Needham reiterates buy on Reddit, sets $300 target implying 50% upside
2026-07-10 14:53:16
According to CNBC, Needham said Reddit’s human-written posts could become more valuable as generative AI use grows, and reiterated a buy rating with a $300 price target that implies about 50% upside from Thursday’s close. Analyst Laura Martin said the platform’s large-scale human dialogue is a competitive advantage as algorithms proliferate and that users may increasingly seek human authentication and advice alongside large language models. A Pew Research Center report cited in the note said roughly half of U.S. adults report using AI chatbots, up from 2024, and about one-in-four say they use generative-AI tools daily. Reddit shares are up 43% over the past three months, and LSEG data shows 19 of 29 analysts rate the stock buy or strong buy.
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