Analysts Issue Forecasts for SKYX Platforms FY2028 Earnings

SKYX Platforms Corp. (NASDAQ:SKYX) – Stock analysts at Litchfield Hills Research dropped their FY2028 earnings estimates for SKYX Platforms in a note issued to investors on Tuesday, May 12th. Litchfield Hills Research analyst B. Sine now expects that the company will post earnings of $0.03 per share for the year, down from their prior forecast of $0.04. The consensus estimate for SKYX Platforms’ current full-year earnings is ($0.24) per share. Litchfield Hills Research also issued estimates for SKYX Platforms’ FY2029 earnings at $0.14 EPS and FY2030 earnings at $0.17 EPS.

SKYX Platforms (NASDAQ:SKYX) last released its earnings results on Monday, May 11th. The company reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). The company had revenue of $22.09 million during the quarter, compared to analysts’ expectations of $21.98 million.

A number of other research analysts have also recently weighed in on the stock. Lake Street Capital started coverage on shares of SKYX Platforms in a research note on Thursday, March 5th. They issued a “buy” rating and a $5.00 target price on the stock. Roth Mkm reissued a “buy” rating and issued a $5.00 price target (up from $4.25) on shares of SKYX Platforms in a research report on Thursday, January 22nd. Wall Street Zen lowered shares of SKYX Platforms from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of SKYX Platforms in a research report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, SKYX Platforms has a consensus rating of “Hold” and an average price target of $5.00.

SKYX Platforms Stock Down 5.8%

SKYX opened at $1.14 on Wednesday. The stock has a market cap of $151.27 million, a price-to-earnings ratio of -3.91 and a beta of -3,565.99. SKYX Platforms has a twelve month low of $0.96 and a twelve month high of $3.29. The company’s 50-day moving average price is $1.39 and its two-hundred day moving average price is $1.86.

Institutional Trading of SKYX Platforms

Several hedge funds and other institutional investors have recently modified their holdings of SKYX. Goldman Sachs Group Inc. raised its position in shares of SKYX Platforms by 685.0% in the first quarter. Goldman Sachs Group Inc. now owns 264,724 shares of the company’s stock valued at $302,000 after purchasing an additional 231,000 shares during the period. Jane Street Group LLC raised its position in shares of SKYX Platforms by 258.5% in the first quarter. Jane Street Group LLC now owns 190,265 shares of the company’s stock valued at $217,000 after purchasing an additional 137,193 shares during the period. Geode Capital Management LLC raised its position in shares of SKYX Platforms by 96.9% in the second quarter. Geode Capital Management LLC now owns 1,460,777 shares of the company’s stock valued at $1,527,000 after purchasing an additional 718,712 shares during the period. New York State Common Retirement Fund bought a new stake in SKYX Platforms during the 2nd quarter worth approximately $82,000. Finally, Invesco Ltd. bought a new stake in SKYX Platforms during the 2nd quarter worth approximately $34,000. Institutional investors own 11.79% of the company’s stock.

SKYX Platforms Company Profile

SKYX Platforms (NASDAQ:SKYX) provides comprehensive maintenance, repair and overhaul (MRO) services and operational support for commercial unmanned aerial systems (UAS). Through its digital platform, the company streamlines the booking, tracking and management of drone maintenance events, ensuring that operators maintain compliance with aviation regulations and industry best practices. SKYX Platforms’ offering is designed to reduce downtime, improve safety and extend the service life of UAS fleets across a wide range of applications.

The company’s service portfolio includes scheduled and unscheduled maintenance, component repair, spare parts provisioning, firmware and software updates, and field support.