EchoStar Valued at $159–$161 per Share; Q1 Revenue Falls 5.2%
SATS•Analyst David Barden values EchoStar at $159 per share based on current SpaceX share price, rising to $161 per share using a $165 target. EchoStar’s Q1 revenue fell 5.2% to $3.67 billion as it lost 366,000 pay-TV subscribers and posted a $146.9 million net loss.
1. Valuation Update
Analyst David Barden updated EchoStar’s valuation by factoring in roughly 52 million SpaceX shares from its spectrum sale and SpaceX’s closing price on its first trading day. At that price, EchoStar is valued at $159 per share, increasing to $161 if SpaceX reaches a $165 share price target.
2. Spectrum Transaction Overview
EchoStar agreed in September 2025 to sell spectrum licenses to SpaceX for about $17 billion, then amended in November 2025 to expand the deal to $19.6 billion. The expanded transaction includes up to $11.1 billion of SpaceX Class A common stock, implying around 52 million shares at a $212 valuation per share.
3. Q1 Financial and Operating Results
In the first quarter of 2026, EchoStar’s revenue declined 5.2% to $3.67 billion as it lost 366,000 pay-TV subscribers and HughesNet broadband shed 58,000 users. The company narrowed its net loss to $146.9 million from $202.7 million a year earlier.
