Roth MKM Reaffirms Their Hold Rating on Reddit Inc Class A (RDDT)

Roth MKM analyst Rohit Kulkarni maintained a Hold rating on Reddit Inc Class A today and set a price target of $185.00.

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According to TipRanks, Kulkarni is a 5-star analyst with an average return of 21.3% and a 60.68% success rate. Kulkarni covers the Communication Services sector, focusing on stocks such as Alphabet Class A, Meta Platforms, and Snap.

In addition to Roth MKM, Reddit Inc Class A also received a Hold from Cantor Fitzgerald’s Deepak Mathivanan in a report issued today. However, on the same day, Piper Sandler reiterated a Buy 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 164 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, Benjamin Seong Lee, the CLO of RDDT sold 6,250.00 shares for a total of $1,625,000.00.