AST SpaceMobile Shares Reverse Higher After Q2 Miss, Analyst Lifts Target to $90
ASTS sits 94% above its 52-week low of $36.08.
Summary
AST SpaceMobile shares reversed an initial post-earnings decline, trading up 3% to $70.88 on Tuesday despite missing Q2 estimates. The company reported an adjusted loss of $0.35 per share on revenue of $31.5 million, both below consensus, but reaffirmed full-year revenue guidance of $150–$200 million. Cantor Fitzgerald raised its price target to $90 from $80, maintaining an Overweight rating, which likely fueled the intraday reversal. The move follows Monday's after-hours selloff and comes amid a $1.3 billion revenue backlog and over $3.7 billion in pro forma cash, underscoring the market's focus on the long-term satellite broadband opportunity over near-term misses.
At the time of this announcement, ASTS was trading at $69.93 on NASDAQ in the Technology sector, with a market capitalization of approximately $26.7B. The 52-week trading range was $36.08 to $133.86. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Benzinga.