Company Performance - Reddit Inc. closed at $163.51, down 1.45% from the previous trading session, underperforming the S&P 500, which lost 0.54% [1] - Over the last month, Reddit's shares increased by 25.64%, significantly outperforming the Computer and Technology sector's gain of 3.76% and the S&P 500's gain of 1.5% [1] Earnings and Analyst Forecasts - The investment community is closely monitoring Reddit Inc.'s upcoming earnings report and any recent revisions to analyst forecasts, as these revisions indicate changing near-term business trends [2] - Positive estimate revisions are interpreted as a favorable sign for the company's business outlook [2] Zacks Rank and Performance - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), has shown a strong track record, with 1 stocks averaging an annual return of +25% since 1988 [4] - The Zacks Consensus EPS estimate for Reddit Inc. has increased by 4.79% in the past month, and the company currently holds a Zacks Rank of 2 (Buy) [4] Industry Overview - The Internet - Software industry, part of the Computer and Technology sector, has a Zacks Industry Rank of 34, placing it in the top 14% of over 250 industries [5] - The Zacks Industry Rank assesses the strength of industry groups by calculating the average Zacks Rank of individual stocks, with top-rated industries outperforming the bottom half by a factor of 2 to 1 [5]
Here's Why Reddit Inc. (RDDT) Fell More Than Broader Market