Read How Analysts Reacted To AeroVironment's Q3 Earnings Report

  • RBC Capital analyst Ken Herbert raised the price target on AeroVironment, Inc. AVAV to $70 (4% downside) from $65 and maintained a Sector Perform rating on the shares after its Q3 earnings.
  • The analyst states that while fundamentals appear to be improving for the company, the results also highlighted continued budget and supply chain risk, warning that the stock could give back some of its recent gains.
  • Canaccord Genuity analyst upgraded AeroVironment from Hold to Buy.
  • Recently, AeroVironment reported a third-quarter FY22 revenue increase of 14% year-over-year to $90.1 million, missing the consensus of $106.72 million.
  • Gross margin decreased to 24% from 36% in the quarter, and loss from operations was $(14.1) million compared to $(0.6) million in 3Q21.
  • Adjusted PS improved to $0.32 from $0.14 a year ago, beating the consensus of $0.30.
  • As of January 29, 2022, the funded backlog was $226.3 million.
  • AeroVironment's cash used in operating activities year-to-date was $23.18 million, compared to cash generated of $78.96 million a year ago.
  • FY22 Outlook, reaffirmed: AeroVironment expects revenue of $440 million -$460 million versus the consensus of $451.39 million.
  • It sees net loss of $(12) million - $(8) million, Non-GAAP adjusted EBITDA of $59 million - $65 million and Non-GAAP EPS of $1.23 - $1.37 (consensus $1.30).
  • Price Action: AVAV shares are trading higher by 0.30% at $73.20 on the last check Friday.
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