Spire Global price target lowered to $17 from $21 at Alliance Global Partners

Alliance Global Partners lowered the firm’s price target on Spire Global to $17 from $21 and keeps a Buy rating on the shares. The company posted lower than expected Q1 results but order flow will pick up in the second half of 2024, the analyst tells investors in a research note. The firm believes Spire transitioned to a larger jet propulsion manufacturer and therefore does not expect this problem to repeat. Demand for the company’s radio frequency geo-location data to address global security threats is increasing, adds Alliance Global.