Piper Sandler initiated coverage of AST SpaceMobile (ASTS) on July 16, 2026. The firm issued an Overweight rating for the stock. Analysts set a price target of $100. The firm cited an attractive risk-reward profile and a clear path to earnings growth.
The company develops satellites that connect directly to standard smartphones. Partnerships with AT&T, Verizon, and Vodafone provide access to over 3 billion potential subscribers. Piper Sandler forecasts 2026 revenue at $166 million. The firm expects annual revenue to exceed $5 billion by 2031.
Competition from SpaceX’s Starlink direct-to-cell service remains the primary risk. Shares experienced volatility and fell following the announcement. This decline coincided with the pricing of a $1 billion convertible senior notes offering.