Reddit (RDDT) Projected to Post Earnings on Wednesday

Reddit (NYSE:RDDT - Get Free Report) will likely be issuing its quarterly earnings data after the market closes on Wednesday, February 12th. Analysts expect the company to announce earnings of $0.24 per share and revenue of $405.06 million for the quarter. Parties interested in participating in the company's conference call can do so using this link.

Reddit Price Performance

Reddit stock traded up $8.91 during midday trading on Friday, reaching $225.42. The stock had a trading volume of 5,437,930 shares, compared to its average volume of 4,349,991. Reddit has a twelve month low of $37.35 and a twelve month high of $227.05. The stock's 50-day simple moving average is $176.42 and its 200 day simple moving average is $113.70.

Insider Activity at Reddit

In other news, CTO Christopher Brian Slowe sold 5,000 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $184.15, for a total transaction of $920,750.00. Following the completion of the sale, the chief technology officer now owns 35,252 shares in the company, valued at approximately $6,491,655.80. This represents a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steve Ladd Huffman sold 14,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $125.98, for a total value of $1,763,720.00. Following the sale, the chief executive officer now owns 651,775 shares of the company's stock, valued at $82,110,614.50. This trade represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 259,357 shares of company stock valued at $41,121,108 over the last three months.

Wall Street Analysts Forecast Growth

RDDT has been the topic of a number of recent research reports. Wells Fargo & Company initiated coverage on Reddit in a research note on Wednesday, December 11th. They set an "overweight" rating and a $206.00 price objective on the stock. Piper Sandler boosted their price objective on Reddit from $150.00 to $197.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 14th. JMP Securities boosted their price objective on Reddit from $160.00 to $190.00 and gave the stock a "market outperform" rating in a research note on Monday, January 27th. Needham & Company LLC boosted their price objective on Reddit from $120.00 to $190.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. Finally, Sanford C. Bernstein boosted their price objective on Reddit from $65.00 to $85.00 and gave the stock an "underperform" rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Reddit has an average rating of "Moderate Buy" and an average price target of $159.70.

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.