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Here's Why Reddit Inc. (RDDT) Gained But Lagged the Market Today
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Reddit Inc. (RDDT - Free Report) closed at $64.56 in the latest trading session, marking a +1.41% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 1.7%. Elsewhere, the Dow saw an upswing of 1.26%, while the tech-heavy Nasdaq appreciated by 2.51%.
Shares of the company have appreciated by 11.9% over the course of the past month, outperforming the Computer and Technology sector's loss of 1.45% and the S&P 500's gain of 1.27%.
Analysts and investors alike will be keeping a close eye on the performance of Reddit Inc. in its upcoming earnings disclosure.
Any recent changes to analyst estimates for Reddit Inc. should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Reddit Inc. currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 79, positioning it in the top 32% of all 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Here's Why Reddit Inc. (RDDT) Gained But Lagged the Market Today
Reddit Inc. (RDDT - Free Report) closed at $64.56 in the latest trading session, marking a +1.41% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 1.7%. Elsewhere, the Dow saw an upswing of 1.26%, while the tech-heavy Nasdaq appreciated by 2.51%.
Shares of the company have appreciated by 11.9% over the course of the past month, outperforming the Computer and Technology sector's loss of 1.45% and the S&P 500's gain of 1.27%.
Analysts and investors alike will be keeping a close eye on the performance of Reddit Inc. in its upcoming earnings disclosure.
Any recent changes to analyst estimates for Reddit Inc. should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Reddit Inc. currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 79, positioning it in the top 32% of all 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.