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

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

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

Draganfly Stock Performance

Shares of DPRO opened at $5.54 on Tuesday. Draganfly has a fifty-two week low of $1.63 and a fifty-two week high of $14.40. The firm has a market cap of $190.44 million, a price-to-earnings ratio of -4.26 and a beta of 2.58. The firm has a 50 day moving average price of $5.82 and a 200-day moving average price of $7.17.

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

Institutional Investors Weigh In On Draganfly

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its holdings in Draganfly by 224.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,399 shares of the company’s stock valued at $28,000 after buying an additional 2,351 shares during the last quarter. IFP Advisors Inc bought a new stake in Draganfly during the 3rd quarter valued at $39,000. Purpose Unlimited Inc. bought a new stake in Draganfly during the 4th quarter valued at $43,000. Royal Bank of Canada raised its holdings in Draganfly by 478.4% during the 4th quarter. Royal Bank of Canada now owns 8,647 shares of the company’s stock valued at $60,000 after buying an additional 7,152 shares during the last quarter. Finally, CWM LLC bought a new stake in Draganfly during the 3rd quarter valued at $61,000. 10.39% of the stock is currently owned by institutional investors.

Draganfly Company Profile

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.