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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 $67.88, indicating a +1.37% change from the previous session's end. This move outpaced the S&P 500's daily loss of 0.19%. Meanwhile, the Dow experienced a drop of 0.7%, and the technology-dominated Nasdaq saw an increase of 0.04%.
The the stock of company has risen by 13.49% in the past month, leading the Computer and Technology sector's gain of 0.73% and the S&P 500's gain of 1.95%.
The upcoming earnings release of Reddit Inc. will be of great interest to investors.
Investors should also take note of any recent adjustments to analyst estimates for Reddit Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 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. Within the past 30 days, our consensus EPS projection has moved 1.06% higher. Reddit Inc. currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 80, finds itself in the top 32% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Increases Despite Market Slip: Here's What You Need to Know
Reddit Inc. (RDDT - Free Report) closed the latest trading day at $67.88, indicating a +1.37% change from the previous session's end. This move outpaced the S&P 500's daily loss of 0.19%. Meanwhile, the Dow experienced a drop of 0.7%, and the technology-dominated Nasdaq saw an increase of 0.04%.
The the stock of company has risen by 13.49% in the past month, leading the Computer and Technology sector's gain of 0.73% and the S&P 500's gain of 1.95%.
The upcoming earnings release of Reddit Inc. will be of great interest to investors.
Investors should also take note of any recent adjustments to analyst estimates for Reddit Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 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. Within the past 30 days, our consensus EPS projection has moved 1.06% higher. Reddit Inc. currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 80, finds itself in the top 32% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.