Reddit (NYSE:RDDT) Announces Quarterly Earnings Results

Reddit (NYSE:RDDT) posted its earnings results on Wednesday. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.24 by $0.12, Zacks reports. Reddit had a negative return on equity of 40.54% and a negative net margin of 47.83%. Reddit updated its Q1 2025 guidance to EPS.

Reddit Stock Performance

Shares of RDDT stock opened at $200.57 on Friday. Reddit has a twelve month low of $37.35 and a twelve month high of $230.41. The stock’s fifty day simple moving average is $181.65 and its 200 day simple moving average is $117.91.

Insider Activity

In related news, CFO Andrew Vollero sold 19,838 shares of Reddit stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $143.22, for a total transaction of $2,841,198.36. Following the sale, the chief financial officer now directly owns 703,615 shares in the company, valued at $100,771,740.30. This trade represents a 2.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Steve Ladd Huffman sold 14,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $201.96, for a total transaction of $2,827,440.00. Following the completion of the transaction, the chief executive officer now owns 614,394 shares of the company’s stock, valued at approximately $124,083,012.24. This trade represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 245,357 shares of company stock valued at $39,357,388.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Bank of America increased their price objective on Reddit from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday. Jefferies Financial Group raised their price target on shares of Reddit from $120.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Citigroup lifted their price objective on shares of Reddit from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday. Needham & Company LLC increased their target price on shares of Reddit from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Roth Mkm cut Reddit from a “buy” rating to a “neutral” rating and boosted their price target for the company from $116.00 to $195.00 in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $175.45.

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.