Surf Air Mobility (NYSE:SRFM) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Key Points

• Analysts at Canaccord Genuity Group raised the price target for Surf Air Mobility from $3.00 to $3.75, maintaining a "hold" rating, indicating a potential downside of 15.92% from its current price.
• Piper Sandler also increased their price objective for the stock to $4.00 and assigned it an "overweight" rating, reflecting a more optimistic outlook.
• Surf Air Mobility reported quarterly earnings that exceeded expectations with a revenue of $27.43 million, surpassing the consensus estimate of $25.90 million.

Surf Air Mobility (NYSE:SRFM - Free Report) had its price objective hoisted by Canaccord Genuity Group from $3.00 to $3.75 in a research report report published on Monday morning,Benzinga reports. They currently have a hold rating on the stock.

Separately, Piper Sandler boosted their target price on shares of Surf Air Mobility from $3.00 to $4.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 10th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $6.58.

Surf Air Mobility Price Performance

Surf Air Mobility stock traded up $0.2370 during midday trading on Monday, hitting $4.6370. 1,908,355 shares of the stock were exchanged, compared to its average volume of 3,271,942. Surf Air Mobility has a 1 year low of $0.90 and a 1 year high of $9.91. The firm has a market cap of $198.60 million, a P/E ratio of -1.67 and a beta of 2.92. The company has a 50 day moving average price of $4.41 and a two-hundred day moving average price of $3.53.

Surf Air Mobility (NYSE:SRFM - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.93) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.09) by $0.16. The firm had revenue of $27.43 million for the quarter, compared to analysts' expectations of $25.90 million. Surf Air Mobility has set its Q3 2025 guidance at EPS.

Insider Transactions at Surf Air Mobility

In related news, Director Tyler Painter sold 22,000 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $5.00, for a total transaction of $110,000.00. Following the completion of the sale, the director owned 182 shares of the company's stock, valued at $910. This represents a 99.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sudhin Shahani sold 75,840 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $2.43, for a total transaction of $184,291.20. Following the sale, the director directly owned 549,578 shares of the company's stock, valued at approximately $1,335,474.54. This represents a 12.13% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 116,423 shares of company stock valued at $368,623. Insiders own 8.00% of the company's stock.

Institutional Investors Weigh In On Surf Air Mobility

A number of institutional investors have recently modified their holdings of SRFM. XTX Topco Ltd grew its position in shares of Surf Air Mobility by 44.6% during the 1st quarter. XTX Topco Ltd now owns 16,906 shares of the company's stock valued at $45,000 after buying an additional 5,214 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Surf Air Mobility by 1,235.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 19,009 shares of the company's stock valued at $70,000 after purchasing an additional 17,586 shares during the period. Jane Street Group LLC acquired a new position in Surf Air Mobility during the 4th quarter valued at about $99,000. DNB Asset Management AS acquired a new position in Surf Air Mobility during the 2nd quarter valued at about $287,000. Finally, Marshall Wace LLP acquired a new position in Surf Air Mobility during the 4th quarter valued at about $375,000. Institutional investors 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.