDDT) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.23. The business had revenue of $348.40 million for the quarter, compared to analysts’ expectations of $313.61 million. Reddit had a negative net margin of 47.83% and a negative return on equity of 40.54%. The company’s quarterly revenue was up 67.9% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Ridgewood Investments LLC boosted its stake in shares of Reddit by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock worth $33,000 after buying an additional 100 shares during the period. StoneCrest Wealth Management Inc. raised its stake in Reddit by 2.6% during the 3rd quarter. StoneCrest Wealth Management Inc. now owns 6,846 shares of the company’s stock valued at $451,000 after acquiring an additional 176 shares during the last quarter. AdvisorNet Financial Inc lifted its position in Reddit by 41.9% during the 4th quarter. AdvisorNet Financial Inc now owns 681 shares of the company’s stock worth $111,000 after acquiring an additional 201 shares during the period. Whittier Trust Co. purchased a new position in shares of Reddit in the 3rd quarter valued at approximately $42,000. Finally, SOA Wealth Advisors LLC. grew its stake in shares of Reddit by 56.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 1,919 shares of the company’s stock valued at $126,000 after purchasing an additional 691 shares during the last quarter.

Insider Buying and Selling at Reddit

In other news, CTO Christopher Brian Slowe sold 5,000 shares of Reddit stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $77.48, for a total value of $387,400.00. Following the transaction, the chief technology officer now directly owns 30,068 shares of the company’s stock, valued at $2,329,668.64. The trade was a 14.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Benjamin Seong Lee sold 18,519 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $146.06, for a total transaction of $2,704,885.14. Following the sale, the insider now owns 138,401 shares of the company’s stock, valued at approximately $20,214,850.06. This represents a 11.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 217,023 shares of company stock worth $31,699,295 over the last 90 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.