New Street Research - Snap Inc. Class A (SNAP) Snap Inc. (SNAP, Buy, $16 target) Gen AI Text Generator Highlights Latest Ad Product Updates

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New Street Research

Dan Salmon

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Snap Inc. (SNAP, Buy, $16 target) Gen AI Text Generator Highlights Latest Ad Product Updates

Last week, SNAP announced a new GenAI Copy Generator for advertisers, and earlier this month, the company narrowed its set of advertising objectives to twelve, from five. In this brief note, we review these announcements and other ad product updates since SNAP’s earnings call (including U.S. state-level targeting for First Story, which should benefit political spending at SNAP) and share our views on how each should support SNAP’s Direct Response and Brand advertising businesses.

20/08/2024 1 EN

Underlying

Snap Inc. Class A

Snap is a camera company. The company's primary product, Snapchat, is a camera application that helps people to communicate visually through short videos and images called Snaps. The company's products are: Camera, which includes tools for people to personalize their Snaps; Chat, which includes interacting with friends on Snapchat; Discover, which includes providing Stories and Shows from publishers, creators, and the community; Snap Map, which shows a live map of the user's location; Memories, which enables users to save the Snaps they create in a personal collection called Memories; and Spectacles, which includes creating Memories by using Spectacles, which are the company's sunglasses that make Snaps.

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US83304A1060 New York Stock Exchange United States

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Dan Salmon

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Snap Inc. (SNAP, Buy, $16 target) Gen AI Text Generator Highlights Latest Ad Product Updates

Snap Inc: 3 directors

Snap Inc (SNAP, Buy, $17 target) 3Q24 Model Update (Buy, target remains $17)

Snap Inc. (SNAP, Buy, $17 target) First Take: Direct Response still humming, brand still lagging

Alphabet (GOOGL, Buy, $213 target) Forget Chrome, 3P payments are the heart of the issue

SATS: DBS merger breaks

3Q24 Broadband Trends: FWA capacity limits; FWA demand limits

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