The latest trading session saw Reddit Inc. (RDDT) ending at $163.72, denoting a +1.91% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.09%. Elsewhere, the Dow saw an upswing of 0.04%, while the tech-heavy Nasdaq depreciated by 0.1%.
Prior to today's trading, shares of the company had gained 17.89% over the past month. This has outpaced the Computer and Technology sector's gain of 3.04% and the S&P 500's loss of 0.29% in that time.
The upcoming earnings release of Reddit Inc. will be of great interest to investors.
Investors should also note any recent changes to analyst estimates 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 4.79% higher within the past month. Reddit Inc. is holding a Zacks Rank of #2 (Buy) right now.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 31, this industry ranks in the top 13% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Reddit Inc. (RDDT) : Free Stock Analysis Report
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