Ryan Koontz, an analyst from Needham, reiterated the Buy rating on Gilat. The associated price target is $16.00.
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Ryan Koontz has given his Buy rating due to a combination of factors that highlight Gilat’s strong financial performance and growth prospects. The company reported impressive third-quarter results with a significant year-over-year revenue increase of 58%, driven by both organic growth and contributions from Stellar Blu. This performance exceeded market expectations, particularly in the Peru segment, which continues to outperform.
Furthermore, Gilat’s management has raised its revenue guidance for fiscal year 2025, anticipating robust growth across all segments. The company has also secured substantial bookings, amounting to $245 million since July, with a notable contribution from the Peru market. These factors, along with the company’s strong pipeline and increased revenue and EBITDA estimates for the coming years, underpin Koontz’s confidence in Gilat’s future performance, justifying the Buy rating and an increased price target of $16.