BlackSky Technology: Promising Growth with Strategic Satellite Expansion and AI Capabilities Justifies Buy Rating

Analyst Austin Moeller from Canaccord Genuity maintained a Buy rating on BlackSky Technology (BKSY – Research Report) and keeping the price target at $14.00.

Austin Moeller has given his Buy rating due to a combination of factors that highlight BlackSky Technology’s promising growth trajectory. The recent successful launch of the second Gen-3 imaging satellite by Rocket Lab is a significant milestone, aligning with BlackSky’s strategic plan to enhance its satellite constellation. This achievement supports the company’s initiative to roll out its ‘Early Access Program,’ allowing select customers to access high-resolution imagery, which is expected to strengthen customer engagement and expand the company’s backlog.
Furthermore, BlackSky’s ability to rapidly deliver AI and machine learning analytics from new high-resolution imagery demonstrates strong execution capabilities. The anticipated increase in imaging capacity and revisit rates positions BlackSky favorably for additional task orders under the National Reconnaissance Office’s $1.02 billion EOCL program. Additionally, the potential untapped opportunities under the $200 million LUNO B IDIQ for GEOINT data and analytics further bolster BlackSky’s prospects. These factors collectively justify the Buy rating and the $14 price target, reflecting a positive outlook based on a revenue multiple forecast for 2025.

Moeller covers the Industrials sector, focusing on stocks such as Spire Global, Vertical Aerospace, and Archer Aviation. According to TipRanks, Moeller has an average return of 6.4% and a 43.75% success rate on recommended stocks.

In another report released yesterday, Lake Street also maintained a Buy rating on the stock with a $18.00 price target.