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Reddit Inc. (RDDT) Stock Moves -1.56%: What You Should Know
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In the latest trading session, Reddit Inc. (RDDT - Free Report) closed at $194.67, marking a -1.56% move from the previous day. Elsewhere, the Dow saw an upswing of 1.14%, while the tech-heavy Nasdaq depreciated by 0.8%.
Coming into today, shares of the company had gained 16.68% in the past month. In that same time, the Computer and Technology sector lost 5.47%, while the S&P 500 lost 1.43%.
Market participants will be closely following the financial results of Reddit Inc. in its upcoming release. The company is forecasted to report an EPS of $0.99, showcasing a 120% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $746.89 million, up 49.49% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $4.83 per share and a revenue of $3.25 billion, demonstrating changes of +84.35% and +47.64%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Reddit Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Reddit Inc. presently features a Zacks Rank of #2 (Buy).
From a valuation perspective, Reddit Inc. is currently exchanging hands at a Forward P/E ratio of 40.92. This expresses a premium compared to the average Forward P/E of 19.52 of its industry.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 81, this industry ranks in the top 33% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
View the Zacks #1 Rank List
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Reddit Inc. (RDDT) Stock Moves -1.56%: What You Should Know
In the latest trading session, Reddit Inc. (RDDT - Free Report) closed at $194.67, marking a -1.56% move from the previous day. Elsewhere, the Dow saw an upswing of 1.14%, while the tech-heavy Nasdaq depreciated by 0.8%.
Coming into today, shares of the company had gained 16.68% in the past month. In that same time, the Computer and Technology sector lost 5.47%, while the S&P 500 lost 1.43%.
Market participants will be closely following the financial results of Reddit Inc. in its upcoming release. The company is forecasted to report an EPS of $0.99, showcasing a 120% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $746.89 million, up 49.49% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $4.83 per share and a revenue of $3.25 billion, demonstrating changes of +84.35% and +47.64%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Reddit Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Reddit Inc. presently features a Zacks Rank of #2 (Buy).
From a valuation perspective, Reddit Inc. is currently exchanging hands at a Forward P/E ratio of 40.92. This expresses a premium compared to the average Forward P/E of 19.52 of its industry.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 81, this industry ranks in the top 33% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.