Strengthening Fundamentals and Growing Backlog Support BlackSky Buy Rating and $42 Target

Analyst Scott Buck of H.C. Wainwright reiterated a Buy rating on BlackSky Technology, with a price target of $42.00.

Scott Buck has given his Buy rating due to a combination of factors that highlight BlackSky’s strengthening fundamentals and visibility into future growth. The company exceeded his 4Q25 revenue forecast, driven largely by rapidly expanding international demand and successful conversion of early Gen‑3 pilots into recurring subscription contracts, which together support management’s 2026 guidance.

He also points to the expanding contracted backlog, now in the mid‑$300M range, as providing solid support for multi‑year revenue projections and improving profitability. Strong gross margins, positive adjusted EBITDA, and sufficient liquidity to execute the current strategy through at least 2026 underpin his conviction, while the ongoing rollout of higher‑value Gen‑3 capabilities and a favorable risk‑reward profile justify maintaining a Buy rating and a $42 price target.

Buck covers the Technology sector, focusing on stocks such as Rezolve AI, Lightpath Technologies, and NexTech AR Solutions. According to TipRanks, Buck has an average return of 0.3% and a 30.35% success rate on recommended stocks.

In another report released on February 27, Canaccord Genuity also reiterated a Buy rating on the stock with a $26.00 price target.