HawkEye 360

HAWK · NYSE

$11.90−$0.20 (−1.65%)TodayMarket closed · Oct 20, 7:51 PM ET

Prev close $12.10

HAWK analyst rating

BuyConsensus of 10 analysts over the last 12 months. 100% rate it a buy.

Strong buy1
Buy9
Hold0
Underperform0
Sell0

12-month price target · 11 analysts

Average $33.09 (+178.1% upside)

Low: $23.23
Now: $11.90
High: $43.05

Upgrades and downgrades

The latest rating actions, newest first

HAWK analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Piper Sandler	Oct 15, 2026	Initiates	Overweight	$22.00	41%
RBC Capital	Sep 30, 2026	Maintains	Outperform	$33.00 → $28.00	59%
B of A Securities	Sep 17, 2026	Upgrade	Neutral → Buy	$34.00 → $23.00	57%
Jefferies	Aug 17, 2026	Maintains	Buy	$34.00 → $31.00	55%
Craig-Hallum	Jul 27, 2026	Initiates	Buy	$25.00	55%
RBC Capital	Jun 23, 2026	Maintains	Outperform	$40.00 → $33.00	59%
Jefferies	Jun 15, 2026	Upgrade	Hold → Buy	$34.00	55%
Raymond James	Jun 1, 2026	Initiates	Strong Buy	$40.00	57%
William Blair	Jun 1, 2026	Initiates	Outperform	—	66%
RBC Capital	Jun 1, 2026	Initiates	Outperform	$40.00	59%

The case for and against

Updated Oct 15, 2026

Bull case

Hawkeye 360 is attractive because its vertically integrated SIGINT platform combines satellite design, data collection, and AI/ML analytics, creating a defensible moat that no pure-play peer replicates. Strong fundamentals support the bullish view: organic growth was 33% in 2Q26, international sales were about 42% of total sales, FY25 revenue reached $117.7M, and the company generated its first year of net income at $2.7M. Margin and cash flow potential also look compelling, with guidance for $127.5M of revenue and $33M of adjusted EBITDA in FY26, more than $500M in cash on hand, and backlog of $292M providing about 70% revenue visibility.

Bear case

Hawkeye 360 is exposed to an unusually fragile revenue base, with the top 3 customers representing ~66% of FY2025 revenue and the NRO alone at 39%, making any contract loss or government budget disruption potentially material. The company’s growth outlook also carries execution risk because the ~$166.5M December 2025 ISA acquisition and reliance on 30+ satellites add integration, launch, and operating complexity, while 3Q26 margins may face a YoY headwind from higher indirect cost of sales. Even with projected ~25% organic growth and almost ~80% total revenue growth in 3Q26, the business remains heavily dependent on U.S. government contracts and a nascent SIGINT market that may not support durable long-term earnings power.

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