After the strong price increase that has been seen over the past few weeks, it appears opportune to anticipate a correction phase for shares in Reddit, Inc., as the resistance around 65.11 USD approaches.
Strengths
● Over the past four months, analysts' average price target has been revised upwards significantly.
● The opinion of analysts covering the stock has improved over the past four months.
Weaknesses
● For the last twelve months, the analysts covering the company have given a bearish overview of EPS estimates, resulting in frequent downward revisions.
● The three month average target prices set by analysts do not offer high potential in comparison with the current prices.
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Reddit, Inc. operates a social platform, Reddit. The Company operates mobile applications and a Website that allows users to form communities and create and share content. Reddit is focused on bringing community, belonging, and empowerment to everyone in the world. Reddit is a global, digital city where anyone can join a community to learn from one another, engage in authentic conversations, explore passions, research new hobbies, exchange goods and services, create new communities and experiences, share a few laughs, and find belonging. Reddit has thousands of communities, endless conversation, and authentic human connections. It offers real-time access to evolving and dynamic topics, such as sports, movies, news, fashion, and the latest trends. It offers Memorable AI, that uses generative artificial intelligence to help marketers create better advertisements. Memorable AI technology help advertisers to find the effective text, images and videos to use in their sponsored messages.