Reddit Inc. (RDDT) Ascends While Market Falls: Some Facts to Note

Reddit Inc. (RDDT) ended the recent trading session at $199.55, demonstrating a +0.31% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.51% for the day. Elsewhere, the Dow saw a downswing of 0.75%, while the tech-heavy Nasdaq depreciated by 0.28%.Shares of the company have appreciated by 19.9% over the course of the past month, outperforming the Computer and Technology sector's gain of 0.79% and the S&P 500's gain of 2.87%.Analysts and investors alike will be keeping a close eye on the performance of Reddit Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on February 12, 2025.Investors should also pay attention to any latest changes in analyst estimates for Reddit Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Within the past 30 days, our consensus EPS projection has moved 20.84% higher. At present, Reddit Inc. boasts a Zacks Rank of #2 (Buy).In terms of valuation, Reddit Inc. is presently being traded at a Forward P/E ratio of 251.31. This denotes a premium relative to the industry's average Forward P/E of 30.86.Meanwhile, RDDT's PEG ratio is currently 6.24. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Internet - Software industry stood at 2.24 at the close of the market yesterday.The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 55, finds itself in the top 22% 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.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Reddit Inc. (RDDT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks