Reddit (NYSE:RDDT) Price Target Raised to $300.00 at Needham & Company LLC

Key Points

• Needham & Company LLC has raised Reddit's price target from $215.00 to $300.00, indicating a potential upside of 17.91% from the stock's previous close.
• Reddit's stock is currently rated as a "buy" by multiple analysts, with thirteen giving a Buy rating and two rating it as Strong Buy.
• In its latest earnings report, Reddit posted a revenue of $499.63 million, significantly exceeding expectations, and reported earnings per share of $0.45.

Reddit (NYSE:RDDT - Get Free Report) had its price target upped by investment analysts at Needham & Company LLC from $215.00 to $300.00 in a research note issued on Monday, Marketbeat.com reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's price target suggests a potential upside of 17.91% from the stock's previous close.

Several other research firms also recently issued reports on RDDT. Jefferies Financial Group boosted their price objective on shares of Reddit from $230.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Sanford C. Bernstein boosted their price objective on shares of Reddit from $130.00 to $150.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 22nd. JMP Securities boosted their price objective on shares of Reddit from $180.00 to $225.00 and gave the stock a "market outperform" rating in a research note on Friday, August 1st. Guggenheim upped their target price on shares of Reddit from $165.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Wells Fargo & Company upped their target price 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. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $184.13.

Reddit Stock Down 2.3%

RDDT opened at $254.44 on Monday. Reddit has a 52-week low of $57.22 and a 52-week high of $266.64. The company has a 50 day moving average of $196.30 and a two-hundred day moving average of $145.56. The company has a market cap of $47.62 billion, a P/E ratio of 231.31, a P/E/G ratio of 4.03 and a beta of 2.38.

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

Insider Transactions at Reddit

In related news, CEO Steve Ladd Huffman sold 18,000 shares of the company's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $223.41, for a total value of $4,021,380.00. Following the sale, the chief executive officer directly owned 494,104 shares of the company's stock, valued at $110,387,774.64. This represents a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Benjamin Seong Lee sold 6,426 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $220.28, for a total transaction of $1,415,519.28. Following the completion of the sale, the insider directly owned 83,445 shares in the company, valued at $18,381,264.60. This represents a 7.15% 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 over the last ninety days. 34.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Reddit

Several institutional investors have recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC acquired a new stake in Reddit in the second quarter valued at $253,000. Infini Capital Management Ltd acquired a new stake in shares of Reddit during the second quarter worth $602,000. Orion Porfolio Solutions LLC acquired a new stake in shares of Reddit during the second quarter worth $201,000. Munro Partners acquired a new stake in shares of Reddit during the second quarter worth $2,802,000. Finally, Nautilus Advisors LLC raised its holdings in shares of Reddit by 30.7% during 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.

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