Across the recent three months, 18 analysts have shared their insights on Reddit RDDT, expressing a variety of opinions spanning from bullish to bearish.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 9 | 3 | 5 | 1 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 7 | 2 | 3 | 1 | 0 |
| 3M Ago | 1 | 1 | 2 | 0 | 0 |
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $70.72, with a high estimate of $84.00 and a low estimate of $50.00. This current average has increased by 6.65% from the previous average price target of $66.31.
Breaking Down Analyst Ratings: A Detailed Examination
A comprehensive examination of how financial experts perceive Reddit is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Laura Martin | Needham | Maintains | Buy | $75.00 | $75.00 |
| Laura Martin | Needham | Maintains | Buy | $75.00 | $75.00 |
| Doug Anmuth | JP Morgan | Lowers | Neutral | $59.00 | $67.00 |
| Justin Post | B of A Securities | Raises | Neutral | $60.00 | $57.00 |
| Rohit Kulkarni | Roth MKM | Lowers | Buy | $66.00 | $67.00 |
| Thomas Champion | Piper Sandler | Raises | Overweight | $70.00 | $65.00 |
| Vasily Karasyov | Cannonball Research | Announces | Buy | $67.00 | - |
| Richard Greenfield | LightShed Partners | Announces | Buy | $84.00 | - |
| Alan Gould | Loop Capital | Maintains | Buy | $75.00 | $75.00 |
| Josh Beck | Raymond James | Raises | Strong Buy | $70.00 | $65.00 |
| Andrew Boone | JMP Securities | Maintains | Market Outperform | $84.00 | $84.00 |
| Rohit Kulkarni | Roth MKM | Raises | Buy | $67.00 | $61.00 |
| Brian Nowak | Morgan Stanley | Raises | Equal-Weight | $70.00 | $63.00 |
| Mark Shmulik | Bernstein | Raises | Underperform | $50.00 | $45.00 |
| Andrew Boone | JMP Securities | Raises | Market Outperform | $84.00 | $70.00 |
| Doug Anmuth | JP Morgan | Raises | Neutral | $67.00 | $57.00 |
| Alan Gould | Loop Capital | Maintains | Hold | $75.00 | $75.00 |
| Alan Gould | Loop Capital | Raises | Buy | $75.00 | $60.00 |
Key Insights:
- Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Reddit. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Reddit compared to the broader market.
- Price Targets: Analysts predict movements in price targets, offering estimates for Reddit's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.
Capture valuable insights into Reddit's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
Stay up to date on Reddit analyst ratings.
About Reddit
Reddit Inc is engaged in providing internet content. The company provides online services that include gaming, sports, business, crypto, television and others.
Reddit: A Financial Overview
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Revenue Growth: Over the 3 months period, Reddit showcased positive performance, achieving a revenue growth rate of 53.63% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Communication Services sector.
Net Margin: Reddit's net margin excels beyond industry benchmarks, reaching -3.59%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Reddit's ROE stands out, surpassing industry averages. With an impressive ROE of -0.54%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Reddit's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of -0.49%, the company may face hurdles in achieving optimal financial returns.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.01.
The Basics of Analyst Ratings
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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