Canaccord Genuity Reiterates Buy Rating on Spire Global (SPIR)

Canaccord Genuity analyst Austin Moeller reiterated a Buy rating and $16.00 price target on Spire Global (NYSE: SPIR).

The analyst comments "In our view, today’s announcement largely puts to bed investor concerns around a potential reduction in funding for commercial weather/climate data under the new administration. The President’s FY26 budget request specifically gave NOAA the power to negotiate contracts for weather satellites and instructed it to collect more commercial satellite data to achieve efficiencies and costs savings. In FY24 and the FY25 CR, $27.5M in funding was appropriated for NESDIS to purchase commercial satellite data under the CWDP and Commercial Data Purchase (CDP) programs. However, the total budget for NESDIS is $1.8B as of FY25, leaving plenty of room for SPIR to expand its share of wallet as part of its land-and-expand strategy. NESDIS is likely to create additional funding opportunities for produrement of data from commercial satellite operators as the Administration seeks to scale back the scope of the $19.6B GeoXO government-owned satellite fleet (the replacement for the four GOES-R satellites), which is not expected to deliver its first new weather satellite until 2032. The Senate Appropriations Committee specifically indicated in their FY26 markup that “NESDIS has not fully embraced commercial data purchases in a manner, scope, and scale that will enable sufficient private sector investment” and “strongly supports the continuation of the CDP and CWDP programs.”"

For an analyst ratings summary and ratings history on Spire Global click here. For more ratings news on Spire Global click here.

Shares of Spire Global closed at $8.82 yesterday.

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