Analyst Michael Funk from Bank of America Securities maintained a Hold rating on AST SpaceMobile and keeping the price target at $85.00.
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Michael Funk has given his Hold rating due to a combination of factors related to AST SpaceMobile’s current operational and financial status. The company is in the early stages of its satellite launch and manufacturing process, with a vertically integrated approach that is nearing its target run rate. While ASTS has secured launch contracts with major providers like SpaceX and Blue Origin, the full realization of its satellite constellation is not expected until the end of 2026.
Additionally, the company’s cost per satellite is projected to decrease significantly over time, but current costs remain high. ASTS has also secured over $1 billion in prepayments from mobile network operators, indicating strong future revenue potential. However, the company is still awaiting progress on multiple fronts, including government contracts and further revenue recognition. These factors contribute to the decision to maintain a Neutral rating, with a price objective of $85, as the company navigates its growth trajectory.
In another report released on November 11, UBS also maintained a Hold rating on the stock with a $43.00 price target.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ASTS in relation to earlier this year.