What is B. Riley’s Estimate for Reddit FY2029 Earnings?

Reddit, Inc. (NYSE:RDDT) – Stock analysts at B. Riley issued their FY2029 EPS estimates for Reddit in a research report issued to clients and investors on Tuesday, January 14th. B. Riley analyst N. Khan anticipates that the company will earn $6.16 per share for the year. B. Riley has a “Buy” rating and a $187.00 price target on the stock. The consensus estimate for Reddit’s current full-year earnings is ($3.46) per share.

A number of other research firms have also recently weighed in on RDDT. Sanford C. Bernstein upped their price target on shares of Reddit from $65.00 to $85.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company assumed coverage on shares of Reddit in a report on Wednesday, December 11th. They set an “overweight” rating and a $206.00 price objective on the stock. Guggenheim assumed coverage on shares of Reddit in a report on Friday, December 20th. They issued a “buy” rating and a $210.00 target price for the company. Piper Sandler boosted their price target on Reddit from $150.00 to $197.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Bank of America raised their price objective on Reddit from $99.00 to $180.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $148.25.

Reddit Trading Up 3.4 %

NYSE:RDDT opened at $170.46 on Thursday. Reddit has a 1 year low of $37.35 and a 1 year high of $187.69. The stock has a fifty day moving average price of $155.39 and a two-hundred day moving average price of $98.65.

Reddit (NYSE:RDDT) last issued its earnings results on Tuesday, October 29th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.23. Reddit had a negative return on equity of 40.54% and a negative net margin of 47.83%. The business had revenue of $348.40 million during the quarter, compared to the consensus estimate of $313.61 million. Reddit’s revenue for the quarter was up 67.9% on a year-over-year basis.

Insider Activity at Reddit

In other Reddit news, CTO Christopher Brian Slowe sold 5,000 shares of Reddit stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $77.48, for a total value of $387,400.00. Following the completion of the sale, the chief technology officer now directly owns 30,068 shares of the company’s stock, valued at approximately $2,329,668.64. The trade was a 14.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steve Ladd Huffman sold 14,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $125.98, for a total value of $1,763,720.00. Following the completion of the transaction, the chief executive officer now owns 651,775 shares of the company’s stock, valued at $82,110,614.50. This trade represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 217,023 shares of company stock valued at $31,699,295.

Hedge Funds Weigh In On Reddit

Several large investors have recently added to or reduced their stakes in RDDT. Ridgewood Investments LLC increased its stake in shares of Reddit by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock valued at $33,000 after acquiring an additional 100 shares during the last quarter. Whittier Trust Co. purchased a new stake in Reddit in the third quarter valued at approximately $42,000. AdvisorNet Financial Inc increased its position in Reddit by 41.9% during the fourth quarter. AdvisorNet Financial Inc now owns 681 shares of the company’s stock worth $111,000 after purchasing an additional 201 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Reddit during the third quarter worth approximately $85,000. Finally, SOA Wealth Advisors LLC. raised its stake in Reddit by 56.3% during the third quarter. SOA Wealth Advisors LLC. now owns 1,919 shares of the company’s stock worth $126,000 after purchasing an additional 691 shares during the period.

Reddit Company Profile

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.