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Investing.com - Needham initiated coverage on Ondas Holdings Inc. (NASDAQ:ONDS) with a Buy rating and a price target of $5.00 on Tuesday. The stock, which has surged over 180% in the past six months according to InvestingPro data, maintains a strong liquidity position with a current ratio of 2.9x.
The research firm added Ondas to the Needham Conviction List, signaling strong confidence in the unmanned aerial systems (UAS) company’s growth potential.
Needham believes the UAS industry is entering a multi-year supercycle, positioning Ondas as one of the best-situated U.S.-based pure-play drone companies to capture increasing demand for autonomous offensive and defensive platforms.
The firm highlighted Ondas’s end-to-end portfolio targeting high-growth sectors including defense, homeland security, DFR, and critical infrastructure markets, which are being unlocked by favorable U.S. legislation and global investment in UAS and counter-UAS technologies.
Needham identified a near-term $5 billion-plus market opportunity for Ondas, along with a $1 billion-plus U.S. rail networking opportunity, projecting the company will deliver industry-leading growth through its scalable operating platform and strategic M&A potential.
In other recent news, Ondas Holdings Inc. reported a significant 555% revenue growth in the second quarter, surpassing Northland’s estimates and prompting the research firm to raise its stock price target to $5. Additionally, Ondas announced a definitive agreement to acquire Israeli robotics firm Apeiro Motion for $12 million, a move expected to enhance its capabilities in ground robotics and fiber optic communications. The acquisition is anticipated to close in the third quarter of 2025. Furthermore, Ondas completed a public offering, raising approximately $163 million in net proceeds, which will be used for working capital and potential strategic transactions. The offering included an over-allotment option that was fully exercised. In leadership developments, Ondas appointed Dr. Irit Idan, a defense technology expert, to its advisory board, bringing experience from RAFAEL Advanced Defense Systems and the SoftBank (TYO:9984) Vision Fund. These developments reflect Ondas’ ongoing strategic growth initiatives.
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