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

Spire Global (NYSE:SPIRGet Free Report) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of -0.310–0.150 for the period, compared to the consensus EPS 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.

Spire Global Stock Down 0.3 %

Spire Global stock opened at $9.88 on Friday. Spire Global has a 1-year low of $2.80 and a 1-year high of $19.40. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.24 and a quick ratio of 1.67. The stock has a market cap of $240.28 million, a PE ratio of -2.84 and a beta of 2.04. The stock’s fifty day moving average is $11.40 and its two-hundred day moving average is $8.91.

Spire Global (NYSE:SPIRGet Free Report) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.25. Spire Global had a negative return on equity of 66.19% and a negative net margin of 66.72%. The company had revenue of $27.73 million for the quarter, compared to analysts’ expectations of $29.23 million. On average, sell-side analysts expect that Spire Global will post -0.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SPIR. Robert W. Baird dropped their price objective on Spire Global from $20.00 to $15.00 and set an outperform rating on the stock in a report on Thursday. Stifel Nicolaus dropped their price objective on Spire Global from $24.00 to $20.00 and set a buy rating on the stock in a report on Thursday. Canaccord Genuity Group lowered their price target on Spire Global from $24.00 to $20.00 and set a buy rating on the stock in a report on Thursday. Finally, Alliance Global Partners initiated coverage on Spire Global in a report on Thursday, April 18th. They set a buy rating and a $22.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of Buy and a consensus target price of $17.60.

Check Out Our Latest Research Report on SPIR

Insider Buying and Selling

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

Spire Global Company Profile

(Get Free Report)

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.

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