Analysts Set BlackSky Technology Inc. (NYSE:BKSY) Price Target at $28.00

by · The Markets Daily

Shares of BlackSky Technology Inc. (NYSE:BKSY – Get Free Report) have been given a consensus rating of “Moderate Buy” by the seven research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $28.00.

BKSY has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a research report on Wednesday, January 21st. Jefferies Financial Group began coverage on shares of BlackSky Technology in a report on Monday, December 22nd. They set a “buy” rating and a $23.00 price target on the stock. Finally, HC Wainwright upped their price target on shares of BlackSky Technology from $28.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, October 10th.

Get Our Latest Report on BlackSky Technology

BlackSky Technology Stock Up 9.0%

NYSE:BKSY opened at $22.88 on Wednesday. The business’s fifty day moving average price is $22.02 and its 200 day moving average price is $20.48. The firm has a market capitalization of $823.45 million, a price-to-earnings ratio of -7.29 and a beta of 2.43. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 2.08. BlackSky Technology has a 1-year low of $6.15 and a 1-year high of $33.20.

BlackSky Technology (NYSE:BKSY – Get Free Report) last released its earnings results on Thursday, November 6th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.02. The company had revenue of $19.62 million for the quarter, compared to analysts’ expectations of $28.67 million. BlackSky Technology had a negative return on equity of 54.48% and a negative net margin of 87.11%. On average, sell-side analysts forecast that BlackSky Technology will post -2.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BlackSky Technology

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in BlackSky Technology by 7.8% in the third quarter. Vanguard Group Inc. now owns 1,697,683 shares of the company’s stock worth $34,208,000 after buying an additional 123,171 shares during the last quarter. Geode Capital Management LLC grew its position in BlackSky Technology by 7.3% in the second quarter. Geode Capital Management LLC now owns 612,919 shares of the company’s stock worth $12,616,000 after acquiring an additional 41,922 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of BlackSky Technology by 343.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock worth $4,311,000 after purchasing an additional 432,023 shares during the last quarter. LBP AM SA raised its holdings in shares of BlackSky Technology by 37.3% during the 4th quarter. LBP AM SA now owns 497,187 shares of the company’s stock valued at $9,322,000 after purchasing an additional 135,013 shares in the last quarter. Finally, Jump Financial LLC lifted its stake in shares of BlackSky Technology by 128.2% in the 2nd quarter. Jump Financial LLC now owns 480,048 shares of the company’s stock valued at $9,879,000 after purchasing an additional 269,700 shares during the last quarter. 27.15% of the stock is currently owned by institutional investors and hedge funds.

BlackSky Technology Company Profile

(Get Free Report)

BlackSky Technology, Inc operates Earth observation and geospatial intelligence services through a constellation of small satellites and an analytics platform. The company collects and processes high-revisit satellite imagery, enabling near-real-time monitoring of global events and locations. Clients across government, defense and commercial sectors leverage BlackSky’s imagery and data to support decision-making in areas such as supply chain monitoring, humanitarian aid, infrastructure management and security operations.

Founded in 2014 as part of Spaceflight Industries, BlackSky has grown its satellite constellation and analytics capabilities to deliver satellite imagery with high revisit rates and rapid tasking.

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