Udemy, Reddit, RxSight Receive Mixed Analyst Ratings and Price Targets

Reddit (NYSE:RDDT) has seen its target price adjusted by various analysts, with Wells Fargo reducing it from $215.00 to $158.00, while Bank of America raised it from $180.00 to $190.00. Despite being added to the NASDAQ Internet Index, Reddit's share price recently declined by 14%, reflecting broader market pressures. Over the past year, however, Reddit's total shareholder return was impressive at 134.30%, outperforming both the US Interactive Media and Services industry and the broader market. The company reported positive net income for Q3 2024, contributing to a revenue growth forecast of $1.30 billion for 2024, up from $804 million the previous year. Additionally, Reddit's stock entered oversold territory with an RSI reading of 28.2, indicating potential buying opportunities as heavy selling may be exhausting. Analysts continue to maintain a consensus rating of 'Moderate Buy' for the stock, signaling overall confidence despite short-term volatility.