What's Going On With Reddit Shares Thursday?

Reddit, Inc. (NYSE:RDDT) is in the spotlight ahead of second quarter earnings on Thursday after the market closes. Here’s what you need to know.

What To Know: Analysts estimate earnings of 19 cents per share and revenue of $424.73 million. The company guided revenue between $410 million and $430 million, with adjusted EBITDA expected to range from $110 million to $130 million.

Reddit has a strong history of surpassing both revenue and earnings expectations.

Analyst Changes: Ahead of the earnings report, multiple analysts issued price target adjustments.

• B of A Securities analyst Justin Post maintained a Neutral rating on Reddit and raised the price target from $130 to $150.
• Raymond James analyst Josh Beck maintained a Strong Buy rating on Reddit and raised the price target from $150 to $175.
• Needham analyst Laura Martin maintained a Buy rating on Reddit and raised the price target from $145 to $165.
• Bernstein analyst Mark Shmulik maintained a Market Perform rating on Reddit and raised the price target from $130 to $150.
• Roth Capital analyst Rohit Kulkarni maintained a Neutral rating on Reddit and raised the price target from $130 to $145.

Reddit has a consensus price target of $150.67, with the lowest price target at $67.00 and the highest price target at $220.00.

Related Link: Struggling With Market Swings? This Learning Expert’s 3-Step Method Could Be Your Gamechanger

RDDT Price Action: At the time of writing, Reddit stock is trading 5.05% higher at $156.91, according to data from Benzinga Pro.

Image via Shutterstock