10 Best Space Stocks To Buy According To Analysts

8. Spire Global, Inc. (NYSE:SPIR)

Average Share Price Upside Potential as of January 16: 17.43%

Number of Hedge Fund Holders: 1

Spire Global, Inc. (NYSE:SPIR) operates the world’s largest multipurpose satellite constellation. The company provides space-based data, analytics, and uses radio frequency technology to observe the Earth in real time. It is one of the best space stocks to buy according to analysts.

In September 2024, the company was awarded a one-year $3.8 million contract from the National Oceanic and Atmospheric Administration (NOAA) to provide satellite weather data, which will be used by NOAA for operational weather forecasts and climate research.

Earlier in the year in August, Spire Global, Inc. (NYSE:SPIR) announced receiving three multi-million contracts focused on national security, climate research, and weather forecasts, underpinning the company’s quest to improve life on the planet from space.

This included a $14 million contract awarded by the U.S. Air Force Research Laboratory (AFRL) to enhance situational awareness of the defense forces through satellites that detect and track moving objects on Earth. The contract will run for 48 months. The company also received a £3.5 million grant from the UK Space Agency to enhance global weather forecasting.

Spire Global, Inc. (NYSE:SPIR) achieved a milestone in new contract bookings during the third quarter of 2024, bringing in $40 million worth of contracts – the largest quarterly value of bookings in its history. The robust inflow of contracts has led to a general bullish sentiment around SPIR, with Wall Street analysts having a consensus Strong Buy rating for the stock.