Roth MKM Keeps Their Hold Rating on Reddit Inc Class A (RDDT)
Roth MKM analyst Rohit Kulkarni maintained a Hold rating on Reddit Inc Class A yesterday and set a price target of $145.00.
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Kulkarni covers the Communication Services sector, focusing on stocks such as Snap, Alphabet Class A, and Reddit Inc Class A. According to TipRanks, Kulkarni has an average return of 15.1% and a 55.46% success rate on recommended stocks.
In addition to Roth MKM, Reddit Inc Class A also received a Hold from Bank of America Securities’s Justin Post in a report issued on July 31. However, on the same day, KeyBanc maintained a Buy rating on Reddit Inc Class A (NYSE: RDDT).
Based on Reddit Inc Class A’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $804.91 million and a net profit of $252.85 million. In comparison, last year the company earned a revenue of $499.63 million and had a net profit of $89.3 million
Based on the recent corporate insider activity of 169 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RDDT in relation to earlier this year. Last month, Steve Ladd Huffman, the CEO & President of RDDT sold 18,000.00 shares for a total of $3,116,400.85.
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