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Reddit (RDDT) Stock Forecast & Price Target

60.21
-0.14 (-0.23%)
(As of 06/18/2024 09:06 PM ET)

Reddit - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Consensus Price Target

N/A

TypeCurrent Forecast
6/20/23 to 6/19/24
1 Month Ago
5/21/23 to 5/20/24
3 Months Ago
3/22/23 to 3/21/24
1 Year Ago
6/20/22 to 6/20/23
Consensus Rating
Moderate Buy
Moderate Buy
N/AN/A
Strong Buy
1 Strong Buy rating(s)
1 Strong Buy rating(s)
N/A N/A
Buy
8 Buy rating(s)
8 Buy rating(s)
N/A N/A
Hold
6 Hold rating(s)
6 Hold rating(s)
N/A N/A
Sell
1 Sell rating(s)
1 Sell rating(s)
N/A N/A
Consensus Price TargetN/AN/AN/AN/A
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RDDT Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.
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RDDT Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.
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Reddit Stock vs. The Competition

TypeRedditComputer and Technology Companies
Consensus Rating Score
2.56
2.60
Consensus RatingModerate BuyModerate Buy
News Sentiment RatingNeutral News
Positive News
DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
6/18/2024Needham & Company LLC
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 Boost TargetBuy ➝ Buy$63.00 ➝ $75.00
5/17/2024Citigroup
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 Boost TargetBuy ➝ Buy$65.00 ➝ $70.00
5/17/2024JMP Securities
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 Reiterated RatingMarket Outperform ➝ Market Outperform$63.00
5/17/2024Deutsche Bank Aktiengesellschaft
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 Boost TargetBuy ➝ Buy$62.00 ➝ $65.00
5/9/2024The Goldman Sachs Group
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 Boost TargetNeutral ➝ Neutral$40.00 ➝ $55.00
5/8/2024Sanford C. Bernstein
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 Boost TargetUnderperform ➝ Underperform$40.00 ➝ $45.00
5/8/2024Roth Mkm
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 Boost TargetBuy ➝ Buy$50.00 ➝ $61.00
5/8/2024Piper Sandler
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 Boost TargetOverweight ➝ Overweight$50.00 ➝ $65.00
5/8/2024Robert W. Baird
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 Boost TargetNeutral ➝ Neutral$50.00 ➝ $59.00
4/16/2024Bank of America
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 Initiated CoverageNeutral$46.00
4/15/2024Roth Capital
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R. Kulkarni
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Reiterated RatingBuy
4/15/2024Raymond James
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 Initiated CoverageStrong-Buy$50.00
4/15/2024Loop Capital
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 Initiated CoverageBuy$55.00
4/15/2024Morgan Stanley
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 Initiated CoverageEqual Weight$45.00
4/15/2024JPMorgan Chase & Co.
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 Initiated CoverageNeutral$47.00
3/26/2024New Street Research
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 Initiated CoverageNeutral$54.00

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Wednesday at 06:12 AM ET.

RDDT Forecast - Frequently Asked Questions

What is Reddit's purchase recommendation?

According to the research reports of 16 Wall Street equities research analysts, The consensus rating for Reddit stock is Moderate Buy based on the current 1 sell rating, 6 hold ratings, 8 buy ratings and 1 strong buy rating for RDDT. Learn more on RDDT's analyst rating history.

Do Wall Street analysts like Reddit more than its competitors?

Analysts like Reddit less than other "computer and technology" companies. The consensus rating score for Reddit is 2.56 while the average consensus rating score for "computer and technology" companies is 2.60. Learn more on how RDDT compares to other companies.


Stock Forecasts and Research Tools

This page (NYSE:RDDT) was last updated on 6/19/2024 by MarketBeat.com Staff

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