Estimating Price Trends For Reddit Inc. (NYSE: RDDT)

Reddit Inc. (NYSE:RDDT) does about 3.39M shares in volume on a normal day but saw 2184113 shares change hands in Monday trading. The company now has a market cap of 11.91B USD. Its current market price is $72.81, marking a decrease of -0.22% compared to the previous close of $72.97. The 52 week high reached by this stock is $76.20 whilst the lowest price level in 52 weeks is $37.35.

Reddit Inc. (RDDT) has a 20-day trading average at $63.78 and the current price is -4.45% off the 52-week high compared with 94.94% distance from its 52-week low. The 50-day simple moving average of the closing price is $57.84. If we look at the stock’s price movements over the week, volatility stands at 7.12%, which decreases to 7.09% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 69.07 to suggest the stock is neutral.

The consensus objective for the share price is $62.73, suggesting that the stock has a potential downside of -16.07% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on May 08, 2024 when Needham reiterated the stock to “Buy” and issued a price target of between $55 and $63. BofA Securities initiated its price target at $46.

Reddit Inc. (RDDT) stock is up 13.96% over the week and 21.21% over the past month. Its price is 44.35% year-to-date.

To reach the target analysts have set, the stock logically needs to shrink -16.07 percent from here.

The company has a return on investment of -32.54% and return on equity of -6.23%. Price to book ratio is 6.47 and price to sales ratio is 13.48.