Lake Street Lifts BlackSky Target to $36 After $21M Q1 Revenue and $160M Contracts
Lake Street raised its price target to $36 from $26 after BlackSky reported Q1 revenue of $21 million, a 14% sequential increase in its space-based intelligence and AI services and a cash balance of $118 million. The company secured $160 million in new contracts, prompting raised full-year guidance.
1. Analyst Price Target Increase
Lake Street increased its price target on BlackSky to $36 from $26 as the stock traded near $35.71, reflecting confidence following strong quarterly metrics.
2. Q1 Financial Results
BlackSky delivered Q1 2026 revenue of $21 million, marking a 14% sequential rise in space-based intelligence and AI services, while maintaining a $118 million cash reserve.
3. Contract Wins and Guidance
The company secured up to $160 million in new contracts—including a $25 million multi-year subscription and a $30 million defense deal—leading management to raise full-year revenue and adjusted EBITDA guidance.