Spire Global (OTCMKTS:SPIR) Releases Q2 2022 Earnings Guidance

Spire Global (OTCMKTS:SPIRGet Rating) issued an update on its second quarter 2022 earnings guidance on Wednesday morning. The company provided earnings per share guidance of -$0.12–$0.11 for the period, compared to the consensus earnings per share estimate of -$0.12. The company issued revenue guidance of $18.20 million-$19.20 million, compared to the consensus revenue estimate of $21.01 million.Spire Global also updated its FY 2022 guidance to -$0.43–$0.39 EPS.

Several research analysts recently commented on the stock. Piper Sandler decreased their target price on shares of Spire Global from $6.50 to $4.30 and set a neutral rating on the stock in a research note on Tuesday, February 1st. Zacks Investment Research downgraded shares of Spire Global from a hold rating to a sell rating in a research note on Tuesday. Stifel Nicolaus started coverage on Spire Global in a research note on Thursday, March 3rd. They issued a buy rating and a $6.00 target price on the stock. Raymond James started coverage on Spire Global in a research report on Thursday, April 21st. They set an outperform rating and a $4.00 price target for the company. Finally, Bank of America cut Spire Global from a neutral rating to an underperform rating and reduced their target price for the company from $5.05 to $1.75 in a research note on Wednesday, January 19th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $4.86.

Spire Global stock opened at $1.41 on Wednesday. Spire Global has a fifty-two week low of $1.25 and a fifty-two week high of $19.50. The stock’s 50 day simple moving average is $1.82 and its two-hundred day simple moving average is $2.93.

Spire Global (OTCMKTS:SPIRGet Rating) last released its earnings results on Wednesday, May 11th. The technology company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Spire Global by 136.7% in the first quarter. Vanguard Group Inc. now owns 4,812,174 shares of the technology company’s stock worth $10,106,000 after buying an additional 2,778,876 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Spire Global by 500.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,096,198 shares of the technology company’s stock worth $2,302,000 after acquiring an additional 913,698 shares during the last quarter. Geode Capital Management LLC bought a new position in Spire Global in the 4th quarter valued at approximately $3,004,000. Penserra Capital Management LLC boosted its stake in Spire Global by 10.9% during the 1st quarter. Penserra Capital Management LLC now owns 436,572 shares of the technology company’s stock valued at $916,000 after purchasing an additional 43,051 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Spire Global by 398.5% in the 1st quarter. State Street Corp now owns 415,711 shares of the technology company’s stock worth $873,000 after purchasing an additional 332,315 shares in the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

About Spire Global (Get Rating)

Spire Global, Inc provides space-based data, analytics, and space services worldwide. It offers its customers with access to datasets and insights about earth from the ultimate vantage point. The company provides current and historical data, insights, and predictive analytics for accurate ship monitoring, real-time vessel updates, port operations, and ship safety and route optimization; global satellite-based aircraft tracking data to power applications, drive decision making, and improve cost efficiencies; and space-based data, artificial intelligence-powered insights, and predictive weather analytics, as well as space-as-a-service solutions.

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Earnings History and Estimates for Spire Global (OTCMKTS:SPIR)

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