Reddit (RDDT) Stock Forecast & Price Target

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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

Moderate Buy
Based on 16 Analyst Ratings

Consensus Price Target

N/A

Type	Current 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/A	N/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 Target	N/A	N/A	N/A	N/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.

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.

Reddit Stock vs. The Competition

Type	Reddit	Computer and Technology Companies
Consensus Rating Score	2.56	2.60
Consensus Rating	Moderate Buy	Moderate Buy
News Sentiment Rating	Neutral News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

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Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target
6/18/2024	Needham & Company LLC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$63.00 ➝ $75.00
5/17/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$65.00 ➝ $70.00
5/17/2024	JMP Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Market Outperform ➝ Market Outperform	$63.00
5/17/2024	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$62.00 ➝ $65.00
5/9/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$40.00 ➝ $55.00
5/8/2024	Sanford C. Bernstein Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Underperform ➝ Underperform	$40.00 ➝ $45.00
Get the Latest News and Ratings for RDDT and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Reddit and its competitors with MarketBeat's FREE daily newsletter.
5/8/2024	Roth Mkm Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$50.00 ➝ $61.00
5/8/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$50.00 ➝ $65.00
5/8/2024	Robert W. Baird Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$50.00 ➝ $59.00
4/16/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Neutral	$46.00
4/15/2024	Roth Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating	R. Kulkarni Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Buy
4/15/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Strong-Buy	$50.00
4/15/2024	Loop Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Buy	$55.00
4/15/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Equal Weight	$45.00
4/15/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Neutral	$47.00
3/26/2024	New Street Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Neutral	$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.
What analysts cover Reddit?: Reddit has been rated by research analysts at Bank of America, Citigroup, Deutsche Bank Aktiengesellschaft, JMP Securities, JPMorgan Chase & Co., Loop Capital, Morgan Stanley, Needham & Company LLC, New Street Research, Piper Sandler, Raymond James, Robert W. Baird, Roth Capital, Roth Mkm, Sanford C. Bernstein, and The Goldman Sachs Group in the past 90 days.