Analysts Set Safe Pro Group Inc. (NASDAQ:SPAI) Price Target at $10.00

Safe Pro Group Inc. (NASDAQ:SPAI) has earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $10.00.

SPAI has been the topic of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Safe Pro Group in a research note on Thursday, January 22nd. Zacks Research cut shares of Safe Pro Group from a “hold” rating to a “strong sell” rating in a report on Thursday, February 5th. Wall Street Zen lowered shares of Safe Pro Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Finally, Lake Street Capital started coverage on Safe Pro Group in a report on Tuesday, November 18th. They set a “buy” rating and a $9.00 price target on the stock.

Institutional Investors Weigh In On Safe Pro Group

A number of large investors have recently made changes to their positions in SPAI. Atlantic Union Bankshares Corp bought a new position in shares of Safe Pro Group in the 4th quarter worth approximately $42,000. Prospera Financial Services Inc bought a new position in Safe Pro Group in the third quarter worth approximately $82,000. Forefront Wealth Management Inc. purchased a new position in shares of Safe Pro Group during the 3rd quarter worth $214,000. Forefront Wealth Partners LLC bought a new stake in shares of Safe Pro Group during the 3rd quarter valued at $214,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of Safe Pro Group in the 3rd quarter worth $393,000.

Safe Pro Group Stock Performance

Shares of SPAI opened at $4.50 on Friday. The company has a market cap of $94.37 million, a price-to-earnings ratio of -6.00 and a beta of 3.71. The business’s fifty day simple moving average is $4.89 and its two-hundred day simple moving average is $5.51. Safe Pro Group has a 12 month low of $1.47 and a 12 month high of $9.16. The company has a current ratio of 7.60, a quick ratio of 7.16 and a debt-to-equity ratio of 0.02.

Safe Pro Group (NASDAQ:SPAI) last announced its quarterly earnings results on Friday, November 14th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.18). Safe Pro Group had a negative net margin of 968.74% and a negative return on equity of 280.18%. The business had revenue of $0.10 million for the quarter, compared to the consensus estimate of $0.10 million.

Safe Pro Group declared that its board has authorized a share repurchase plan on Thursday, December 18th that permits the company to repurchase $3.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

About Safe Pro Group

Safe Pro Group, Inc engages in the provision and acquisition of security and protection products. Its products include Artificial Intelligence (AI) and Machine Learning (ML) software technology and photogrammetry analysis tools, bullet and blast resistant personal protection equipment, and aerial managed services and mission-critical uncrewed solutions. The firm operates through the following segments: Safe-PRO USA, Airborne Response, and Safe Pro AI. The company was founded by Daniyel Erdberg on December 15, 2021 and is headquartered in Aventura, FL.