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Reddit Inc. (RDDT) Advances While Market Declines: Some Information for Investors
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In the latest trading session, Reddit Inc. (RDDT - Free Report) closed at $75.17, marking a +0.4% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 0.76% for the day. Meanwhile, the Dow lost 0.75%, and the Nasdaq, a tech-heavy index, lost 1.01%.
The the stock of company has risen by 26.58% in the past month, leading the Computer and Technology sector's gain of 5.51% and the S&P 500's gain of 4.31%.
Market participants will be closely following the financial results of Reddit Inc. in its upcoming release. The company plans to announce its earnings on October 29, 2024.
Investors should also pay attention to any latest changes in 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 1.63% 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. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Reddit Inc. (RDDT) Advances While Market Declines: Some Information for Investors
In the latest trading session, Reddit Inc. (RDDT - Free Report) closed at $75.17, marking a +0.4% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 0.76% for the day. Meanwhile, the Dow lost 0.75%, and the Nasdaq, a tech-heavy index, lost 1.01%.
The the stock of company has risen by 26.58% in the past month, leading the Computer and Technology sector's gain of 5.51% and the S&P 500's gain of 4.31%.
Market participants will be closely following the financial results of Reddit Inc. in its upcoming release. The company plans to announce its earnings on October 29, 2024.
Investors should also pay attention to any latest changes in 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 1.63% 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. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.