Canaccord lowered the firm’s price target on Spire Global to $24 from $25 and keeps a Buy rating on the shares. The firm noted Spire Global announced an equity offering of 2.14M shares that were sold to two large institutional investors for $30M in gross proceeds. Canaccord said they adjusted 2024 EPS estimates and reduced the price target to reflect the Class A share dilution impact.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SPIR: