Roth MKM Keeps Their Buy Rating on Reddit Inc Class A (RDDT)

In a report released today, Rohit Kulkarni from Roth MKM maintained a Buy rating on Reddit Inc Class A (RDDT – Research Report), with a price target of $67.00. The company’s shares closed yesterday at $62.06.

According to TipRanks, Kulkarni is ranked #314 out of 8915 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Reddit Inc Class A with a $66.21 average price target, which is a 6.69% upside from current levels. In a report released on July 18, Deutsche Bank also maintained a Buy rating on the stock with a $73.00 price target.

RDDT market cap is currently $10.15B and has a P/E ratio of -16.76.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RDDT in relation to earlier this year. Most recently, in May 2024, Steve Ladd Huffman, the CEO & President of RDDT sold 42,299.00 shares for a total of $2,493,103.06.

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Reddit Inc Class A (RDDT) Company Description:

Reddit is home to thousands of communities, endless conversation, and authentic human connection. Whether you’re into breaking news, sports, TV fan theories, or a never-ending stream of the internet’s cutest animals, there’s a community on Reddit for you.

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