The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Let's take a look at what these Wall Street heavyweights have to say about Reddit Inc. (RDDT) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Reddit Inc. currently has an a ...

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Reddit (RDDT) shares have surged 167.3% in the year-to-date period compared with the broader Zacks Computer & Technology sector’s appreciation of 30%.RDDT shares have also outperformed the Zacks Internet Software industry and its peer Snap (SNAP) over the same time frame.While Snap shares have plummeted 29% year to date, the industry has appreciated 29.8%.Reddit’s robust stock price performance has been driven by its impressive third-quarter 2024 results.YTD PerformanceImage Source: Zacks Investment Researc ...

Michael Seibel, a director at Reddit, Inc. (NYSE: RDDT), recently sold a substantial portion of his holdings, as disclosed in a filing with the U.S. Securities and Exchange Commission (SEC). On November 1, 2024, Seibel offloaded a total of 82,819 shares of Reddit’s Class A Common Stock across several transactions, generating approximately $9.22 million in proceeds.Form 4 filing detailing Michael Seibel’s sale of Reddit stock. Source: SECThe transactions included the sale of 27,897 shares at $111.26 per shar ...

In the highly saturated yet competitive social media market, Reddit (NYSE: RDDT) stands out. The platform, which aligns more closely with the style of an old-school forum, had its long-anticipated initial public offering (IPO) on March 21. Once RDDT shares hit the secondary market, they opened at $50 — and with the exception of April and early May, they have been in the green ever since. At press time, Reddit stock is trading at $124.62 — after an impressive 70.25% rally on the monthly chart which brought y ...

One of the biggest market debuts of 2024 is also one of its biggest gainers.Most of the companies that went public this year are struggling to stand out. Buying an IPO can be risky. However, 14 of the 186 debutantes of 2024 have more than doubled. Most of them are obscure, but one of this year's biggest rookie winners is a familiar household name.Shares of Reddit (RDDT -3.50%) have more than tripled since the company went public at $34 in March. The online forum that bills itself as a community of communiti ...

Reddit TodayRDDTReddit$110.64 -2.34 (-2.07%) 52-Week Range$37.35▼$123.60Price Target$89.72Add to WatchlistShares of Reddit NYSE: RDDT, the well-known social media giant, surged by as much as 50% last week following a stellar Q3 earnings report that sent the stock to new all-time highs. After pulling back briefly from highs on Thursday, the stock closed the week at $112.98, up an impressive 38.8% on the week, compared to the overall market’s negative 1.38% weekly performance. YTD shares of Reddit are now up ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: Reddit CEO Steve Huffman and company employees celebrate on the New York Stock Exchange trading floor, prior to his company's IPO, March. 21, 2024. Credit: AP Photo/Yuki Iwamura, File Reddit has turned a profit for the first time as a public company. The social platform claimed a profit of $29.9 million, or 16 cents per share, fo ...

Soaring to new highs, Reddit's (RDDT) stock has spiked more than +30% today after crushing its third-quarter expectations after market hours on Tuesday. Standing out in a week that features much anticipated quarterly results from five of the Magnificent 7 big tech stocks, Reddit is making the case for being at a positive inflection point with RDDT sporting a Zacks Rank #2 (Buy). Image Source: Zacks Investment Research Reddit's Strong Q3 Results After launching its IPO earlier in the year, Reddit's online so ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The ...