Reddit, Inc. (NYSE:RDDT – Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at 41.72, but opened at 40.57. Reddit shares last traded at 42.88, with a volume of 404,313 shares trading hands.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on RDDT. JMP Securities began coverage on Reddit in a report on Monday. They set an “outperform” rating and a $53.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Reddit in a report on Tuesday. They issued a “buy” rating and a $50.00 target price on the stock. Bank of America assumed coverage on Reddit in a report on Tuesday. They issued a “neutral” rating and a $46.00 target price on the stock. Citigroup assumed coverage on Reddit in a report on Monday. They issued a “buy” rating and a $53.00 target price on the stock. Finally, JPMorgan Chase & Co. assumed coverage on Reddit in a report on Monday. They issued a “neutral” rating and a $47.00 target price on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of 49.20.
Read Our Latest Stock Report on Reddit
Reddit Trading Up 4.2 %
Insiders Place Their Bets
Institutional Trading of Reddit
An institutional investor recently bought a new position in Reddit stock. Congress Park Capital LLC acquired a new position in Reddit, Inc. (NYSE:RDDT – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,664 shares of the company’s stock, valued at approximately $279,000.
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.
Featured Articles
- Five stocks we like better than Reddit
- What Makes a Stock a Good Dividend Stock?
- Alibaba Stock Analysis: Insights, Trends, and Future Predictions
- 3 Stocks to Protect Your Portfolio from the Coronavirus Contagion
- Salesforce Stock Analysis: Deep Dive into CRM Market Performance
- Investing in Travel Stocks Benefits
- Bargain Hunting: 3 Stocks With RSIs That Scream Oversold
Receive News & Ratings for Reddit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reddit and related companies with MarketBeat.com's FREE daily email newsletter.