Spire Global Analysts Cut Their Forecasts Following Q1 Results
Portfolio Pulse from Avi Kapoor
Spire Global, Inc. (NYSE:SPIR) reported mixed Q1 results, with an adjusted loss per share better than expected but revenue missing estimates. The company lowered its FY24 revenue and EPS outlook, leading to a 6.8% drop in share price. Analysts from Baird and Stifel cut their price targets but maintained positive ratings.
May 16, 2024 | 12:34 pm
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Spire Global reported mixed Q1 results, with an adjusted loss per share better than expected but revenue missing estimates. The company lowered its FY24 revenue and EPS outlook, leading to a 6.8% drop in share price. Analysts from Baird and Stifel cut their price targets but maintained positive ratings.
The mixed Q1 results, coupled with the lowered FY24 revenue and EPS outlook, have negatively impacted investor sentiment, leading to a 6.8% drop in share price. Despite the price target cuts, the maintained positive ratings from analysts suggest some long-term confidence, but the short-term impact is likely negative.
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