H.C. Wainwright analyst Scott Buck reiterated a Buy rating on BlackSky Technology (BKSY – Research Report) today and set a price target of $20.00.
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Scott Buck’s rating is based on several positive developments at BlackSky Technology. The company has shown impressive growth with its recent revenue figures surpassing expectations, which has been a significant factor in the Buy rating. Additionally, the deployment schedule of their Gen-3 satellites is promising, with plans to have a full constellation by the end of 2026. This advancement is expected to drive new customer demand due to the improved imaging capabilities, acting as a catalyst for revenue growth starting in the second half of 2025.
Furthermore, the company’s current backlog is significantly tied to these new capabilities, which is anticipated to unlock additional revenue streams. The geopolitical climate, including increased defense spending and regional conflicts, is also expected to boost business opportunities for BlackSky. Despite some fluctuations in gross margin, the overall positive operating environment and reaffirmed revenue guidance for 2025 have strengthened confidence in the company’s future performance, supporting the Buy rating and the $20 price target.
In another report released yesterday, Lake Street also maintained a Buy rating on the stock with a $18.00 price target.