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Reddit Inc (NYSE:RDDT) Price Target and Earnings Highlights
Feb 13, 2025 6:11 PM - Danny Green
Image credit: Google Images
- Laura Martin from Needham sets a price target of $220 for Reddit Inc (NYSE:RDDT), indicating a potential increase of about 10.22%.
- Reddit's Q4 results exceeded expectations with revenue of $427.71 million and EPS of 36 cents.
- Despite positive earnings, RDDT's current price is $198.10, down 8.49%.
On February 13, 2025, Laura Martin from Needham set a price target of $220 for Reddit Inc (NYSE:RDDT). At that time, the stock was priced at $199.60, indicating a potential increase of about 10.22%. This announcement, highlighted by Benzinga, came after Reddit analysts raised their forecasts due to strong earnings.
Reddit's fourth-quarter results exceeded expectations, with revenue reaching $427.71 million, surpassing the $405.26 million consensus. Earnings per share were 36 cents, beating the predicted 25 cents. CEO Steve Huffman expressed excitement over these achievements, emphasizing revenue milestones and international growth.
Looking forward, Reddit expects first-quarter revenue between $360 million and $370 million, above the $358.08 million estimate. The company also projects adjusted EBITDA of $80 million to $90 million. Following the earnings report, Reddit's stock rose 1.3%, closing at $216.47.
Despite the positive earnings, RDDT's current price is $198.10, down 8.49% or $18.37. Today, the stock traded between $195.98 and $214.30. Over the past year, it reached a high of $230.41 and a low of $37.35. Reddit's market cap stands at approximately $34.78 billion, with a trading volume of 16.88 million shares today.
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