Gold rally may be losing steam but no major correction seen: DB
Investing.com - H.C. Wainwright raised its price target on BlackSky Technology Inc. (NYSE:BKSY) to $42.00 from $28.00 on Friday, while maintaining a Buy rating on the satellite imagery company’s stock. According to InvestingPro data, BlackSky, currently valued at $1.05 billion, appears overvalued based on its Fair Value analysis.
The research firm cited BlackSky’s 31.7% share price increase since its inclusion in H.C. Wainwright’s top picks report for the second half of 2025 on July 11, outperforming the Russell 2000’s 9.1% gain during the same period. InvestingPro data reveals even more impressive returns, with the stock up 177.57% year-to-date and 380.74% over the past year.
H.C. Wainwright attributed the outperformance to strong secular trends in defense and space technology sectors, along with expectations for accelerating revenue growth and significant adjusted EBITDA expansion in 2026.
The firm expects the deployment of Gen-3 satellites through the remainder of 2025 and first half of 2026 to unlock meaningful revenue opportunities with new and existing customers, despite near-term U.S. government budget uncertainties that should resolve by early 2026.
H.C. Wainwright increased its forward revenue multiple for BlackSky from 6.0x to 9.0x, based on revenue growth opportunities over the next several years and operating leverage in the business model.
In other recent news, BlackSky Technology Inc. reported a 5.2% increase in revenue for the second quarter of 2025, totaling $51.7 million. However, the company faced an adjusted EBITDA loss of $3.4 million, contrasting with a $3.5 million profit in the same period last year. Additionally, BlackSky has signed a seven-figure contract with HEO for automated non-Earth imaging services, marking the fourth phase of their collaboration. This contract involves BlackSky’s Gen-2 satellite constellation capturing images of orbiting spacecraft and other space objects. Furthermore, BlackSky secured a two-year Gen-3 early access agreement with a new international customer, expanding on a previous Gen-2 contract initiated in January. This agreement highlights the growing demand for BlackSky’s high-resolution imagery and dynamic monitoring services. These recent developments reflect BlackSky’s ongoing efforts to expand its market presence and service offerings.
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