Spire Global (NYSE:SPIR) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Spire Global (NYSE:SPIR) had its price objective boosted by analysts at Canaccord Genuity Group from $11.50 to $15.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 35.70% from the company’s previous close.

Several other analysts have also recently weighed in on SPIR. Craig Hallum raised shares of Spire Global from a “hold” rating to a “buy” rating and upped their price objective for the stock from $8.00 to $20.00 in a research note on Thursday, November 14th. Alliance Global Partners boosted their target price on Spire Global from $17.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Robert W. Baird raised their price target on Spire Global from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Spire Global currently has an average rating of “Moderate Buy” and a consensus price target of $18.40.

Spire Global Price Performance

Shares of SPIR traded up $0.43 during mid-day trading on Wednesday, reaching $11.05. The company had a trading volume of 729,886 shares, compared to its average volume of 711,846. The company has a market capitalization of $268.81 million, a P/E ratio of -3.18 and a beta of 2.27. Spire Global has a twelve month low of $6.26 and a twelve month high of $21.43. The company’s 50-day moving average is $14.98 and its 200-day moving average is $12.42.

Spire Global (NYSE:SPIR) last released its quarterly earnings data on Monday, March 3rd. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.54). The business had revenue of $28.57 million during the quarter, compared to analysts’ expectations of $30.17 million. As a group, equities analysts expect that Spire Global will post -1.69 EPS for the current fiscal year.

Insider Activity at Spire Global

In other Spire Global news, CAO Boyd C. Johnson sold 11,304 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $11.27, for a total value of $127,396.08. Following the transaction, the chief accounting officer now directly owns 300,304 shares in the company, valued at approximately $3,384,426.08. This trade represents a 3.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Peter Platzer sold 51,346 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $11.27, for a total value of $578,669.42. Following the completion of the transaction, the chairman now owns 1,840,357 shares in the company, valued at approximately $20,740,823.39. This represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 94,857 shares of company stock valued at $1,069,038 over the last quarter. Corporate insiders own 17.11% of the company’s stock.

Institutional Investors Weigh In On Spire Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of Spire Global by 53.1% during the 3rd quarter. State Street Corp now owns 428,854 shares of the company’s stock worth $4,284,000 after buying an additional 148,803 shares during the period. Raymond James Financial Inc. bought a new position in Spire Global during the 4th quarter worth approximately $1,902,000. Granahan Investment Management LLC acquired a new position in Spire Global during the fourth quarter valued at approximately $1,774,000. Stifel Financial Corp raised its holdings in Spire Global by 45.7% in the third quarter. Stifel Financial Corp now owns 242,660 shares of the company’s stock worth $2,424,000 after purchasing an additional 76,119 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Spire Global by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 1,104,482 shares of the company’s stock worth $15,540,000 after purchasing an additional 64,632 shares during the period. Institutional investors own 19.97% of the company’s stock.

About Spire Global

Spire Global, Inc provides subscription-based data, insights, predictive analytics, and related project-based services worldwide. The company offers satellite-based aircraft tracking data to power applications, drive decision making, and improve cost efficiencies; data, insights, and predictive analytics for highly accurate ship monitoring, real-time and near real-time vessel updates, port operations, ship safety and route optimization; and space-based data, AI-powered insights, and predictive weather analytics for accurate weather forecasting.