On Tuesday, Reddit got an upgrade for its IBD SmartSelect Composite Rating from 94 to 97.
The new rating shows the stock is outpacing 97% of all stocks when it comes to the most important stock-picking criteria.
Reddit is currently extended beyond a proper buy zone after clearing the 78.08 buy point in a cup without handle.
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One weak spot is the company's 72 EPS Rating, which tracks quarterly and annual earnings-per-share growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
In Q3, the company posted 0% earnings growth. Revenue growth increased 68%, up from 54% in the prior quarter. That marks four quarters of rising growth.
Reddit earns the No. 5 rank among its peers in the Internet-Content industry group. Alphabet Cl A is the No. 1-ranked stock within the group.
