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BlackSky Technology Inc. (BKSY) has reached a new 52-week high, with its stock price soaring to $18.39. According to InvestingPro data, the company’s stock is currently trading above its Fair Value, with impressive momentum showing a 93% return over the past six months. This milestone reflects a significant period of growth for the geospatial intelligence company, which has seen its value increase by an impressive 32.31% over the past year. With a robust gross profit margin of nearly 70% and revenue growth of 37% in the last twelve months, investors have shown increased confidence in BlackSky’s innovative satellite imaging and data analytics solutions. These solutions are becoming increasingly vital in a world where timely, accurate earth observation data can offer a competitive edge across various industries. Investors should note that the company is scheduled to report earnings on February 28, which could provide further insights into its growth trajectory. The company’s robust performance and its stock’s upward trajectory underscore the market’s optimistic outlook on BlackSky’s future prospects. For deeper insights into BKSY’s valuation metrics and 13 additional ProTips, consider accessing the comprehensive Pro Research Report available exclusively on InvestingPro.
In other recent news, BlackSky Technology Inc. has been making significant strides with a series of multi-year contracts in India and a contract win with EMDYN. The company has secured several contracts aimed at advancing India’s commercial Earth observation capabilities, including the delivery of a high-resolution Earth observation satellite and access to BlackSky’s imagery and AI-enabled analytics services. In addition, BlackSky has won a significant subscription contract with EMDYN, a geospatial intelligence fusion company, to deliver Gen-2 space-based imagery services to international government customers.
BlackSky is also set to launch its first Gen-3 satellite, which is expected to enhance its satellite imaging capabilities. The launch, named "Fasten Your Space Belts," will introduce 35-centimeter imaging resolution to BlackSky’s suite of services. H.C. Wainwright has raised their price target for BlackSky to $20, maintaining a Buy rating on the company’s shares. This revision follows a series of sizeable contract announcements made by the company, including a new seven-year contract valued at $100 million with an existing defense sector customer. These are recent developments that highlight the company’s growth and potential in the international market.
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