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David Habiger, a director at Reddit, Inc. (NASDAQ:RDDT), recently purchased shares worth $100,894 in the company. The social media platform, currently valued at $22 billion, has seen its stock price fluctuate between $37.35 and $230.41 over the past year. The transactions, dated March 12, involved buying a total of 774 shares of Class A Common Stock. The shares were acquired at prices ranging from $129.71 to $131.00 per share. Following these purchases, Habiger’s total direct ownership in Reddit stands at 30,808 shares. According to InvestingPro data, analysts have set price targets ranging from $150 to $235, suggesting potential upside from current levels. For deeper insights into insider trading patterns and comprehensive analysis, investors can access the detailed Pro Research Report, available exclusively on InvestingPro.
In other recent news, Reddit has been the subject of several analyst updates and financial assessments. Reddit’s earnings and revenue figures have been a focal point, with the company reporting a significant increase in ad revenue growth, particularly in the fourth quarter, where it reached 60% year-over-year. This growth was driven by a strong performance across multiple advertising verticals, contributing to Reddit’s first full year of free cash flow profit in 2024, amounting to approximately $216 million. Despite some challenges with daily active user growth, Reddit’s revenue and profitability have shown notable improvements.
Analysts have varied in their outlooks for Reddit’s stock. Raymond (NSE:RYMD) James adjusted its price target to $200 while maintaining a Strong Buy rating, citing Reddit’s substantial user base and the potential of AI technologies. Piper Sandler raised its price target to $220, reflecting confidence in Reddit’s user engagement and monetization strategies. Meanwhile, BofA Securities increased its target to $190, maintaining a Neutral rating, and JPMorgan also raised its target to $185, emphasizing Reddit’s robust revenue growth and profitability.
Conversely, Bernstein SocGen Group reaffirmed its Underperform rating with a price target of $150, noting challenges in user engagement and competition within the digital advertising space. Despite these mixed assessments, Reddit’s ongoing efforts in advertising diversification and profitability appear to be key areas of focus for investors.
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