Reddit’s (RDDT) Buy Rating Reaffirmed at Needham & Company LLC

Posted by Geri Gentry on May 2nd, 2026

Needham & Company LLC reiterated their buy rating on shares of Reddit (NYSE:RDDT – Free Report) in a research note published on Friday,Benzinga reports. Needham & Company LLC currently has a $300.00 price objective on the stock.

Other analysts have also issued research reports about the stock. Jefferies Financial Group cut their target price on shares of Reddit from $285.00 to $250.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Citigroup restated an “outperform” rating on shares of Reddit in a research report on Friday. The Goldman Sachs Group cut their target price on shares of Reddit from $206.00 to $180.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Rothschild & Co Redburn set a $110.00 target price on shares of Reddit in a research report on Monday, April 27th. Finally, Piper Sandler restated an “overweight” rating and issued a $205.00 target price (down from $290.00) on shares of Reddit in a research report on Friday, February 6th. Eighteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $228.61.

Check Out Our Latest Stock Analysis on RDDT

Reddit Price Performance

NYSE:RDDT traded up $19.30 during mid-day trading on Friday, reaching $166.53. The stock had a trading volume of 14,213,044 shares, compared to its average volume of 3,857,244. The stock has a 50-day simple moving average of $144.12 and a two-hundred day simple moving average of $184.31. The stock has a market capitalization of $31.81 billion, a PE ratio of 63.56, a P/E/G ratio of 1.07 and a beta of 2.40. Reddit has a 12 month low of $94.89 and a 12 month high of $282.95.

Reddit (NYSE:RDDT – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.39. The business had revenue of $663.41 million for the quarter, compared to analysts’ expectations of $607.74 million. Reddit had a net margin of 28.60% and a return on equity of 26.78%. The firm’s quarterly revenue was up 69.1% compared to the same quarter last year. During the same period last year, the firm posted $0.13 earnings per share. Equities analysts expect that Reddit will post 4.02 EPS for the current year.

Insider Buying and Selling at Reddit

In related news, COO Jennifer L. Wong sold 39,167 shares of the business’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $161.47, for a total value of $6,324,295.49. Following the transaction, the chief operating officer owned 1,088,451 shares in the company, valued at $175,752,182.97. The trade was a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Christopher Brian Slowe sold 19,036 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $144.05, for a total transaction of $2,742,135.80. Following the completion of the transaction, the chief technology officer owned 185,057 shares in the company, valued at approximately $26,657,460.85. The trade was a 9.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have purchased 61,000 shares of company stock worth $8,870,815 and have sold 280,441 shares worth $40,873,759. Company insiders own 34.25% of the company’s stock.

Hedge Funds Weigh In On Reddit

Several hedge funds and other institutional investors have recently bought and sold shares of RDDT. Raiffeisen Bank International AG acquired a new position in Reddit in the third quarter valued at $25,000. GW&K Investment Management LLC acquired a new position in Reddit in the third quarter valued at $30,000. Ascentis Independent Advisors acquired a new position in Reddit in the first quarter valued at $30,000. Cornerstone Planning Group LLC lifted its holdings in Reddit by 13,500.0% in the third quarter. Cornerstone Planning Group LLC now owns 136 shares of the company’s stock valued at $31,000 after buying an additional 135 shares during the period. Finally, LOM Asset Management Ltd acquired a new position in Reddit in the fourth quarter valued at $33,000.

More Reddit News

Here are the key news stories impacting Reddit this week:

Positive Sentiment: Q1 earnings and revenue beat — Reddit reported EPS of $1.01 (vs. ~$0.62 est.) and revenue of about $663M, a ~69% year‑over‑year jump; ad revenue rose sharply, underscoring improving monetization. Zacks: Reddit Q1 Earnings Beat
Positive Sentiment: Upbeat near-term guidance — management gave Q2 revenue guidance (~$715M–$725M) above Street expectations, signaling continued ad demand momentum. Reuters: Reddit expects revenue above estimates
Positive Sentiment: AI-driven ad products & search improvements gaining traction — exec commentary and coverage point to rising advertiser adoption of lower‑funnel, AI-enhanced ad tools and a ~30% YoY increase in weekly search usage, both supporting higher yield per user. Reuters: AI-driven ad growth fuels outlook TechCrunch: People are finally using Reddit’s search
Positive Sentiment: Analyst support — several firms reaffirmed or raised targets (e.g., Piper Sandler raised its PT to $215; Needham reaffirmed buy with $300 PT; DA Davidson reaffirmed buy at $200), adding buy‑side validation. TickerReport / coverage on Piper Sandler
Neutral Sentiment: Unusual options activity — traders purchased ~80,316 call options (about +88% vs. typical daily call volume), indicating speculative bullish positioning but not guaranteeing directional follow‑through.
Neutral Sentiment: Cantor Fitzgerald raised its price target (to $180) but left a neutral rating — a mixed signal: higher target but not a bullish rating change. Benzinga: Cantor Fitzgerald update
Negative Sentiment: Some analyst conflict and target trimming — Citizens Jmp reduced its target from $250 to $240 (still bullish stance), reflecting differing views on longer‑term upside and leaving room for skepticism about sustainability. Benzinga: Citizens Jmp update

About Reddit

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Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called “subreddits,” each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.

Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.