Reddit (RDDT) Stock Forecast & Price Target

$63.67

+1.78 (+2.88%)

(As of 09/18/2024 ET)

Reddit - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy
Based on 17 Analyst Ratings

Based on 17 Wall Street analysts who have issued ratings for Reddit in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 17 analysts, 1 has given a sell rating, 6 have given a hold rating, 9 have given a buy rating, and 1 has given a strong buy rating for RDDT.

Consensus Price Target

$65.56
2.97% Upside

High Forecast	$84.00
Average Forecast	$65.56
Low Forecast	$50.00

According to the 17 analysts' twelve-month price targets for Reddit, the average price target is $65.56. The highest price target for RDDT is $84.00, while the lowest price target for RDDT is $50.00. The average price target represents a forecasted upside of 2.97% from the current price of $63.67.

Type	Current Forecast 9/20/23 to 9/19/24	1 Month Ago 8/21/23 to 8/20/24	3 Months Ago 6/22/23 to 6/21/24	1 Year Ago 9/20/22 to 9/20/23
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	N/A
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)	N/A
Buy	9 Buy rating(s)	9 Buy rating(s)	8 Buy rating(s)	N/A
Hold	6 Hold rating(s)	6 Hold rating(s)	6 Hold rating(s)	N/A
Sell	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	N/A
Consensus Price Target	$65.56	$65.56	$57.00	N/A
Forecasted Upside	2.97% Upside	15.48% Upside	12.03% Upside	N/A

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RDDT Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

RDDT Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Reddit Stock vs. The Competition

Type	Reddit	Computer and Technology Companies	S&P 500
Consensus Rating Score	2.59	2.64	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy
Predicted Upside	2.97% Upside	163.78% Upside	7.94% Upside
News Sentiment Rating	Positive News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
9/18/2024	Needham & Company LLC 2 of 5 stars		Reiterated Rating	Buy ➝ Buy	$75.00 ➝ $75.00	+21.18%
8/7/2024	Bank of America 4 of 5 stars		Boost Target	Neutral ➝ Neutral	$57.00 ➝ $60.00	+20.89%
8/7/2024	JPMorgan Chase & Co. 3 of 5 stars		Lower Target	Neutral ➝ Neutral	$67.00 ➝ $59.00	+18.88%
8/7/2024	Roth Mkm Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$67.00 ➝ $66.00	+28.86%
8/7/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$65.00 ➝ $70.00	+28.72%
8/6/2024	Cannonball Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Buy	$67.00	+19.69%
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8/1/2024	Loop Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating	A. Gould Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Buy	$75.00 ➝ $75.00	+23.25%
7/31/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Strong-Buy ➝ Strong-Buy	$65.00 ➝ $70.00	+16.94%
7/30/2024	JMP Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Market Outperform ➝ Market Outperform	$84.00 ➝ $84.00	+43.79%
7/23/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Equal Weight ➝ Equal Weight	$63.00 ➝ $70.00	+1.85%
7/22/2024	Sanford C. Bernstein Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Underperform ➝ Underperform	$45.00 ➝ $50.00	-28.32%
5/17/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$65.00 ➝ $70.00	+11.68%
5/17/2024	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$62.00 ➝ $65.00	+15.29%
5/9/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$40.00 ➝ $55.00	+7.91%
5/8/2024	Robert W. Baird Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$50.00 ➝ $59.00	+19.43%
4/15/2024	Roth Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating	R. Kulkarni Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Buy
3/26/2024	New Street Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Neutral	$54.00	-9.70%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Thursday at 05:30 AM ET.

RDDT Forecast - Frequently Asked Questions

What is Reddit's forecast for 2024?: According to the research reports of 17 Wall Street equities research analysts, the average twelve-month stock price forecast for Reddit is $65.56, with a high forecast of $84.00 and a low forecast of $50.00.
Should I buy or sell Reddit stock right now?: 17 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Reddit in the last twelve months. There is currently 1 sell rating, 6 hold ratings, 9 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" RDDT shares.
Does Reddit's stock price have much upside?: According to analysts, Reddit's stock has a predicted upside of 14.08% based on their 12-month stock forecasts.
Has Reddit been upgraded or downgraded by Wall Street analysts recently?: Over the previous 90 days, Reddit's stock had 1 upgrade and 1 downgrade by analysts.
What analysts cover Reddit?: Reddit has been rated by research analysts at Bank of America, Cannonball Research, JMP Securities, JPMorgan Chase & Co., Loop Capital, Morgan Stanley, Needham & Company LLC, Piper Sandler, Raymond James, Roth Mkm, and Sanford C. Bernstein in the past 90 days.
Do Wall Street analysts like Reddit more than its competitors?: Analysts like Reddit less than other "computer and technology" companies. The consensus rating score for Reddit is 2.59 while the average consensus rating score for "computer and technology" companies is 2.64. Learn more on how RDDT compares to other companies.