Reddit (NYSE:RDDT) Announces Quarterly Earnings Results

Reddit (NYSE:RDDT - Get Free Report) released its earnings results on Wednesday. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.12, Zacks reports. Reddit had a negative net margin of 47.83% and a negative return on equity of 40.54%. Reddit updated its Q1 2025 guidance to EPS.

Reddit Stock Performance

RDDT stock traded down $8.58 during midday trading on Friday, hitting $196.37. The company's stock had a trading volume of 8,409,200 shares, compared to its average volume of 4,349,991. Reddit has a 52-week low of $37.35 and a 52-week high of $230.41. The firm has a 50-day simple moving average of $182.33 and a 200-day simple moving average of $118.85.

Analyst Ratings Changes

RDDT has been the topic of a number of research reports. B. Riley raised their target price on shares of Reddit from $112.00 to $187.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Raymond James raised their price target on shares of Reddit from $200.00 to $250.00 and gave the stock a "strong-buy" rating in a report on Monday, February 10th. The Goldman Sachs Group raised their price target on shares of Reddit from $105.00 to $176.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. Loop Capital raised their price target on shares of Reddit from $180.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Piper Sandler restated an "overweight" rating and set a $210.00 price target (up previously from $197.00) on shares of Reddit in a report on Thursday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $175.45.

Insider Buying and Selling at Reddit

In other Reddit news, COO Jennifer L. Wong sold 33,333 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $128.13, for a total value of $4,270,957.29. Following the completion of the transaction, the chief operating officer now owns 1,542,457 shares of the company's stock, valued at $197,635,015.41. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Steve Ladd Huffman sold 14,000 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $141.79, for a total transaction of $1,985,060.00. Following the completion of the transaction, the chief executive officer now directly owns 634,971 shares of the company's stock, valued at $90,032,538.09. This represents a 2.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 245,357 shares of company stock valued at $39,357,388 in the last 90 days.

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.