Goldman Sachs raises Snap's price target to $6.50 after strong Q2 results and AI-driven ad growth.

Goldman Sachs increased its price target for Snap Inc. to $6.50, reflecting a potential 28.7% upside from its current price of $5.05. This follows Snap's strong Q2 performance, with revenue of $1.60 billion beating expectations and a smaller loss per share. The company also saw a 5% rise in daily active users and expects Q3 revenue between $1.70 billion and $1.74 billion. Snap's focus on AI tools to enhance advertising effectiveness and increased ad spending during the FIFA World Cup contributed to this positive outlook.