Reddit Inc (NYSE:RDDT) participated at Cannes Lions, the world’s largest festival for marketing industries in France from June 22 to June 26, where meetings with its CEO and COO focused on AI and agentic AI, according to Needham. Analyst Laura Martin maintained a Buy rating and price target of $300, noting that new GenAI deals with Alphabet Inc (NASDAQ:GOOGL) and OpenAI should come at higher fees upon renewal, as "human authentication is a mission-critical layer for LLMs." Martin also highlighted that a new Search product creates value by signaling higher intent, faster onboarding, and higher additional revenues. Reddit shares were down 1.41% at $163.29 at the time of publication on Wednesday.