Reddit Inc. (RDDT – Free Report) ended the recent trading session at $176.74, demonstrating a -0.38% swing from the preceding day’s closing price. The stock’s change was less than the S&P 500’s daily loss of 0.04%. Elsewhere, the Dow gained 0.07%, while the tech-heavy Nasdaq lost 0.05%.
Shares of the company have appreciated by 26.68% over the course of the past month, outperforming the Computer and Technology sector’s gain of 5.93% and the S&P 500’s gain of 1.05%.
Market participants will be closely following the financial results of Reddit Inc. in its upcoming release.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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.
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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 4.79% higher. Reddit Inc. is holding a Zacks Rank of #2 (Buy) right now.
The Internet – Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 28, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.
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