Northland Securities Brokers Cut Earnings Estimates for SRFM

Key Points

• Northland Securities cut its earnings estimates for Surf Air Mobility, lowering Q2 2026 EPS to -$0.23 from -$0.20 and trimming several later-period forecasts as well. The firm still kept an Outperform rating and a $5.00 price target.
• Despite the estimate cuts, broader analyst sentiment remains mixed but constructive, with three Buy ratings versus one Hold and one Sell. The consensus analyst price target is $3.31.
• Surf Air Mobility also saw notable insider selling, as CEO Deanna Leigh White and CFO Oliver Reeves sold shares in transactions tied to tax withholding on equity awards. The sales came as the stock traded around $1.26 to $1.31, far below the analyst targets.

Surf Air Mobility Inc. (NYSE:SRFM - Free Report) - Equities researchers at Northland Securities lowered their Q2 2026 earnings per share estimates for shares of Surf Air Mobility in a research report issued on Tuesday, May 12th. Northland Securities analyst M. Latimore now forecasts that the company will earn ($0.23) per share for the quarter, down from their prior estimate of ($0.20). Northland Securities currently has a "Outperform" rating and a $5.00 target price on the stock. The consensus estimate for Surf Air Mobility's current full-year earnings is ($1.15) per share. Northland Securities also issued estimates for Surf Air Mobility's Q3 2026 earnings at ($0.17) EPS, Q4 2026 earnings at ($0.15) EPS, FY2026 earnings at ($0.80) EPS, Q1 2027 earnings at ($0.15) EPS, Q2 2027 earnings at ($0.15) EPS, Q3 2027 earnings at ($0.17) EPS, Q4 2027 earnings at ($0.18) EPS and FY2027 earnings at ($0.65) EPS.

Several other research firms also recently issued reports on SRFM. Weiss Ratings downgraded Surf Air Mobility from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, May 6th. Canaccord Genuity Group set a $1.50 price objective on Surf Air Mobility in a report on Wednesday. Finally, Alliance Global Partners started coverage on Surf Air Mobility in a report on Friday, May 1st. They issued a "buy" rating and a $2.75 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $3.31.

Surf Air Mobility Trading Up 0.4%

SRFM stock opened at $1.26 on Thursday. The company has a market capitalization of $124.87 million, a PE ratio of -0.47 and a beta of 2.72. Surf Air Mobility has a 12-month low of $1.01 and a 12-month high of $9.91. The business's fifty day moving average price is $1.34 and its 200 day moving average price is $2.06.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SRFM. Bank of New York Mellon Corp acquired a new position in Surf Air Mobility during the first quarter worth approximately $26,000. JPMorgan Chase & Co. increased its position in Surf Air Mobility by 18,757.1% during the third quarter. JPMorgan Chase & Co. now owns 6,600 shares of the company's stock worth $28,000 after buying an additional 6,565 shares during the period. Bank of America Corp DE increased its position in Surf Air Mobility by 7,157.9% during the third quarter. Bank of America Corp DE now owns 10,161 shares of the company's stock worth $44,000 after buying an additional 10,021 shares during the period. Price T Rowe Associates Inc. MD acquired a new position in Surf Air Mobility during the fourth quarter worth approximately $45,000. Finally, J.W. Cole Advisors Inc. acquired a new stake in Surf Air Mobility during the 3rd quarter worth approximately $47,000. 17.68% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Surf Air Mobility

In other news, CEO Deanna Leigh White sold 56,884 shares of the company's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $1.31, for a total transaction of $74,518.04. Following the completion of the transaction, the chief executive officer directly owned 899,130 shares of the company's stock, valued at approximately $1,177,860.30. This represents a 5.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Oliver Reeves sold 76,569 shares of the company's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $1.31, for a total value of $100,305.39. Following the transaction, the chief financial officer directly owned 470,816 shares of the company's stock, valued at approximately $616,768.96. This represents a 13.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 190,047 shares of company stock worth $248,962 in the last ninety days. 8.00% of the stock is owned by corporate insiders.

Surf Air Mobility News Summary

Here are the key news stories impacting Surf Air Mobility this week:

• Positive Sentiment: Stonegate Capital said Q1 2026 results showed continued execution under Surf Air Mobility’s transformation plan, with revenue of $25.6 million at the high end of guidance and adjusted EBITDA loss of $12.3 million, better than the expected loss range. Article: Stonegate Capital Partners Updates Coverage On Surf Air Mobility Inc. (SRFM) 1Q26
• Positive Sentiment: Surf Air Mobility announced it joined the FAA-sponsored CAAT Consortium, becoming the first Part 135 passenger operator in the group, which may support its long-term technology and regulatory credibility. Article: Surf Air Mobility Joins FAA-Sponsored Center for Advanced Aviation Technologies Consortium
• Neutral Sentiment: Northland Securities maintained an Outperform rating and $5.00 target price, but also reiterated that Surf Air Mobility is still expected to post losses through 2026 and 2027, reflecting a long runway rather than near-term profitability. Article: Northland Securities estimates for Surf Air Mobility
• Negative Sentiment: Northland trimmed earnings estimates for several periods, including FY2026 EPS to -$0.80 from -$0.74, Q3 2026 EPS to -$0.17 from -$0.14, and Q4 2026 EPS to -$0.15 from -$0.12, signaling slightly weaker profitability expectations. Article: Northland Securities estimate cuts for Surf Air Mobility

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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