Spire Global price target lowered to $20 from $24 at Stifel

Stifel analyst Erik Rasmussen lowered the firm’s price target on Spire Global to $20 from $24 and keeps a Buy rating on the shares. Q1 revenues were weaker than expected and Spire lowered its 2024 outlook, though the company is still able to deliver 20% year-over-year revenue growth, while remaining on track for positive free cash flow by the summertime, the analyst tells investors in a post-earnings note.