- Baird analyst Colin Sebastian reiterated a Neutral rating and $185 price target for Reddit on Sept. 2.
- Reddit’s 2024 Google agreement is valued at about $60 million annually, while its OpenAI agreement is estimated at about $70 million; both expire next year.
- The bull case centers on higher usage-based fees as Reddit adds fresh conversations and remains a cited source for AI answers; the bear case centers on lower fees, reduced services, or non-renewal.