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Reddit Inc. (RDDT) Rises Yet Lags Behind Market: Some Facts Worth Knowing
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In the latest market close, Reddit Inc. (RDDT - Free Report) reached $70.77, with a +0.47% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.97%. On the other hand, the Dow registered a gain of 0.3%, and the technology-centric Nasdaq increased by 1.45%.
Coming into today, shares of the company had gained 22.59% in the past month. In that same time, the Computer and Technology sector gained 8.21%, while the S&P 500 gained 5.41%.
The investment community will be paying close attention to the earnings performance of Reddit Inc. in its upcoming release. The company is slated to reveal its earnings on October 29, 2024.
Investors should also take note of any recent adjustments to analyst estimates for Reddit Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 1.06% higher within the past month. Currently, Reddit Inc. is carrying a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 71, finds itself in the top 29% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Reddit Inc. (RDDT) Rises Yet Lags Behind Market: Some Facts Worth Knowing
In the latest market close, Reddit Inc. (RDDT - Free Report) reached $70.77, with a +0.47% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.97%. On the other hand, the Dow registered a gain of 0.3%, and the technology-centric Nasdaq increased by 1.45%.
Coming into today, shares of the company had gained 22.59% in the past month. In that same time, the Computer and Technology sector gained 8.21%, while the S&P 500 gained 5.41%.
The investment community will be paying close attention to the earnings performance of Reddit Inc. in its upcoming release. The company is slated to reveal its earnings on October 29, 2024.
Investors should also take note of any recent adjustments to analyst estimates for Reddit Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 1.06% higher within the past month. Currently, Reddit Inc. is carrying a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 71, finds itself in the top 29% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.