Spire Global (NYSE:SPIR) Releases Q2 2024 Earnings Guidance

Spire Global (NYSE:SPIR) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of -0.310–0.150 for the period, compared to the consensus estimate of -0.340. The company issued revenue guidance of $29.0 million-$33.0 million, compared to the consensus revenue estimate of $36.1 million. Spire Global also updated its FY 2024 guidance to -1.110–0.700 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus reduced their target price on shares of Spire Global from $24.00 to $20.00 and set a buy rating on the stock in a research note on Thursday. Alliance Global Partners assumed coverage on shares of Spire Global in a research note on Thursday, April 18th. They issued a buy rating and a $22.00 target price on the stock. Robert W. Baird reduced their target price on shares of Spire Global from $20.00 to $15.00 and set an outperform rating on the stock in a research note on Thursday. Finally, Canaccord Genuity Group cut their price target on shares of Spire Global from $25.00 to $24.00 and set a buy rating on the stock in a report on Friday, March 22nd. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of Buy and an average target price of $18.40.

Spire Global Stock Performance

SPIR stock opened at $11.34 on Thursday. The firm has a market cap of $275.79 million, a price-to-earnings ratio of -3.46 and a beta of 2.04. The firm has a 50-day simple moving average of $11.53 and a two-hundred day simple moving average of $8.82. Spire Global has a one year low of $2.80 and a one year high of $19.40. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.67 and a current ratio of 1.67.

Spire Global (NYSE:SPIR) last announced its quarterly earnings data on Wednesday, March 6th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.25. The firm had revenue of $27.73 million during the quarter, compared to analyst estimates of $29.23 million. Spire Global had a negative net margin of 60.51% and a negative return on equity of 66.20%. On average, equities analysts forecast that Spire Global will post -0.88 EPS for the current fiscal year.

Insider Activity at Spire Global

In related news, COO Theresa Condor sold 5,870 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $11.39, for a total transaction of $66,859.30. Following the sale, the chief operating officer now directly owns 235,141 shares of the company’s stock, valued at $2,678,255.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Theresa Condor sold 5,870 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $11.39, for a total transaction of $66,859.30. Following the completion of the transaction, the chief operating officer now directly owns 235,141 shares of the company’s stock, valued at approximately $2,678,255.99. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Peter Platzer sold 12,534 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $11.39, for a total value of $142,762.26. Following the transaction, the chief executive officer now owns 1,462,238 shares in the company, valued at approximately $16,654,890.82. The disclosure for this sale can be found here. 17.11% of the stock is currently owned by insiders.

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.