Needham lowered the firm’s price target on Red Cat (RCAT) to $12 from $17 and keeps a Buy rating on the shares. The company reported strong Q3 results, with record revenues that exceeded Street expectations, but due to the government shutdown and a new product delay, Red Cat lowered 2025 revenue guidance 44% below Street expectations, the analyst tells investors in a research note. The firm adds however that while the SRR2 FRP contract is likely pushed out to Q1, the size of the opportunity is unchanged.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RCAT:
- Red Cat Holdings: Strategic Buy Amidst Record Revenues and Promising Contract Opportunities
- Closing Bell Movers: Applied Materials down 4% after earnings and guidance
- Red Cat reports Q3 EPS (16c), consensus (10c)
- Red Cat Holdings options imply 9.9% move in share price post-earnings
- Red Cat endorses partner Palladyne AI in YouTube video