Reddit (RDDT) to Release Quarterly Earnings on Wednesday

Reddit (NYSE:RDDT - Get Free Report) will likely be posting its Q4 2024 quarterly earnings results after the market closes on Wednesday, February 12th. Analysts expect Reddit to post earnings of $0.24 per share and revenue of $405.06 million for the quarter. Reddit has set its Q1 2025 guidance at EPS.Individual interested in listening to the company's earnings conference call can do so using this link.

Reddit (NYSE:RDDT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.12. Reddit had a negative net margin of 47.83% and a negative return on equity of 40.54%. On average, analysts expect Reddit to post $-3 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Reddit Stock Down 5.1 %

NYSE RDDT traded down $10.97 during trading on Thursday, reaching $205.50. 21,053,064 shares of the stock traded hands, compared to its average volume of 5,606,817. The stock's 50-day moving average price is $180.60 and its 200 day moving average price is $117.29. Reddit has a fifty-two week low of $37.35 and a fifty-two week high of $230.41.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Robert W. Baird boosted their price objective on shares of Reddit from $160.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday. Roth Capital cut shares of Reddit from a "strong-buy" rating to a "hold" rating in a report on Wednesday, January 22nd. Needham & Company LLC upped their price target on shares of Reddit from $190.00 to $220.00 and gave the company a "buy" rating in a report on Thursday. Morgan Stanley upped their price target on shares of Reddit from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Wells Fargo & Company upped their price target on shares of Reddit from $206.00 to $215.00 and gave the company an "overweight" rating in a report on Thursday. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $175.45.

Insiders Place Their Bets

In other Reddit news, CEO Steve Ladd Huffman sold 14,000 shares of the company's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $125.98, for a total transaction of $1,763,720.00. Following the sale, the chief executive officer now directly owns 651,775 shares of the company's stock, valued at approximately $82,110,614.50. This represents a 2.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jennifer L. Wong sold 33,333 shares of the company's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $128.13, for a total transaction of $4,270,957.29. Following the sale, the chief operating officer now directly owns 1,542,457 shares in the company, valued at $197,635,015.41. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 259,357 shares of company stock valued at $41,121,108.

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.