IPO Rebound Creates $5.8 Billion in Wealth From Nursing to Tech [BNN Bloomberg (Canada)]
Reddit, Inc. Class A (RDDT)
Company Research
Source: BNN Bloomberg
Founders are taking advantage of strong equity markets to raise cash, accruing at least $5.8 billion in wealth so far this year, according to the Bloomberg Billionaires Index. It's a marked change in tone after high interest rates and recession fears derailed many planned IPOs in 2023. Two blockbuster deals, Reddit Inc. and Galderma Group AG, raised roughly $3 billion between them last month, giving the green light to other companies offering everything from assisted living to semiconductor connectors to airplane components. More than $13.7 billion has now been raised in US debuts so far in 2024, over three times the amount achieved in the same period last year. “Whenever we see broad sectors access the capital markets it's a positive sign for everyone that's looking to go,” said Mike Bellin, IPO services leader at PwC. AI Hype Rubrik Inc. is set to list Thursday after raising $752 million at a fully diluted valuation of more than $6.6 billion. The cybersecurity firm embrac
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RDDT
News
- Reddit, Inc. (NYSE: RDDT) had its price target raised by analysts at The Goldman Sachs Group, Inc. from $40.00 to $55.00. They now have a "neutral" rating on the stock.MarketBeat
- Reddit, Inc. (NYSE: RDDT) had its price target raised by analysts at Citigroup Inc. from $53.00 to $65.00. They now have a "buy" rating on the stock.MarketBeat
- Reddit, Inc. (NYSE: RDDT) had its price target raised by analysts at JMP Securities from $53.00 to $63.00. They now have a "market outperform" rating on the stock.MarketBeat
- Reddit, Inc. (NYSE: RDDT) had its price target raised by analysts at Sanford C. Bernstein from $40.00 to $45.00. They now have an "underperform" rating on the stock.MarketBeat
- Reddit, Inc. (NYSE: RDDT) had its price target raised by analysts at Roth Mkm from $50.00 to $61.00. They now have a "buy" rating on the stock.MarketBeat
RDDT
Earnings
- 5/7/24 - Beat
RDDT
Sec Filings
- 5/8/24 - Form 10-Q
- 5/7/24 - Form 8-K
- 5/3/24 - Form SC
- RDDT's page on the SEC website