Report published August 4, 2026
Snap Inc. (SNAP) Q2 2026 Review: Goldman Sachs Equity Research Report
Goldman Sachs · August 4, 2026
Goldman Sachs maintains a Neutral rating on Snap Inc. while raising its 12-month price target to $6.50 following solid Q2 2026 earnings driven by advertising performance and operational efficiencies.
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Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Key Takeaways
- 1.Operating momentum in the advertising business drove Q2 results, with a ~56% YoY improvement in conversions.
- 2.Management continues to see upside in EBITDA and cash flow from opex discipline, restructuring savings, and stock buybacks.
- 3.Analysts raised the 12-month price target from $6.00 to $6.50 following the Q2 results.
Table of Contents
- Q2'26 Review: Improved Advertising Performance & Operating Margin Leverage Drove Solid Results
- Ratios & Valuation
- Growth & Margins (%)
- Price Performance
- Income Statement ($ mn)
- Balance Sheet ($ mn)
- Cash Flow ($ mn)
- Q2'26 Positives & Negatives
- Q3'26 & FY2026 Estimate Changes
- Valuation: Maintain Neutral Rating; Raise PT to $6.50 (from $6.00)
- Key Risks
Report data
Q2'26 Actuals vs. Estimates
| Metric | Estimate | Context |
|---|---|---|
| 12m Price Target | 6.50 USD | Raised from $6.00 |
| Q2 2026 Total Revenue Growth | 19% | Year-over-year revenue growth |
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