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Investing.com - Stifel has reiterated its Buy rating and $17.00 price target on Spire Global (NYSE:SPIR) following the company’s business update call for the second quarter. According to InvestingPro data, the stock has shown significant momentum with a 15.34% return over the past week, though analysis suggests the stock is currently overvalued at its price of $11.05.
The space-based data provider expects second-quarter revenues to range between $18 million and $19 million, slightly narrower than its previous guidance of $18 million to $20 million, and in line with the consensus estimate of $18.8 million. Spire ended the quarter with a cash balance of $117.6 million. InvestingPro analysis reveals the company’s financial health score is currently weak at 1.44, with short-term obligations exceeding liquid assets as indicated by a current ratio of 0.67.
Spire Global remains on track to achieve its calendar year 2025 revenue target of $85 million to $95 million, which will require significant revenue acceleration in the second half of the year. The company projects it will finish 2025 with approximately $100 million in cash. Get access to 10+ additional key insights about Spire Global’s financial health and market position with InvestingPro’s comprehensive research report.
The business update follows Spire’s previously announced delay in filing its 10-Q, which the company attributed to closing complexities related to the sale of its Maritime business and updated revenue recognition policies for its space services business.
Stifel noted that Spire has made substantial progress in selecting a new auditor, which should be in place for third-quarter earnings, and highlighted the company’s advancement with new products and contract awards that support its projection of over 20% revenue growth in 2026.
In other recent news, Spire Global has secured a $1.2 million task order extension from NASA, allowing the company to continue providing Earth observation data under the Commercial Satellite Data Acquisition Program. This extension builds on a previous $6.7 million contract awarded in August 2024. Additionally, Spire Global has been awarded a contract by the European Space Agency to supply historical weather data collected by its satellites, enhancing research capabilities for European scientists. In another development, Spire Global announced the launch of its Aircraft Exposure Analytics platform, which offers aviation solutions by measuring aircraft exposure to hazardous weather conditions using flight trajectories and global weather alerts.
The company has also expanded its Space Reconnaissance portfolio with new radio frequency geospatial intelligence tools aimed at supporting government and defense sectors. Furthermore, Spire Global’s auditor, PricewaterhouseCoopers, has announced its resignation after filing the company’s 10-Q for the period ending June 30, 2025, with no adverse opinions affecting prior financial statements. The company is actively seeking new auditors. Analyst firm Stifel has maintained its "Buy" rating on Spire Global, indicating continued confidence in the company’s prospects. These developments reflect Spire Global’s ongoing efforts to enhance its capabilities and service offerings in the space and data intelligence sectors.
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