03:25 PM EDT, 05/10/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We trim our 12-month target price by $0.50 to $0.50, applying an EV/revenue multiple of 2.0x to our 2024 estimate, a slight premium to peers, reflecting its strong customer backlog. We move our 2024 loss estimate to -$0.93 from a loss of -$1.06 and keep 2025's loss estimate at -$0.73. SPCE reported a Q1 loss of -$0.25 vs. a loss of -$0.57, $0.05 above the consensus. Q1 revenue increased to $2.0 million from $0.4 million, driven by commercial spaceflight and membership fees related to future customers. SPCE continues to push toward its delta ships. Its first ship, Eve, will be able to execute approximately 125 spaceflights carrying 750 customers to space each year. This would equate to roughly $450 million in annualized revenue within the first 12 months following entry into commercial service. We remain concerned that the rollout of Eve will face delays and SPCE may be forced to raise more capital.