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Reddit Inc. (RDDT) Stock Declines While Market Improves: Some Information for Investors
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The most recent trading session ended with Reddit Inc. (RDDT - Free Report) standing at $69.40, reflecting a -1.69% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 1.02%. Meanwhile, the Dow experienced a rise of 1.09%, and the technology-dominated Nasdaq saw an increase of 1.18%.
Prior to today's trading, shares of the company had gained 14.69% over the past month. This has outpaced the Computer and Technology sector's gain of 8.46% and the S&P 500's gain of 4.44% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Reddit Inc. in its upcoming earnings disclosure.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Reddit Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Reddit Inc. presently features a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 90, placing it within the top 36% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Reddit Inc. (RDDT) Stock Declines While Market Improves: Some Information for Investors
The most recent trading session ended with Reddit Inc. (RDDT - Free Report) standing at $69.40, reflecting a -1.69% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 1.02%. Meanwhile, the Dow experienced a rise of 1.09%, and the technology-dominated Nasdaq saw an increase of 1.18%.
Prior to today's trading, shares of the company had gained 14.69% over the past month. This has outpaced the Computer and Technology sector's gain of 8.46% and the S&P 500's gain of 4.44% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Reddit Inc. in its upcoming earnings disclosure.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Reddit Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Reddit Inc. presently features a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 90, placing it within the top 36% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.