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Reddit Inc. (RDDT) Increases Despite Market Slip: Here's What You Need to Know
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Reddit Inc. (RDDT - Free Report) closed the latest trading day at $65.92, indicating a +1.09% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 0.78%. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 0.7%.
Heading into today, shares of the company had gained 8.3% over the past month, outpacing the Computer and Technology sector's loss of 3.17% and the S&P 500's gain of 2.14% in that time.
Market participants will be closely following the financial results of Reddit Inc. in its upcoming release. The company plans to announce its earnings on August 6, 2024.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Reddit Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Reddit Inc. boasts a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 90, this industry ranks in the top 36% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Reddit Inc. (RDDT) Increases Despite Market Slip: Here's What You Need to Know
Reddit Inc. (RDDT - Free Report) closed the latest trading day at $65.92, indicating a +1.09% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 0.78%. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 0.7%.
Heading into today, shares of the company had gained 8.3% over the past month, outpacing the Computer and Technology sector's loss of 3.17% and the S&P 500's gain of 2.14% in that time.
Market participants will be closely following the financial results of Reddit Inc. in its upcoming release. The company plans to announce its earnings on August 6, 2024.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Reddit Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Reddit Inc. boasts a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 90, this industry ranks in the top 36% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.