Reddit (NYSE:RDDT) Given New $300.00 Price Target at Jefferies Financial Group

Key Points

• Jefferies Financial Group has raised its price target for Reddit from $230.00 to $300.00, indicating a potential upside of 25.10% from the current stock price.
• Among various analysts, the consensus rating for Reddit is a "Moderate Buy", with a collective price target averaging at $180.58.
• Reddit's recent earnings report revealed a substantial revenue increase of 77.9% compared to the previous year, with an EPS of $0.45, surpassing expectations of $0.20.

Reddit (NYSE:RDDT - Get Free Report) had its target price upped by investment analysts at Jefferies Financial Group from $230.00 to $300.00 in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm presently has a "buy" rating on the stock. Jefferies Financial Group's price target suggests a potential upside of 17.91% from the company's current price.

A number of other equities research analysts have also recently issued reports on the company. Raymond James Financial reiterated a "strong-buy" rating and issued a $225.00 target price (up from $175.00) on shares of Reddit in a research note on Friday, August 1st. Wall Street Zen upgraded shares of Reddit from a "hold" rating to a "buy" rating in a research note on Sunday, September 7th. Wells Fargo & Company raised their price target on shares of Reddit from $115.00 to $118.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Bank of America raised their price target on shares of Reddit from $130.00 to $150.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Finally, Citigroup raised their price target on shares of Reddit from $158.00 to $163.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Reddit has a consensus rating of "Moderate Buy" and a consensus target price of $180.58.

Reddit Stock Down 2.3%

Shares of Reddit stock traded down $6.10 on Wednesday, hitting $254.44. 3,677,329 shares of the company's stock traded hands, compared to its average volume of 5,714,706. The stock has a market cap of $47.62 billion, a P/E ratio of 231.31, a PEG ratio of 4.13 and a beta of 2.40. The firm's 50-day moving average is $196.30 and its 200 day moving average is $145.81. Reddit has a 52-week low of $57.22 and a 52-week high of $266.64.

Reddit (NYSE:RDDT - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.20 by $0.25. The company had revenue of $499.63 million during the quarter, compared to analysts' expectations of $424.07 million. Reddit had a return on equity of 9.93% and a net margin of 12.97%.The business's revenue was up 77.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. Equities research analysts forecast that Reddit will post 1.12 EPS for the current year.

Insider Buying and Selling

In other Reddit news, CTO Christopher Brian Slowe sold 28,000 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $218.94, for a total transaction of $6,130,320.00. Following the completion of the sale, the chief technology officer directly owned 222,534 shares in the company, valued at approximately $48,721,593.96. This trade represents a 11.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Andrew Vollero sold 30,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $218.09, for a total value of $6,542,700.00. Following the sale, the chief financial officer owned 284,168 shares of the company's stock, valued at $61,974,199.12. The trade was a 9.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 500,777 shares of company stock worth $88,572,016. Company insiders own 34.25% of the company's stock.

Institutional Investors Weigh In On Reddit

Institutional investors have recently made changes to their positions in the company. Financial Perspectives Inc bought a new position in shares of Reddit in the 2nd quarter valued at approximately $34,000. CWM LLC raised its stake in shares of Reddit by 100.0% in the 1st quarter. CWM LLC now owns 256 shares of the company's stock valued at $27,000 after acquiring an additional 128 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of Reddit in the 4th quarter valued at approximately $49,000. Chelsea Counsel Co. bought a new position in shares of Reddit in the 4th quarter valued at approximately $49,000. Finally, Stone House Investment Management LLC bought a new position in shares of Reddit in the 1st quarter valued at approximately $31,000.

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.