Needham & Company LLC Reaffirms Buy Rating for Draganfly (NASDAQ:DPRO)

Draganfly (NASDAQ:DPRO)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $12.00 price objective on the stock. Needham & Company LLC’s target price indicates a potential upside of 116.61% from the stock’s current price.

DPRO has been the subject of several other research reports. Northland Securities set a $20.00 price objective on shares of Draganfly in a research note on Thursday, January 15th. LADENBURG THALM/SH SH raised shares of Draganfly to a “strong-buy” rating in a research note on Wednesday, May 6th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of Draganfly in a research note on Monday, March 30th. Two analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat.com, Draganfly presently has an average rating of “Strong Buy” and an average price target of $16.25.

Draganfly Stock Performance

NASDAQ DPRO opened at $5.54 on Tuesday. Draganfly has a 52-week low of $1.63 and a 52-week high of $14.40. The company has a 50-day simple moving average of $5.82 and a 200 day simple moving average of $7.17. The company has a market capitalization of $190.44 million, a PE ratio of -4.26 and a beta of 2.58.

Draganfly (NASDAQ:DPRO) last posted its earnings results on Monday, May 11th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.01). The business had revenue of $1.66 million during the quarter, compared to analysts’ expectations of $1.78 million. Draganfly had a negative return on equity of 45.65% and a negative net margin of 294.03%. As a group, analysts forecast that Draganfly will post -0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Draganfly

Several hedge funds have recently bought and sold shares of DPRO. XTX Topco Ltd bought a new stake in Draganfly during the second quarter valued at approximately $65,000. Jane Street Group LLC bought a new stake in Draganfly during the second quarter valued at approximately $35,000. CWM LLC bought a new stake in Draganfly during the third quarter valued at approximately $61,000. SG Americas Securities LLC bought a new stake in Draganfly during the third quarter valued at approximately $89,000. Finally, Jones Financial Companies Lllp lifted its position in Draganfly by 224.3% during the third quarter. Jones Financial Companies Lllp now owns 3,399 shares of the company’s stock valued at $28,000 after purchasing an additional 2,351 shares during the last quarter. 10.39% of the stock is currently owned by institutional investors.

About Draganfly

Draganfly Inc (NASDAQ: DPRO) is a Canada-based developer and manufacturer of unmanned aerial systems (UAS) and related software solutions for commercial, government and academic applications. Headquartered in Saskatoon, Saskatchewan, the company specializes in designing lightweight, modular drones that integrate advanced sensor payloads—including high-resolution imaging, multispectral and thermal cameras—to gather aerial data across a range of industries.

The company’s core offerings include turnkey UAS platforms, data-capture payloads and proprietary analytics software that enable clients to perform precision agriculture monitoring, land surveying, infrastructure inspection and environmental assessment.