Equities Analysts Offer Predictions for SRFM FY2030 Earnings

Key Points

• HC Wainwright trimmed its FY2030 EPS forecast for Surf Air Mobility to $0.65 from $0.66, while maintaining a Buy rating.
• Analyst sentiment is mixed: MarketBeat’s consensus rating is Hold, with a $2.92 average price target; Canaccord cut its target to $1.00 and rated the stock Hold.
• Surf Air Mobility reported a quarterly loss of $0.16 per share, missing the $0.13 loss consensus, on revenue of $36.46 million.

Surf Air Mobility Inc. (NYSE:SRFM - Free Report) - Equities research analysts at HC Wainwright reduced their FY2030 earnings per share estimates for Surf Air Mobility in a report issued on Monday, November 9th. HC Wainwright analyst A. Dayal now expects that the company will post earnings per share of $0.65 for the year, down from their previous estimate of $0.66. HC Wainwright currently has a "Buy" rating on the stock. The consensus estimate for Surf Air Mobility's current full-year earnings is ($0.68) per share.

Several other research firms also recently commented on SRFM. Canaccord Genuity Group reduced their price objective on Surf Air Mobility from $1.50 to $1.00 and set a "hold" rating on the stock in a report on Monday, August 17th. Weiss Ratings restated a "sell (e+)" rating on shares of Surf Air Mobility in a research note on Thursday, October 22nd. Finally, Wall Street Zen upgraded shares of Surf Air Mobility from a "sell" rating to a "hold" rating in a research note on Saturday. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $2.92.

Surf Air Mobility Trading Up 0.6%

Shares of SRFM opened at $0.70 on Tuesday. The company has a 50-day moving average of $0.80 and a 200 day moving average of $1.16. Surf Air Mobility has a 1-year low of $0.46 and a 1-year high of $3.73.

Surf Air Mobility (NYSE:SRFM - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.03). The firm had revenue of $36.46 million for the quarter.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Balefire LLC acquired a new stake in shares of Surf Air Mobility during the first quarter worth $376,000. J. Derek Lewis & Associates Inc. grew its holdings in shares of Surf Air Mobility by 84.3% during the first quarter. J. Derek Lewis & Associates Inc. now owns 293,000 shares of the company's stock valued at $337,000 after buying an additional 134,000 shares during the last quarter. Engineers Gate Manager LP increased its position in shares of Surf Air Mobility by 147.4% in the 2nd quarter. Engineers Gate Manager LP now owns 96,389 shares of the company's stock valued at $112,000 after acquiring an additional 57,423 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Surf Air Mobility in the 2nd quarter valued at $53,000. Finally, Ritholtz Wealth Management acquired a new position in shares of Surf Air Mobility in the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 17.68% of the company's stock.

Surf Air Mobility Company Profile

Surf Air Mobility Inc operates as an electric aviation and air travel company in the United States. The company offers an air mobility platform with scheduled routes and on demand charter flights operated by third parties. Surf Air Mobility Inc is headquartered in Hawthorne, California.

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