Draganfly (DPRO): Growing Defense Drone Momentum and Improving Financials Support Buy Rating and $14 Price Target

H.C. Wainwright analyst Scott Buck reiterated a Buy rating on Draganfly today and set a price target of $14.00.

Scott Buck has given his Buy rating due to a combination of factors, including Draganfly’s growing contract momentum and its positioning within an expanding defense drone market. He points to recent wins, such as the new U.S. Air Force Special Operations award, international military orders, and search-and-rescue deployments in Europe, as evidence that the company is gaining strategic traction. In his view, broader defense spending trends—particularly the shift toward high-volume, low-cost drones in the U.S. and rising budgets in NATO-aligned countries—create a favorable demand backdrop for a Canadian manufacturer like Draganfly. These dynamics underpin his expectation for a significant step-up in revenue beginning in 2026 and continued positive news flow that could act as catalysts for the stock.
At the financial level, Buck expects Draganfly to nearly double its revenues from 2025 to 2026, accompanied by improving gross margins and a narrowing EBITDA loss, which together frame a credible path toward potential profitability as early as 2027. He believes the company’s solid cash position provides sufficient capital to pursue growth without immediate balance sheet stress. On valuation, his $14 price target—based on an enterprise value to revenue multiple set slightly below that of comparable drone peers—implies substantial upside from current trading levels. While he acknowledges risks such as dilution, intense competition, execution challenges, and share price volatility, Buck concludes that the prospective growth, improving financial profile, and relative valuation support his Buy recommendation on DPRO shares.

In another report released on February 3, Northland Securities also maintained a Buy rating on the stock with a $20.00 price target.

Based on the recent corporate insider activity of 45 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 DPRO in relation to earlier this year.