Analyst Hamed Khorsand from BWS Financial maintained a Sell rating on Iridium Communications and keeping the price target at $16.00.
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Hamed Khorsand has given his Sell rating due to a combination of factors tied to weakening fundamentals and competitive pressures at Iridium Communications. He notes that first-quarter results revealed early signs of strain in the core business, as net additions in IoT subscribers came in below the company’s historical pace, suggesting demand is losing momentum despite prior strength in this segment.
Khorsand also highlights that Iridium’s long-term bet on direct-to-device silicon, expected to appear in mobile hardware around 2027, faces an increasingly crowded market, while its broadband offering already appears dated relative to rivals. In his view, the company’s current revenue outlook signals that service operations are under pressure, and muted growth even after 2026 price hikes may encourage competitors to poach Iridium’s customers, reinforcing his unchanged $16 price target and Sell recommendation.