Spire Global (NYSE:SPIR) Given New $18.00 Price Target at Canaccord Genuity Group

Spire Global (NYSE:SPIR) had its price target hoisted by research analysts at Canaccord Genuity Group from $12.00 to $18.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 33.53% from the company’s previous close.

Several other equities research analysts have also commented on SPIR. Craig Hallum upgraded shares of Spire Global from a “hold” rating to a “buy” rating and increased their price objective for the company from $8.00 to $20.00 in a research note on Thursday. Raymond James reiterated a “market perform” rating on shares of Spire Global in a report on Wednesday, August 28th. Robert W. Baird upped their price objective on Spire Global from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday. Alliance Global Partners lifted their target price on Spire Global from $17.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Baird R W cut shares of Spire Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Spire Global has a consensus rating of “Moderate Buy” and a consensus target price of $19.60.

Spire Global Stock Performance

Shares of SPIR opened at $13.48 on Friday. The firm has a market capitalization of $327.81 million, a P/E ratio of -3.87 and a beta of 1.96. Spire Global has a 52 week low of $4.56 and a 52 week high of $19.40. The stock has a 50 day moving average price of $10.02 and a two-hundred day moving average price of $10.25. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.24 and a current ratio of 2.24.

Institutional Investors Weigh In On Spire Global

Institutional investors have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC bought a new stake in shares of Spire Global in the first quarter valued at approximately $27,000. nVerses Capital LLC bought a new stake in Spire Global during the 2nd quarter valued at $37,000. Quest Partners LLC lifted its holdings in Spire Global by 869,900.0% during the 3rd quarter. Quest Partners LLC now owns 8,700 shares of the company’s stock worth $87,000 after purchasing an additional 8,699 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Spire Global in the 2nd quarter worth about $106,000. Finally, MetLife Investment Management LLC purchased a new position in Spire Global during the 3rd quarter valued at about $136,000. 19.97% of the stock is owned by hedge funds and other institutional investors.

Spire Global Company Profile

Spire Global, Inc provides subscription-based data, insights, predictive analytics, and related project-based services worldwide. The company offers satellite-based aircraft tracking data to power applications, drive decision making, and improve cost efficiencies; data, insights, and predictive analytics for highly accurate ship monitoring, real-time and near real-time vessel updates, port operations, ship safety and route optimization; and space-based data, AI-powered insights, and predictive weather analytics for accurate weather forecasting.