B. Riley Has Strong Estimate for Reddit FY2025 Earnings

Reddit, Inc. (NYSE:RDDT - Free Report) - Investment analysts at B. Riley raised their FY2025 EPS estimates for Reddit in a report released on Tuesday, January 14th. B. Riley analyst N. Khan now expects that the company will earn $0.91 per share for the year, up from their prior estimate of $0.90. B. Riley currently 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. B. Riley also issued estimates for Reddit's FY2026 earnings at $1.60 EPS, FY2027 earnings at $2.83 EPS and FY2028 earnings at $4.28 EPS.

Several other equities research analysts have also recently weighed in on the stock. Needham & Company LLC boosted their price target on shares of Reddit from $120.00 to $190.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Robert W. Baird boosted their price objective on shares of Reddit from $100.00 to $160.00 and gave the company a "neutral" rating in a research report on Wednesday, December 11th. Sanford C. Bernstein increased their price target on Reddit from $65.00 to $85.00 and gave the stock an "underperform" rating in a report on Wednesday, October 30th. Wells Fargo & Company assumed coverage on Reddit in a research note on Wednesday, December 11th. They issued an "overweight" rating and a $206.00 target price on the stock. Finally, Guggenheim assumed coverage on shares of Reddit in a research note on Friday, December 20th. They set a "buy" rating and a $210.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Reddit presently has an average rating of "Moderate Buy" and a consensus price target of $148.25.

Reddit Price Performance

Reddit stock traded up $5.64 during midday trading on Wednesday, reaching $170.46. 5,099,170 shares of the stock traded hands, compared to its average volume of 5,079,301. Reddit has a 12 month low of $37.35 and a 12 month high of $187.69. The stock's fifty day moving average is $155.39 and its 200-day moving average is $98.65.

Reddit (NYSE:RDDT - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.23. Reddit had a negative return on equity of 40.54% and a negative net margin of 47.83%. The firm had revenue of $348.40 million during the quarter, compared to analyst estimates of $313.61 million. The business's revenue was up 67.9% on a year-over-year basis.

Hedge Funds Weigh In On Reddit

Hedge funds have recently modified their holdings of the stock. Ridgewood Investments LLC grew its position in Reddit by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company's stock worth $33,000 after purchasing an additional 100 shares during the last quarter. StoneCrest Wealth Management Inc. lifted its stake in shares of Reddit by 2.6% during the third quarter. StoneCrest Wealth Management Inc. now owns 6,846 shares of the company's stock worth $451,000 after buying an additional 176 shares during the period. AdvisorNet Financial Inc grew its holdings in shares of Reddit by 41.9% during the fourth quarter. AdvisorNet Financial Inc now owns 681 shares of the company's stock valued at $111,000 after buying an additional 201 shares during the last quarter. Whittier Trust Co. acquired a new position in shares of Reddit in the 3rd quarter valued at $42,000. Finally, SOA Wealth Advisors LLC. raised its stake in Reddit by 56.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 1,919 shares of the company's stock worth $126,000 after acquiring an additional 691 shares during the last quarter.

Insiders Place Their Bets

In other news, CTO Christopher Brian Slowe sold 5,000 shares of the company's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $77.48, for a total transaction of $387,400.00. Following the transaction, the chief technology officer now directly owns 30,068 shares of the company's stock, valued at approximately $2,329,668.64. This represents a 14.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jennifer L. Wong sold 33,333 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $176.23, for a total value of $5,874,274.59. Following the sale, the chief operating officer now owns 1,504,297 shares of the company's stock, valued at approximately $265,102,260.31. This represents a 2.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 217,023 shares of company stock worth $31,699,295.

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.