Draganfly (NASDAQ:DPRO) Price Target Cut to $8.00 by Analysts at Needham & Company LLC

Draganfly (NASDAQ:DPRO) had its target price dropped by research analysts at Needham & Company LLC from $12.00 to $8.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 69.49% from the company’s previous close.

Several other equities analysts also recently commented on the company. LADENBURG THALM/SH SH raised Draganfly to a “strong-buy” rating in a research report on Wednesday, May 6th. HC Wainwright began coverage on Draganfly in a report on Friday, May 29th. They issued a “buy” rating and a $14.00 price objective on the stock. Finally, Northland Securities set a $13.00 target price on Draganfly in a report on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat.com, Draganfly has an average rating of “Strong Buy” and an average target price of $13.50.

Draganfly Price Performance

Draganfly stock opened at $4.72 on Tuesday. The company’s 50-day moving average is $5.11 and its 200-day moving average is $5.97. The firm has a market capitalization of $162.25 million, a PE ratio of -4.82 and a beta of 2.73. Draganfly has a fifty-two week low of $3.78 and a fifty-two week high of $14.40.

Draganfly (NASDAQ:DPRO) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.13). The business had revenue of $3.75 million for the quarter, compared to the consensus estimate of $2.56 million. Draganfly had a negative return on equity of 27.88% and a negative net margin of 292.88%. As a group, analysts expect that Draganfly will post -0.52 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. IFP Advisors Inc acquired a new position in shares of Draganfly during the third quarter worth $39,000. Purpose Unlimited Inc. acquired a new position in shares of Draganfly in the 4th quarter valued at about $43,000. Wexford Capital LP acquired a new position in Draganfly in the third quarter valued at approximately $67,000. Royal Bank of Canada increased its stake in shares of Draganfly by 478.4% in the 4th quarter. Royal Bank of Canada now owns 8,647 shares of the company’s stock valued at $60,000 after acquiring an additional 7,152 shares in the last quarter. Finally, GK Wealth Management LLC acquired a new stake in Draganfly in the second quarter worth $55,000. Institutional investors and hedge funds own 10.39% of the company’s stock.

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.