BofA Initiates Spire Global At Neutral, Sees 20% Upside

November 30, 2021 12:13 PM | 27 seconds read | Make a Comment

BofA analyst Ronald Epstein initiated Spire Global Inc SPIR with a Neutral rating and a price target of $5.05, implying an upside of 20%.
Epstein noted that spire collects and analyzes space-based data via radio frequency using its proprietary constellation of about 120 LEMUR satellites and 29 ground stations.
The analysts further added that the company's growth is dependent on acquiring new customers and maintaining and improving its net retention rate.
Price Action: SPIR shares are trading lower by 6.7% at $4.19 on the last check Tuesday.