Cantor Fitzgerald Has Lowered Expectations for Firefly Aerospace (NASDAQ:FLY) Stock Price

Key Points

• Cantor Fitzgerald cut its price target on Firefly Aerospace to $35 from $65 while keeping an "overweight" rating, implying about a 25.9% upside from the current share price.
• The analyst consensus is a "Moderate Buy" with an average target of $35.13, based on a mix of ratings (1 Strong Buy, 5 Buy, 3 Hold, 1 Sell) from covering firms.
• Firefly shares trade around $27.81 with a $4.45B market cap; revenue surged ~541% year-over-year and EPS beat estimates (‑$0.38 vs. ‑$0.48), but the company remains unprofitable with a negative net margin (~186.6%) and negative ROE.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) had its price target dropped by research analysts at Cantor Fitzgerald from $65.00 to $35.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Cantor Fitzgerald's target price would indicate a potential upside of 25.88% from the company's current price.

Several other analysts have also recently issued reports on FLY. Morgan Stanley reaffirmed a "positive" rating on shares of Firefly Aerospace in a research report on Thursday, March 12th. Weiss Ratings restated a "sell (d-)" rating on shares of Firefly Aerospace in a research note on Monday, December 29th. KeyCorp began coverage on Firefly Aerospace in a research report on Thursday, December 18th. They set a "sector weight" rating on the stock. UBS Group set a $33.00 target price on shares of Firefly Aerospace in a report on Thursday, March 12th. Finally, The Goldman Sachs Group increased their price target on shares of Firefly Aerospace from $29.00 to $32.00 and gave the company a "neutral" rating in a research report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $35.13.

Firefly Aerospace Trading Up 1.0%

NASDAQ:FLY opened at $27.81 on Thursday. The firm has a 50-day simple moving average of $23.71 and a 200-day simple moving average of $25.83. Firefly Aerospace has a one year low of $16.00 and a one year high of $73.80. The firm has a market cap of $4.45 billion and a P/E ratio of -3.02. The company has a debt-to-equity ratio of 0.24, a quick ratio of 6.20 and a current ratio of 4.51.

Firefly Aerospace (NASDAQ:FLY - Get Free Report) last released its quarterly earnings data on Thursday, March 19th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.48) by $0.10. The firm had revenue of $57.67 million for the quarter. Firefly Aerospace had a negative net margin of 186.63% and a negative return on equity of 234.80%. The company's revenue was up 541.1% compared to the same quarter last year.

Institutional Trading of Firefly Aerospace

Institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. purchased a new position in Firefly Aerospace during the 4th quarter worth $136,000. Caitong International Asset Management Co. Ltd raised its stake in Firefly Aerospace by 140.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 28,689 shares of the company's stock valued at $642,000 after buying an additional 16,745 shares during the last quarter. Virtu Financial LLC boosted its holdings in Firefly Aerospace by 104.0% in the fourth quarter. Virtu Financial LLC now owns 14,824 shares of the company's stock worth $332,000 after acquiring an additional 7,556 shares in the last quarter. Invesco Ltd. purchased a new stake in shares of Firefly Aerospace during the fourth quarter worth about $11,607,000. Finally, VARCOV Co. purchased a new stake in shares of Firefly Aerospace during the fourth quarter worth about $262,000.

Firefly Aerospace Company Profile

Firefly Aerospace NASDAQ: FLY is a U.S.-based aerospace company that designs, manufactures and operates launch vehicles and in-space systems for commercial, civil and national security customers. The company focuses on providing end-to-end small- and medium-lift launch services, mission integration and spacecraft hardware to support satellite deployment and on-orbit operations.

Firefly's product portfolio includes the Alpha small launch vehicle, developed to carry small satellites to low Earth orbit, and plans for larger vehicles and in-space capabilities to address a range of payload sizes and mission profiles.

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