Rubrik's Successful IPO Puts These ETFs in Focus [Yahoo! Finance]
Reddit, Inc. Class A (RDDT)
Company Research
Source: Yahoo! Finance
The stock added 2.41% after hours. The firm has a valuation of about $6.49 billion. Rubrik's IPO topped expectations, pricing shares at $32, above the high end of the expected range, and opening for trading at $38.60. The upsized IPO raised $752 million for Rubrik's expansion plans, valuing the company at $5.6 billion. Notably, Rubrik's valuation has steadily increased, with a Series E round in January valuing the company at $3.3 billion, up from $1.8 billion in 2017. Microsoft made an equity investment in Rubrik in 2021 in a financing round. Venture capital firms Greylock Partners and Lightspeed have also backed the company. ETFs in Focus The market debut of Rubrik could pave its entry into a number of ETFs in the coming days. Investing in IPO ETFs could be a compelling way to enter the IPO business without directly investing in individual companies. Plus, the stock may be included in several cybersecurity and cloud-computing ETFs that align with the space Rubrik operates in.
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News
- 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
- Reddit (RDDT) Q1 Earnings Beat Estimates, Revenues Up Y/Y [Yahoo! Finance]Yahoo! Finance
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