Reddit Inc Class A (RDDT) Gets a Buy from Truist Financial
Truist Financial analyst Youssef Squali maintained a Buy rating on Reddit Inc Class A today and set a price target of $260.00.
Easter Sale - 70% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
According to TipRanks, Squali is a 3-star analyst with an average return of 2.2% and a 43.29% success rate. Squali covers the Communication Services sector, focusing on stocks such as Reddit Inc Class A, Angi, and Meta Platforms.
In addition to Truist Financial, Reddit Inc Class A also received a Buy from Needham’s Laura Martin in a report issued on April 2. However, today, Wells Fargo maintained a Hold rating on Reddit Inc Class A (NYSE: RDDT).
Based on Reddit Inc Class A’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $725.61 million and a net profit of $251.6 million. In comparison, last year the company earned a revenue of $427.71 million and had a net profit of $71.04 million
Based on the recent corporate insider activity of 169 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RDDT in relation to earlier this year. Last month, SARAH E FARRELL, a Director at RDDT bought 10,500.00 shares for a total of $1,388,730.00.
Read More on RDDT:
Disclaimer & DisclosureReport an Issue
- Reddit price target lowered to $260 from $275 at Truist
- Reddit price target lowered to $149 from $196 at Wells Fargo
- Reddit: Selling Trust at Scale as the Web’s Human Verification Layer in an AI-Driven Internet
- Reddit price target lowered to $175 from $205 at BofA
- Reddit’s (RDDT) Valuation Reset Creates Opportunity. Yet Timing Still Matters
