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Reddit Inc. (RDDT) Stock Declines While Market Improves: Some Information for Investors
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Reddit Inc. (RDDT - Free Report) closed the latest trading day at $59.09, indicating a -0.91% change from the previous session's end. This change lagged the S&P 500's daily gain of 0.54%. Elsewhere, the Dow saw an upswing of 0.72%, while the tech-heavy Nasdaq appreciated by 0.65%.
Heading into today, shares of the company had gained 7.34% over the past month, outpacing the Computer and Technology sector's gain of 3.3% and the S&P 500's gain of 4.86% in that time.
Investors will be eagerly watching for 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 latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Reddit Inc. currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 88, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow RDDT in the coming trading sessions, be sure to utilize Zacks.com.
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Reddit Inc. (RDDT) Stock Declines While Market Improves: Some Information for Investors
Reddit Inc. (RDDT - Free Report) closed the latest trading day at $59.09, indicating a -0.91% change from the previous session's end. This change lagged the S&P 500's daily gain of 0.54%. Elsewhere, the Dow saw an upswing of 0.72%, while the tech-heavy Nasdaq appreciated by 0.65%.
Heading into today, shares of the company had gained 7.34% over the past month, outpacing the Computer and Technology sector's gain of 3.3% and the S&P 500's gain of 4.86% in that time.
Investors will be eagerly watching for 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 latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Reddit Inc. currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 88, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow RDDT in the coming trading sessions, be sure to utilize Zacks.com.