Gilat Satellite Beats Estimates, Secures $16M Defense and $10M LEO Contracts
Gilat Satellite Networks beat estimates for EPS and revenue in its Feb. 10 quarterly report and secured a $16 million Ministry of Defense order plus a $10 million LEO constellation ground infrastructure contract. Needham reiterated its Buy rating and set a $20 price target.
1. Quarterly Earnings Beat Estimates
On February 10, Gilat Satellite Networks reported fourth-quarter results, delivering earnings per share and revenue figures that exceeded analyst projections. This marks consecutive quarters of stronger-than-expected performance, supporting the company’s growth momentum in its core satellite communications business.
2. Secures $16M Defense and $10M LEO Contracts
Gilat announced a $16 million order from a European Ministry of Defense alongside a $10 million contract to supply ground infrastructure for a LEO satellite constellation. These awards enhance the company’s backlog and demonstrate robust demand for secure defense communications and emerging low-earth-orbit networks.
3. Needham Maintains Buy Rating with $20 Target
Needham Capital reiterated its Buy rating on Gilat and raised its price target to $20, reflecting confidence in the company’s contract pipeline and improving financial metrics. The firm highlighted Gilat’s ability to convert new orders into revenue and sustain profitability on expanding government and commercial projects.