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Investing.com - Northland has raised its price target on Ondas Holdings Inc. (NASDAQ:ONDS) to $5.00 from $4.25 while maintaining an Outperform rating on the stock. The company, currently valued at $1.07 billion, has seen its shares surge over 130% in the past six months.
The research firm cited Ondas’ impressive 555% revenue growth in the second quarter, which exceeded Northland’s estimates. This strong performance prompted the upward revision in the price target. InvestingPro data shows the company maintaining robust growth with a 75% year-over-year revenue increase in the last twelve months.
Ondas management has increased their backlog forecast compared to projections from just a month ago and guided to strong second-half bookings exceeding $23 million, according to Northland.
The research firm has increased its revenue estimates for Ondas, noting that demand appears to be broad-based and accelerating across the company’s markets.
Northland also highlighted that potential acquisitions could further enhance Ondas’ value, while the company’s recent financing provides more operational flexibility.
In other recent news, Ondas Holdings Inc. announced the closing of its underwritten public offering, raising approximately $163 million in net proceeds. The offering included an over-allotment option, which was fully exercised, adding 6,924,000 shares to the total. The company plans to utilize these funds for working capital, general corporate purposes, and potential strategic transactions. Additionally, Ondas Holdings has reached a definitive agreement to acquire Israeli robotics firm Apeiro Motion for $12 million. This acquisition, expected to close in the third quarter of 2025, aims to enhance Ondas’ capabilities in ground robotics and fiber optic communications. In other developments, Ondas appointed Dr. Irit Idan to its Ondas Autonomous Systems Advisory Board. Dr. Idan brings a wealth of experience from her previous roles in defense and technology sectors. These moves reflect Ondas’ ongoing efforts to expand its technological and strategic capabilities.
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