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Up More Than 30% in the Past Month, is Spire Global Still a Buy? By StockNews

by Mike Robinson

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© Reuters. Spire Global Stocks Up by More Than 30% Over the Month.

The shares of Spire, a global leader in space-based analytics and data provider Spire (NYSE) Global (SPIR), have risen 33.7% since the beginning of this month due to strategic partnerships and plans to increase its growth. The stock’s recent rise in recurring revenue has been a boon. But can it sustain the current rally? Let’s find out.Space-to-cloud data and analytics company Spire Global, Inc. (SPIR) offers space-based data and services worldwide by leveraging its proprietary satellite technology to track maritime, aviation, and weather patterns. After its merger with NavSight, the world’s largest space data company started trading on NYSE on August 17. This is mainly due to its strategic partnership with NavSight to launch a mission that will demonstrate the potential of blockchain technology computation in space. The stock’s 33.7% increase over the last month has been attributed to the fact that it rose by 33%.

Analysts expect SPIR’s revenues to increase 81% year-over-year to $73.59 million in fiscal 2022. The company’s EPS is expected to rise 35.1% from the year-ago value next year.

Myriota has also joined forces with SPIR to increase its global satellite constellation and expand its space services capabilities. SPIR’s recent acquisition of exactEarth Ltd., which is a provider of global maritime vessel information, will allow it to become a leader worldwide in space-based maritime data. It is well-positioned to sustain its growth and generate solid returns as it continues to expand and add technological capabilities.

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