J.P. Morgan Reaffirms Their Hold Rating on Reddit Inc Class A (RDDT)

J.P. Morgan analyst Doug Anmuth maintained a Hold rating on Reddit Inc Class A yesterday and set a price target of $200.00. The company’s shares closed yesterday at $138.86.

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Anmuth covers the Communication Services sector, focusing on stocks such as Meta Platforms, Alphabet Class A, and Alphabet Class C. According to TipRanks, Anmuth has an average return of 15.9% and a 58.33% success rate on recommended stocks.

Currently, the analyst consensus on Reddit Inc Class A is a Moderate Buy with an average price target of $237.36, which is a 70.93% upside from current levels. In a report released on March 5, Bernstein also maintained a Hold rating on the stock with a $190.00 price target.

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 167 insiders, corporate insider sentiment is neutral on the stock. Last month, SARAH E FARRELL, a Director at RDDT bought 50,500.00 shares for a total of $7,482,139.32.