Reddit Inc. (RDDT) Stock Sinks As Market Gains: What You Should Know

In the latest market close, Reddit Inc. (RDDT) reached $172.01, with a -0.18% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.16%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq lost 0.06%.The company's stock has climbed by 10.51% in the past month, exceeding the Computer and Technology sector's loss of 0.17% and the S&P 500's loss of 2.8%.Investors will be eagerly watching for the performance of Reddit Inc. in its upcoming earnings disclosure.Investors should also note any recent changes to analyst estimates for Reddit Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 remained stagnant. Reddit Inc. is currently sporting a Zacks Rank of #3 (Hold).In terms of valuation, Reddit Inc. is currently trading at a Forward P/E ratio of 263.07. For comparison, its industry has an average Forward P/E of 29.33, which means Reddit Inc. is trading at a premium to the group.It's also important to note that RDDT currently trades at a PEG ratio of 7.32. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Internet - Software industry had an average PEG ratio of 2.12.The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 33, this industry ranks in the top 14% of all industries, numbering over 250.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.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.1% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want 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