B. Riley Increases Reddit (NYSE:RDDT) Price Target to $87.00

Reddit (NYSE:RDDT) had its price target increased by equities researchers at B. Riley from $75.00 to $87.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley’s price target would indicate a potential upside of 12.50% from the stock’s current price. B. Riley also issued estimates for Reddit’s FY2026 earnings at $0.81 EPS, FY2027 earnings at $1.62 EPS and FY2028 earnings at $2.57 EPS.

A number of other research analysts also recently issued reports on the company. Jefferies Financial Group initiated coverage on Reddit in a report on Wednesday, October 9th. They issued a “buy” rating and a $90.00 price target for the company. The Goldman Sachs Group raised their target price on Reddit from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Bank of America upped their price target on Reddit from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Morgan Stanley raised their price objective on Reddit from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Finally, JMP Securities reiterated a “market outperform” rating and set a $84.00 target price on shares of Reddit in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.50.

Reddit Price Performance

Shares of RDDT opened at $77.33 on Monday. The company’s fifty day moving average price is $64.13 and its 200-day moving average price is $59.56. Reddit has a 1-year low of $37.35 and a 1-year high of $81.36.

Reddit (NYSE:RDDT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.25. The firm had revenue of $281.20 million during the quarter, compared to analysts’ expectations of $253.86 million. The company’s revenue for the quarter was up 53.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.70) earnings per share. As a group, equities research analysts predict that Reddit will post -4.1 EPS for the current fiscal year.

Insider Transactions at Reddit

In other news, Director Mary Porter Gale sold 30,000 shares of Reddit stock in a transaction on Monday, August 12th. The stock was sold at an average price of $52.31, for a total transaction of $1,569,300.00. Following the transaction, the director now owns 71,459 shares in the company, valued at $3,738,020.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Reddit news, CEO Steve Ladd Huffman sold 6,714 shares of Reddit stock in a transaction on Friday, August 30th. The stock was sold at an average price of $59.84, for a total value of $401,765.76. Following the sale, the chief executive officer now owns 658,352 shares in the company, valued at $39,395,783.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Porter Gale sold 30,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $52.31, for a total value of $1,569,300.00. Following the transaction, the director now owns 71,459 shares of the company’s stock, valued at approximately $3,738,020.29. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 385,327 shares of company stock worth $23,115,824 in the last ninety days.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale acquired a new position in shares of Reddit in the 1st quarter worth approximately $7,363,000. Commonwealth Equity Services LLC purchased a new position in shares of Reddit during the first quarter worth $1,111,000. VY Capital Management Co. Ltd. acquired a new stake in shares of Reddit in the third quarter valued at $474,403,000. Claro Advisors LLC purchased a new stake in shares of Reddit in the 3rd quarter valued at $2,557,000. Finally, BNP Paribas Financial Markets acquired a new position in Reddit during the 1st quarter worth about $37,000.

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.