Raymond James Financial Reiterates “Market Perform” Rating for Iridium Communications (NASDAQ:IRDM)

Iridium Communications (NASDAQ:IRDM)‘s stock had its “market perform” rating reaffirmed by equities researchers at Raymond James Financial in a report issued on Friday, MarketBeat reports.

Several other analysts have also recently commented on the stock. Morgan Stanley increased their price target on shares of Iridium Communications from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 18th. Weiss Ratings upgraded shares of Iridium Communications from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, March 10th. Barclays increased their price objective on shares of Iridium Communications from $25.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Finally, BWS Financial restated a “sell” rating and issued a $16.00 price objective on shares of Iridium Communications in a report on Wednesday, April 15th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $27.60.

Iridium Communications Price Performance

Shares of Iridium Communications stock opened at $38.96 on Friday. The company has a current ratio of 2.48, a quick ratio of 1.82 and a debt-to-equity ratio of 3.80. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 39.35, a P/E/G ratio of 2.77 and a beta of 0.48. Iridium Communications has a 1-year low of $15.65 and a 1-year high of $44.36. The firm’s 50-day moving average price is $29.27 and its two-hundred day moving average price is $22.15.

Iridium Communications (NASDAQ:IRDM) last issued its quarterly earnings data on Thursday, April 23rd. The technology company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.07). The firm had revenue of $219.06 million for the quarter, compared to the consensus estimate of $218.39 million. Iridium Communications had a return on equity of 22.83% and a net margin of 12.05%.Iridium Communications’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.27 earnings per share. On average, equities analysts predict that Iridium Communications will post 1.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Iridium Communications

In other news, CAO Timothy Kapalka sold 3,790 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $31.00, for a total transaction of $117,490.00. Following the completion of the sale, the chief accounting officer owned 47,764 shares of the company’s stock, valued at $1,480,684. This represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Iridium Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in IRDM. Royal Bank of Canada raised its holdings in shares of Iridium Communications by 33.0% during the first quarter. Royal Bank of Canada now owns 48,325 shares of the technology company’s stock worth $1,320,000 after acquiring an additional 11,985 shares during the period. Amundi raised its holdings in shares of Iridium Communications by 1,243.0% during the first quarter. Amundi now owns 40,479 shares of the technology company’s stock worth $1,035,000 after acquiring an additional 37,465 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Iridium Communications by 16.7% during the first quarter. Goldman Sachs Group Inc. now owns 232,231 shares of the technology company’s stock worth $6,345,000 after acquiring an additional 33,191 shares during the period. United Services Automobile Association acquired a new stake in shares of Iridium Communications during the first quarter worth $218,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Iridium Communications by 16.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 539,566 shares of the technology company’s stock worth $14,741,000 after acquiring an additional 75,060 shares during the period. 84.36% of the stock is currently owned by institutional investors and hedge funds.

Iridium Communications News Summary

Here are the key news stories impacting Iridium Communications this week:

• Positive Sentiment: Revenue grew ~2% year‑over‑year to $219.1M and management reiterated its full‑year 2026 outlook, supporting the company’s underlying revenue momentum from service/IoT demand. Iridium Announces First Quarter 2026 Results
• Positive Sentiment: Analysts note steady service revenue and ongoing IoT demand that underpin Iridium’s multi‑year growth drivers and strategic investments. Iridium’s Q1 Earnings Miss Estimates, Revenues Increase Y/Y
• Neutral Sentiment: Sell‑side reaction has been muted: Raymond James reaffirmed a “market perform” rating, indicating no immediate change to consensus positioning. Benzinga
• Neutral Sentiment: Full Q1 earnings call and transcripts are available for investors wanting operational color and management commentary on margins, backlog and capital allocation. Earnings Call Transcript
• Neutral Sentiment: Reported short‑interest data appears anomalous (entries show 0 shares / NaN change), so short interest is unlikely to explain the move based on available data.
• Negative Sentiment: EPS missed Street expectations: reported $0.20 vs. consensus ~$0.27, and EPS declined versus the prior year, which pressured investor sentiment and was the primary catalyst for the intra‑day selloff. IRDM Q1 Earnings and Revenues Miss Estimates
• Negative Sentiment: Market reaction included a temporary LULD trading pause (intraday volatility) and headlines noting the stock decline, which can amplify selling pressure in the near term. Iridium stock falls on earnings miss

Iridium Communications Company Profile

Iridium Communications Inc operates a global satellite communications network that delivers voice and data services across land, sea and air. The company’s unique architecture relies on a constellation of 66 low-Earth orbit satellites, enabling real-time connectivity in regions beyond the reach of terrestrial wireless networks. Iridium’s core offerings include satellite voice and messaging services, broadband data terminals, push-to-talk (PTT) interoperability and machine-to-machine (M2M) solutions for the Internet of Things (IoT).

Iridium serves a diverse range of markets, including maritime shipping, aviation, government and defense, energy, and enterprise.