Throughout the last three months, 21 analysts have evaluated Reddit RDDT, offering a diverse set of opinions from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 11 | 3 | 6 | 1 | 0 |
| Last 30D | 2 | 0 | 0 | 0 | 0 |
| 1M Ago | 2 | 0 | 1 | 0 | 0 |
| 2M Ago | 0 | 0 | 0 | 0 | 0 |
| 3M Ago | 7 | 3 | 5 | 1 | 0 |
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $72.62, with a high estimate of $90.00 and a low estimate of $50.00. This upward trend is apparent, with the current average reflecting a 8.78% increase from the previous average price target of $66.76.
Exploring Analyst Ratings: An In-Depth Overview
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 |
|---|---|---|---|---|---|
| John Colantuoni | Jefferies | Announces | Buy | $90.00 | - |
| Laura Martin | Needham | Raises | Buy | $85.00 | $75.00 |
| Doug Anmuth | JP Morgan | Raises | Neutral | $77.00 | $59.00 |
| Naved Khan | B. Riley Securities | Announces | Buy | $75.00 | - |
| 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 |
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: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Reddit compared to the broader market.
- Price Targets: Gaining insights, analysts provide estimates for the future value of Reddit's stock. This comparison reveals trends in analysts' expectations over time.
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Reddit's market position. Stay informed and make well-informed 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: Delving into Financials
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Reddit displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 53.63%. This indicates a notable increase in the company's top-line earnings. When compared to others in the Communication Services sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: Reddit's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of -3.59%, the company showcases strong profitability and effective cost management.
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 excels beyond industry benchmarks, reaching -0.49%. This signifies efficient management of assets and strong financial health.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.01.
How Are Analyst Ratings Determined?
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
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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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