<div id="readability-page-1"><p><span>Reddit (NYSE:RDDT - Get Free Report)</span> had its target price lifted by equities research analysts at JPMorgan Chase &amp; Co.  from $145.00 to $190.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a &#34;neutral&#34; rating on the stock. JPMorgan Chase &amp; Co.'s target price points to a potential downside of 1.78% from the stock's current price.</p><ul><li>MarketBeat Week in Review – 06/23 - 6/27</li></ul><p>Several other brokerages also recently issued reports on RDDT. Wall Street Zen upgraded shares of Reddit from a &#34;hold&#34; rating to a &#34;buy&#34; rating in a research note on Saturday, June 14th. Oppenheimer began coverage on shares of Reddit in a research note on Wednesday, April 16th. They set an &#34;outperform&#34; rating and a $125.00 price target on the stock. The Goldman Sachs Group  reiterated a &#34;neutral&#34; rating and set a $212.00 price target on shares of Reddit in a research note on Friday. Bank of America lifted their price objective on Reddit from $130.00 to $150.00 and gave the company a &#34;neutral&#34; rating in a report on Wednesday. Finally, Roth Capital lifted their price objective on Reddit from $130.00 to $145.00 and gave the company a &#34;neutral&#34; rating in a report on Monday, July 21st. One equities research analyst  has rated the stock with a sell rating, nine have assigned  a hold rating, thirteen have assigned  a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Reddit  has a consensus rating of &#34;Moderate Buy&#34; and a consensus price target of $164.21.</p><p><b>Get Our Latest Report on Reddit</b></p><h2>Reddit Trading Up 20.5%</h2><ul><li>Reddit Stock Ignites: Surge in Call Options Signals Big Bet</li></ul><p>RDDT traded up $32.86 on Friday, reaching $193.45. The company had a trading volume of 19,171,225 shares, compared to its average volume of 7,856,941. Reddit has a one year low of $49.13 and a one year high of $230.41. The company has a fifty day moving average of $135.22 and a 200-day moving average of $138.51. The company has a market capitalization of $35.69 billion, a P/E ratio of 327.17, a PEG ratio of 3.81 and a beta of 2.33. </p><p>Reddit (NYSE:RDDT - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.25. The business had revenue of $499.63 million during the quarter, compared to analyst estimates of $424.07 million. Reddit had a net margin of 8.07% and a return on equity of 5.69%. The firm's revenue was up 77.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) earnings per share.  Research analysts predict that  Reddit will post 1.12 EPS for the current year. </p><h2>Insider Activity</h2><ul><li>3 Tech Stocks You Can't Miss in This Market Cycle</li></ul><p>In other Reddit news, CTO Christopher Brian Slowe sold 16,000 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $145.58, for a total transaction of $2,329,280.00. Following the transaction, the chief technology officer directly owned 241,373 shares in the company, valued at approximately $35,139,081.34. This represents a 6.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andrew Vollero sold 30,000 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $117.64, for a total transaction of $3,529,200.00. Following the transaction, the chief financial officer owned 333,806 shares in the company, valued at approximately $39,268,937.84. The trade was a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 506,809 shares of company stock worth $61,884,325. Corporate insiders own  34.25% of the company's stock. </p><h2>Institutional Inflows and Outflows</h2><p>Large investors have recently added to or reduced their stakes in the business. Financial Perspectives Inc bought a new stake in shares of  Reddit in the 2nd quarter valued at about $34,000.  CWM LLC increased its stake in shares of  Reddit by 100.0% in the 1st quarter. CWM LLC now owns 256 shares of the company's stock valued at $27,000 after acquiring an additional 128 shares during the last quarter.  Fourth Dimension Wealth LLC bought a new stake in shares of  Reddit in the 4th quarter valued at about $49,000.  Chelsea Counsel Co. bought a new stake in shares of  Reddit in the 4th quarter valued at about $49,000.  Finally, Stone House Investment Management LLC bought a new stake in shares of  Reddit in the 1st quarter valued at about $31,000. </p><h2>About Reddit</h2> (Get Free Report)<p>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.</p><h2>Recommended Stories</h2><ul><li>Five stocks we like better than Reddit</li><li>Bank Stocks - Best Bank Stocks to Invest In</li><li>Rocket Lab Reports Next Week: Here’s What Investors Should Know</li><li>Mastering Discipline: Overcoming Emotional Challenges In Trading</li><li>Apple Stock: Big Earnings, Small Move—Time to Buy?</li><li>What Do S&amp;P 500 Stocks Tell Investors About the Market? </li><li>Amazon's Earnings: What Comes Next and How to Play It</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsAndPriceTargetChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPVJERFQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="330" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsAndPriceTargetChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPVJERFQ"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Reddit Right Now?</h2><p>Before you consider Reddit, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Reddit wasn't on the list.</p><p>While Reddit currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

RDDT

<p>JPMorgan Chase & Co. has raised its target price for Reddit (NYSE:RDDT) from $145.00 to $190.00, maintaining a "neutral" rating. This new target suggests a potential downside of 1.78% from the current price. Other brokerages have also issued ratings, with a consensus rating of "Moderate Buy" and a price target of $164.21. Reddit's stock recently traded at $193.45, with a market cap of $35.69 billion and a P/E ratio of 327.17. The company reported strong quarterly earnings, exceeding estimates with $0.45 EPS and $499.63 million in revenue.</p>

Reddit (NYSE:RDDT) Price Target Raised to $190.00