Snap Inc (SNAP) PT Raised to $6.50 at Goldman Sachs

Goldman Sachs analyst Eric Sheridan raised the price target on Snap Inc (NYSE: SNAP) to $6.50 (from $6.00) while maintaining a Neutral rating.

The analyst comments: “We recap SNAP’s Q2’26 earnings report which reflected a few key themes: 1) solid operating momentum in the advertising business with platform and product iterations beginning to take hold; 2) significant upside in terms of Adj EBITDA & free cash flow as a result of expense discipline; 3) the company remains focused on the platform computing shift toward AR/Spatial computing in terms of their SPECS which is on track for a Fall 2026 launch; & 4) the scope for revenue diversification on display through Snap+, Lens+ and medium/long-term by SPECS platform. In total, Snap management expressed optimism about AI driven ad platform improvements and how it might sustain durable levels of growth in forward periods.

Over the short term, we expect investor focus will remain on the ability to continue building momentum in ad, further proof around consumer demand & go-to-market strategy with respect to SPECS in 2H 2026 & how much balance can be maintained in terms of operating margins. Beyond the next 6-12 months, we see SNAP as building toward its multi-year strategic vision for where consumer engagement is shifting (AR/spatial computing) and shifting its platform/product evolution (including SPECS hardware) to meet this vision.”

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