Bank of America Cuts Voyager Technologies (NYSE:VOYG) Price Target to $41.00

Key Points

• Bank of America has reduced the price target for Voyager Technologies from $50.00 to $41.00, while maintaining a "buy" rating, indicating a potential upside of nearly 35% from the previous stock close.
• Voyager Technologies recently reported a quarterly revenue of $45.67 million, significantly exceeding analyst estimates of $35.44 million, despite posting a loss per share of $(0.60).
• Several analysts have mixed ratings on Voyager Technologies, with some downgrading their estimates, reflecting a range of target prices from $41.00 to $52.00 across different firms.

Voyager Technologies (NYSE:VOYG - Get Free Report) had its price target reduced by equities researchers at Bank of America from $50.00 to $41.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Bank of America's price objective suggests a potential upside of 34.96% from the stock's previous close.

Several other equities research analysts have also commented on VOYG. Wall Street Zen lowered Voyager Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Morgan Stanley started coverage on Voyager Technologies in a research report on Monday, July 7th. They set an "equal weight" rating and a $46.00 target price on the stock. JPMorgan Chase & Co. started coverage on Voyager Technologies in a research report on Monday, July 7th. They set an "overweight" rating and a $52.00 target price on the stock. Wolfe Research started coverage on Voyager Technologies in a research report on Monday, July 7th. They set an "outperform" rating and a $50.00 target price on the stock. Finally, Jefferies Financial Group started coverage on Voyager Technologies in a research report on Monday, July 7th. They set a "buy" rating and a $50.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $47.71.

Voyager Technologies Trading Down 1.3%

Voyager Technologies stock traded down $0.39 during mid-day trading on Monday, hitting $30.38. The company had a trading volume of 332,115 shares, compared to its average volume of 1,437,640. Voyager Technologies has a 12-month low of $28.39 and a 12-month high of $73.95. The firm's fifty day moving average is $38.56.

Voyager Technologies (NYSE:VOYG - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.33). The business had revenue of $45.67 million during the quarter, compared to analyst estimates of $35.44 million. During the same quarter in the previous year, the company posted ($1.29) EPS. The company's quarterly revenue was up 24.5% on a year-over-year basis. Voyager Technologies has set its FY 2025 guidance at EPS.

Institutional Trading of Voyager Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Senvest Management LLC acquired a new stake in shares of Voyager Technologies in the 2nd quarter worth $110,514,000. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Voyager Technologies in the 2nd quarter worth $41,607,000. Balyasny Asset Management L.P. acquired a new stake in shares of Voyager Technologies in the 2nd quarter worth $38,997,000. Alliancebernstein L.P. acquired a new stake in shares of Voyager Technologies in the 2nd quarter worth $24,720,000. Finally, Liberty Street Advisors Inc. acquired a new stake in shares of Voyager Technologies in the 2nd quarter worth $21,384,000.

Voyager Technologies Company Profile

We are an innovation-driven defense technology and space solutions company. Our company was purpose-built to address issues at the forefront of defense, national security and space industries and we have organized our business to reflect this goal. We strive to solve complex challenges to fortify national security, protect critical assets and unlock new frontiers for human progress and economic development.

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