Reddit (RDDT) to Release Quarterly Earnings on Tuesday

Reddit (NYSE:RDDT) is set to issue its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of -2.34 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Reddit Stock Performance

Shares of Reddit stock opened at 46.28 on Tuesday. Reddit has a 52-week low of 37.35 and a 52-week high of 74.90.

Insider Activity at Reddit

In related news, CFO Andrew Vollero sold 71,765 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of 32.30, for a total transaction of 2,318,009.50. Following the completion of the sale, the chief financial officer now owns 681,660 shares of the company’s stock, valued at 22,017,618. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director David C. Habiger bought 3,000 shares of the stock in a transaction on Monday, March 25th. The shares were bought at an average price of 34.00 per share, with a total value of 102,000.00. Following the completion of the acquisition, the director now owns 24,906 shares in the company, valued at 846,804. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew Vollero sold 71,765 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of 32.30, for a total value of 2,318,009.50. Following the completion of the transaction, the chief financial officer now directly owns 681,660 shares in the company, valued at 22,017,618. The disclosure for this sale can be found here. Insiders sold 1,084,798 shares of company stock valued at $35,038,975 over the last 90 days.

Wall Street Analyst Weigh In

RDDT has been the topic of a number of analyst reports. Citigroup started coverage on shares of Reddit in a research report on Monday, April 15th. They issued a “buy” rating and a $53.00 price objective on the stock. Loop Capital assumed coverage on Reddit in a research report on Monday, April 15th. They set a “buy” rating and a $55.00 price target for the company. JMP Securities assumed coverage on Reddit in a research report on Monday, April 15th. They issued an “outperform” rating and a $53.00 price objective on the stock. Roth Capital restated a “buy” rating on shares of Reddit in a report on Monday, April 15th. Finally, Roth Mkm started coverage on shares of Reddit in a report on Monday, April 15th. They issued a “buy” rating and a $50.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Reddit currently has a consensus rating of “Moderate Buy” and an average price target of 49.20.

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.