Reddit, Inc. (NASDAQ:RDDT) saw slight gains Tuesday as analysts struck a measured tone, backing the stock while dialing back price targets.
Analysts Maintain Ratings, Cut Targets
Truist Securities analyst Youssef Squali reiterated a Buy rating on Reddit, lowering his price target to $260 from $275. Meanwhile, Wells Fargo analyst Alec Brondolo maintained an Equal-Weight rating and cut his target to $149 from $196.
Insider Selling Disclosed In SEC Filings
Recent SEC filings show insider selling by Reddit executives. Chief Technology Officer Christopher Brian Slowe sold 2,000 shares in a transaction executed on Thursday, totaling about $1.28 million at $74.60 per share. Earlier, Chief Operating Officer Jennifer Wong sold 5,660 shares, valued at approximately $5.62 million.
Reddit Technical Analysis
At $138.50, Reddit is trading 2.8% above its 20-day simple moving average (SMA), the stock’s average price over the last 20 sessions, which suggests short-term stabilization after recent selling pressure. At the same time, it’s trading 24.9% below its 100-day SMA, which indicates the intermediate trend is still pointed down.
The moving average convergence divergence (MACD), a trend/momentum measure, is at -4.8022 versus a signal line of -6.3179, a bullish alignment …
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