What is B. Riley's Estimate for Reddit FY2029 Earnings?

Reddit, Inc. (NYSE:RDDT - Free Report) - Research analysts at B. Riley issued their FY2029 earnings per share estimates for Reddit in a research note issued on Tuesday, January 14th. B. Riley analyst N. Khan anticipates that the company will post earnings per share of $6.16 for the year. B. Riley has a "Buy" rating and a $187.00 price objective on the stock. The consensus estimate for Reddit's current full-year earnings is ($3.46) per share.

Other equities analysts also recently issued research reports about the company. Raymond James lifted their price objective on Reddit from $70.00 to $80.00 and gave the stock a "strong-buy" rating in a research report on Thursday, October 10th. Jefferies Financial Group lifted their price objective on Reddit from $120.00 to $175.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Morgan Stanley upgraded Reddit from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $70.00 to $200.00 in a research report on Monday, December 9th. Wells Fargo & Company assumed coverage on Reddit in a research report on Wednesday, December 11th. They issued an "overweight" rating and a $206.00 target price on the stock. Finally, Roth Mkm lifted their target price on Reddit from $89.00 to $116.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $148.25.

Reddit Stock Performance

Reddit stock traded up $0.70 during trading on Thursday, reaching $175.57. 3,369,183 shares of the company were exchanged, compared to its average volume of 4,772,045. Reddit has a 52-week low of $37.35 and a 52-week high of $187.69. The stock's 50 day simple moving average is $157.24 and its two-hundred day simple moving average is $99.68.

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

Insider Buying and Selling

In related news, COO Jennifer L. Wong sold 33,333 shares of the business's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $176.23, for a total transaction of $5,874,274.59. Following the completion of the transaction, the chief operating officer now directly owns 1,504,297 shares of the company's stock, valued at $265,102,260.31. The trade was a 2.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Christopher Brian Slowe sold 5,000 shares of the business's stock in a transaction on Tuesday, October 22nd. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 217,023 shares of company stock valued at $31,699,295 in the last three months.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC boosted its position in shares of Reddit by 31.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 8,786 shares of the company's stock worth $1,436,000 after acquiring an additional 2,096 shares in the last quarter. West Branch Capital LLC acquired a new stake in shares of Reddit in the 4th quarter valued at about $245,000. Harbor Investment Advisory LLC acquired a new stake in shares of Reddit in the 4th quarter valued at about $147,000. UMB Bank n.a. boosted its position in shares of Reddit by 10.8% in the 4th quarter. UMB Bank n.a. now owns 1,533 shares of the company's stock valued at $251,000 after purchasing an additional 150 shares during the period. Finally, LVW Advisors LLC acquired a new stake in shares of Reddit in the 4th quarter valued at about $327,000.

Reddit Company Profile

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.