ASTS
Q2 said “meh,” Wall Street said “let’s re-run the math”
AST SpaceMobile just turned in a rough second quarter: adjusted loss came in at 35 cents a share, wider than the 28-cent loss analysts were looking for, and revenue landed at $31.52 million versus expectations for about $34.98 million. Still, shares were up 1.8% in premarket trading to $69.96, because apparently even a miss can get a polite golf clap when the story is bigger than one quarter.
The real action: analysts moved their goalposts
The headline wasn’t just the earnings miss — it was what came next. Cantor Fitzgerald kept an Overweight rating and nudged its price target up from $80 to $90, while Piper Sandler also stayed Overweight but trimmed its target from $100 to $98.
That’s classic Wall Street behavior: same team, slightly different scoreboard. Nobody sounds ready to abandon the ASTS narrative, which is really the point.
Why investors should care
AST SpaceMobile also reaffirmed full-year revenue guidance of $150 million to $200 million, which is still below the $168.88 million consensus estimate. Translation: management is sticking to the plan, but the market now has to decide whether the satellite-cellular dream is progressing fast enough to justify the valuation gravity-defying act.
Big picture: this isn’t a “story over” moment. It’s more like investors got a reminder that ASTS is still in the part of the movie where the rocket is on the launchpad, not necessarily in orbit yet.