Reddit (NYSE:RDDT) Price Target Raised to $300.00

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 price objective increased by Jefferies Financial Group from $230.00 to $300.00 in a report released on Wednesday, MarketBeat reports. The firm currently has a "buy" rating on the stock. Jefferies Financial Group's price objective points to a potential upside of 15.19% from the company's current price.

RDDT has been the subject of several other reports. Roth Capital raised their target price on Reddit from $130.00 to $145.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Wells Fargo & Company raised their target price on Reddit from $115.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Morgan Stanley raised their target price on Reddit from $170.00 to $230.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Guggenheim raised their target price on Reddit from $165.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Wolfe Research raised Reddit to an "outperform" rating in a research report on Sunday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $184.13.

Reddit Stock Performance

Shares of RDDT traded up $6.14 during mid-day trading on Wednesday, hitting $260.43. The company's stock had a trading volume of 2,363,453 shares, compared to its average volume of 7,649,852. The firm has a market capitalization of $48.74 billion, a PE ratio of 236.75, a price-to-earnings-growth ratio of 4.03 and a beta of 2.40. Reddit has a one year low of $57.22 and a one year high of $266.64. The stock's 50-day moving average is $196.30 and its two-hundred day moving average is $145.56.

Reddit (NYSE:RDDT - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.20 by $0.25. The firm 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%.Reddit's quarterly revenue was up 77.9% compared to the same quarter last year. During the same period last year, the business earned ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. Analysts expect that Reddit will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Benjamin Seong Lee sold 6,426 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $220.28, for a total value of $1,415,519.28. Following the completion of the sale, the insider directly owned 83,445 shares in the company, valued at approximately $18,381,264.60. This trade represents a 7.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Christopher Brian Slowe sold 14,000 shares of the firm's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $236.51, for a total value of $3,311,140.00. Following the completion of the sale, the chief technology officer owned 210,534 shares of the company's stock, valued at approximately $49,793,396.34. This trade represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 342,126 shares of company stock valued at $68,827,399 in the last 90 days. 34.25% of the stock is owned by corporate insiders.

Institutional Trading of Reddit

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Valeo Financial Advisors LLC acquired a new stake in shares of Reddit in the second quarter valued at $253,000. Infini Capital Management Ltd acquired a new stake in Reddit in the second quarter worth about $602,000. Orion Porfolio Solutions LLC acquired a new stake in Reddit in the second quarter worth about $201,000. Munro Partners acquired a new stake in Reddit in the second quarter worth about $2,802,000. Finally, Nautilus Advisors LLC increased its position in Reddit by 30.7% in the second quarter. Nautilus Advisors LLC now owns 4,618 shares of the company's stock worth $695,000 after purchasing an additional 1,085 shares during the period.

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.