JMP Securities Sticks to Its Buy Rating for Reddit Inc Class A (RDDT)

In a report released today, Andrew Boone from JMP Securities reiterated a Buy rating on Reddit Inc Class A (RDDT – Research Report), with a price target of $63.00. The company’s shares closed yesterday at $56.38.

Boone covers the Communication Services sector, focusing on stocks such as Alphabet Class A, Taboola.com, and Meta Platforms. According to TipRanks, Boone has an average return of 5.8% and a 49.63% success rate on recommended stocks.

Reddit Inc Class A has an analyst consensus of Moderate Buy, with a price target consensus of $58.40, a 3.58% upside from current levels. In a report released on May 9, Deutsche Numis also maintained a Buy rating on the stock with a $62.00 price target.

The company has a one-year high of $74.90 and a one-year low of $37.35. Currently, Reddit Inc Class A has an average volume of 7.39M.

Based on the recent corporate insider activity of 20 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. Last month, Jennifer L. Wong, the COO of RDDT bought 64,954.00 shares for a total of $426,346.66.

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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.