Reddit (RDDT) Set to Announce Earnings on Tuesday

Reddit (NYSE:RDDT) will release its earnings data after the market closes on Tuesday, May 7th. Analysts expect Reddit to post earnings of -2.34 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Reddit Trading Down 2.2 %

NYSE:RDDT opened at 46.64 on Monday. Reddit has a 52 week low of 37.35 and a 52 week high of 74.90.

Insider Buying and Selling at Reddit

In other news, CFO Andrew Vollero sold 71,765 shares of Reddit stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of 32.30, for a total value of 2,318,009.50. Following the transaction, the chief financial officer now owns 681,660 shares of the company’s stock, valued at approximately 22,017,618. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director David C. Habiger bought 3,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was bought at an average cost of 34.00 per share, for a total transaction of 102,000.00. Following the completion of the acquisition, the director now directly owns 24,906 shares in the company, valued at approximately 846,804. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Andrew Vollero sold 71,765 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of 32.30, for a total transaction of 2,318,009.50. Following the sale, the chief financial officer now owns 681,660 shares in the company, valued at approximately 22,017,618. The disclosure for this sale can be found here. In the last three months, insiders sold 1,084,798 shares of company stock valued at $35,038,975.

Analysts Set New Price Targets

RDDT has been the topic of a number of recent research reports. Piper Sandler started coverage on Reddit in a research note on Monday, April 15th. They issued an “overweight” rating and a $50.00 target price on the stock. Morgan Stanley initiated coverage on shares of Reddit in a research report on Monday, April 15th. They issued an “equal weight” rating and a $45.00 price objective on the stock. Sanford C. Bernstein assumed coverage on shares of Reddit in a research report on Thursday, April 4th. They issued an “underperform” rating and a $40.00 target price for the company. Deutsche Bank Aktiengesellschaft started coverage on Reddit in a report on Tuesday, April 16th. They set a “buy” rating and a $50.00 price target on the stock. Finally, Citigroup began coverage on Reddit in a report on Monday, April 15th. They issued a “buy” rating and a $53.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of 49.20.

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.