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Reddit Inc. (RDDT) Advances But Underperforms Market: Key Facts
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In the latest market close, Reddit Inc. (RDDT - Free Report) reached $62.36, with a +0.48% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 1.11% for the day. On the other hand, the Dow registered a gain of 1.64%, and the technology-centric Nasdaq increased by 1.03%.
Coming into today, shares of the company had lost 2.39% in the past month. In that same time, the Computer and Technology sector lost 5.32%, while the S&P 500 lost 1.16%.
Investors will be eagerly watching for the performance of Reddit Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 6, 2024.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Reddit Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.91% increase. Reddit Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 96, positioning it in the top 39% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Reddit Inc. (RDDT) Advances But Underperforms Market: Key Facts
In the latest market close, Reddit Inc. (RDDT - Free Report) reached $62.36, with a +0.48% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 1.11% for the day. On the other hand, the Dow registered a gain of 1.64%, and the technology-centric Nasdaq increased by 1.03%.
Coming into today, shares of the company had lost 2.39% in the past month. In that same time, the Computer and Technology sector lost 5.32%, while the S&P 500 lost 1.16%.
Investors will be eagerly watching for the performance of Reddit Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 6, 2024.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Reddit Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.91% increase. Reddit Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 96, positioning it in the top 39% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.