#4 - AeroVironment (NASDAQ:AVAV)
AeroVironment Inc. (NASDAQ: AVAV) is another mid-cap stock on this list of drone stocks to watch. If you’re looking for a pure-play drone stock, AeroVironment is the one.
Since 2022, the company has been in the news as its Switchblade 300s one-way kamikaze drones have been used heavily in the Ukraine war. In fact, the company has delivered the vast majority of all uncrewed aircraft for the U.S. Department of Defense.
AeroVironment is also a savvy investment in the space economy. In 2021, the company’s Ingenuity (i.e., the Mars helicopter), developed through a partnership with NASA, was the first aircraft to achieve powered, controlled flight on another planet.
AVAV stock is up more than 61% in 2024 and that’s even after a nearly 10% drop in the stock price since the middle of June. Still, analysts have a consensus Buy rating on the stock with BTIG Research, reiterating a bullish $245 price target on the stock in mid-September.
About AeroVironment
AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates through Small Unmanned Aircraft Systems (SUAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS) segments.
Read More - Current Price
- $194.89
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 6 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $213.50 (9.5% Upside)
