The IBD SmartSelect Composite Rating for Reddit increased from 93 to 96 Wednesday.
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The upgrade means the stock is now outperforming 96% of all other stocks in terms of key performance metrics and technical strength.
Reddit is now out of buy range after clearing the 78.08 entry in a cup without handle.
The stock has an 80 EPS Rating, meaning its recent quarterly and annual earnings growth tops 80% of all stocks.
Its Accumulation/Distribution Rating of A shows heavy buying by institutional investors over the last 13 weeks.
The company reported a 0% rise in earnings for Q2. Revenue growth rose 78%, up from 61% in the prior report. That marks one quarter of increasing revenue gains.
Reddit earns the No. 10 rank among its peers in the Internet-Content industry group. Tencent Music Ent ADR, Kanzhun ADR and Alphabet Cl C are among the top 5 highly-rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
