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Reddit Inc. (RDDT) Stock Moves -1.07%: What You Should Know
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Reddit Inc. (RDDT - Free Report) closed at $142.79 in the latest trading session, marking a -1.07% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.36%. At the same time, the Dow lost 1.64%, and the tech-heavy Nasdaq lost 1.46%.
The stock of company has risen by 3.66% in the past month, leading the Computer and Technology sector's loss of 0.24% and the S&P 500's loss of 1.76%.
Analysts and investors alike will be keeping a close eye on the performance of Reddit Inc. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.62, reflecting a 376.92% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $614.09 million, indicating a 56.51% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.02 per share and revenue of $3.16 billion, indicating changes of +53.44% and +43.44%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Reddit Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.1% higher. Reddit Inc. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Reddit Inc. is holding a Forward P/E ratio of 35.89. This valuation marks a premium compared to its industry average Forward P/E of 19.46.
Also, we should mention that RDDT has a PEG ratio of 1.05. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. RDDT's industry had an average PEG ratio of 1.1 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 142, putting it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
View the Zacks #1 Rank List
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Reddit Inc. (RDDT) Stock Moves -1.07%: What You Should Know
Reddit Inc. (RDDT - Free Report) closed at $142.79 in the latest trading session, marking a -1.07% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.36%. At the same time, the Dow lost 1.64%, and the tech-heavy Nasdaq lost 1.46%.
The stock of company has risen by 3.66% in the past month, leading the Computer and Technology sector's loss of 0.24% and the S&P 500's loss of 1.76%.
Analysts and investors alike will be keeping a close eye on the performance of Reddit Inc. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.62, reflecting a 376.92% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $614.09 million, indicating a 56.51% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.02 per share and revenue of $3.16 billion, indicating changes of +53.44% and +43.44%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Reddit Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.1% higher. Reddit Inc. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Reddit Inc. is holding a Forward P/E ratio of 35.89. This valuation marks a premium compared to its industry average Forward P/E of 19.46.
Also, we should mention that RDDT has a PEG ratio of 1.05. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. RDDT's industry had an average PEG ratio of 1.1 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 142, putting it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.