Goldman Sachs analyst Noah Poponak maintained a Hold rating on Virgin Galactic Holdings yesterday and set a price target of $3.50.
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Noah Poponak has given his Hold rating due to a combination of factors related to Virgin Galactic’s recent operating performance and cash profile. The company’s first-quarter 2026 adjusted EBITDA loss was somewhat larger than market expectations, while revenue remained minimal, underscoring that the business is still in an early, investment-heavy phase rather than a scaled commercial operation.
At the same time, free cash flow usage, though still substantial, showed some improvement versus both the prior quarter and the prior year, and management reiterated its flight test roadmap and commercial plans, indicating continued progress toward key milestones. Taken together, these elements suggest a balance of ongoing execution risk and gradual operational advancement, which in his view supports maintaining a neutral, Hold stance on the shares rather than a more decisive bullish or bearish call.
Poponak covers the Industrials sector, focusing on stocks such as Ducommun, V2X, and L3Harris Technologies. According to TipRanks, Poponak has an average return of 6.7% and a 51.57% success rate on recommended stocks.