Reddit (NYSE:RDDT) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Reddit (NYSE:RDDT) released its earnings results on Wednesday. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.12, Zacks reports. Reddit had a negative net margin of 47.83% and a negative return on equity of 40.54%. Reddit updated its Q1 2025 guidance to EPS.

Reddit Price Performance

RDDT opened at $200.57 on Friday. Reddit has a twelve month low of $37.35 and a twelve month high of $230.41. The firm has a 50 day moving average price of $181.65 and a 200-day moving average price of $117.91.

Insider Buying and Selling at Reddit

In other news, CEO Steve Ladd Huffman sold 14,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $141.79, for a total value of $1,985,060.00. Following the transaction, the chief executive officer now owns 634,971 shares of the company’s stock, valued at $90,032,538.09. This trade represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jennifer L. Wong sold 33,333 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $128.13, for a total transaction of $4,270,957.29. Following the completion of the sale, the chief operating officer now directly owns 1,542,457 shares of the company’s stock, valued at $197,635,015.41. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 245,357 shares of company stock worth $39,357,388 in the last three months.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RDDT shares. Roth Mkm cut shares of Reddit from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $116.00 to $195.00 in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their target price on Reddit from $142.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday. Robert W. Baird upped their target price on shares of Reddit from $160.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday. Raymond James increased their price objective on shares of Reddit from $200.00 to $250.00 and gave the company a “strong-buy” rating in a research note on Monday. Finally, The Goldman Sachs Group boosted their target price on Reddit from $105.00 to $176.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $175.45.

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.