Austin Moeller, an analyst from Canaccord Genuity, maintained the Buy rating on Spire Global (SPIR – Research Report). The associated price target remains the same with $14.50.
Austin Moeller has given his Buy rating due to a combination of factors surrounding Spire Global’s strategic leadership changes and growth potential. The appointment of Alison Engel as the new Chief Financial Officer is a significant development, as her extensive experience in executive roles across public and private enterprises is expected to strengthen Spire’s leadership team.
Engel’s background, particularly her expertise in managing SaaS companies, aligns well with Spire’s AI/ML-centric business model, which is crucial for the company’s focus on organic growth in its core areas such as weather data, aircraft tracking, and space services. Moeller believes that with Engel’s leadership, Spire is well-positioned to refocus on these growth areas and navigate ongoing strategic initiatives, including the M&A trial with Kpler, thereby justifying the Buy rating.
SPIR’s price has also changed slightly for the past six months – from $10.060 to $9.240, which is a -8.15% drop .