AST SpaceMobile Receives Buy Rating from Clear Street, Sets Price Target of $59

Clear Street analyst initiates coverage with a Buy rating and sets a price target of $59.00 for AST SpaceMobile. The company's shares closed at $42.50. This is in addition to a previous Buy rating from Roth MKM, but a Hold rating from Bank of America Securities. ASTS market cap is $15.43B and P/E ratio is -22.70. Corporate insider sentiment is negative, with an increase in insiders selling shares.

In the latest trading session, AST SpaceMobile, Inc. (ASTS) closed at $42.50, marking a -6.51% move from the previous day [1]. The company's shares have seen an increase of 27.3% over the last month, surpassing the Computer and Technology sector's gain of 5.6% and the S&P 500's gain of 3.85% [1]. ASTS's stock performance was behind the S&P 500's daily gain of 0.61%, but ahead of the Dow's 0.49% and the Nasdaq's 0.95% gain [1].

Adding to the recent attention, Clear Street analyst initiated coverage with a Buy rating and set a price target of $59.00 for AST SpaceMobile [2]. This rating comes on the heels of a previous Buy rating from Roth MKM, while Bank of America Securities maintains a Hold rating [2]. The market capitalization of ASTS stands at $15.43 billion, with a P/E ratio of -22.70 [2].

The company's recent earnings report is anticipated to show an EPS of -$0.19, marking a 35.71% fall compared to the same quarter of the previous year [1]. Meanwhile, the latest consensus estimate predicts the revenue to be $5.15 million, indicating a 472.22% increase compared to the same quarter of the previous year [1]. For the full year, the Zacks Consensus Estimates are projecting earnings of -$1 per share and revenue of $62.5 million [1].

Investors should also note any recent changes to analyst estimates for AST SpaceMobile, Inc. [1]. The company is currently sporting a Zacks Rank of #3 (Hold), with a Zacks Industry Rank of 192, positioning it in the bottom 23% of all 250+ industries [1].

AST SpaceMobile, Inc. is a satellite designer and manufacturer, building a cellular broadband network in space to operate directly with standard, unmodified mobile devices [2]. The company has focused on eliminating the connectivity gaps faced by mobile subscribers and finally bringing broadband to the billions who remain unconnected.

References:
[1] https://finance.yahoo.com/news/ast-spacemobile-inc-asts-stock-221503212.html
[2] https://marketchameleon.com/Overview/ASTS