Yahoo Finance Here's What Analysts Are Forecasting For Blade Air Mobility, Inc. (NASDAQ:BLDE) After Its First-Quarter Results
Blade Air Mobility, Inc. (NASDAQ:BLDE) defied analyst predictions to release its first-quarter results, which were ahead of market expectations. Revenues and losses per share were both better than expected, with revenues of US$52m leading estimates by 5.0%. Statutory losses were smaller than the analystsexpected, coming in at US$0.06 per share. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Blade Air Mobility after the latest results.
See our latest analysis for Blade Air Mobility
Taking into account the latest results, the current consensus from Blade Air Mobility's five analysts is for revenues of US$246.9m in 2024. This would reflect a reasonable 6.7% increase on its revenue over the past 12 months. Losses are predicted to fall substantially, shrinking 73% to US$0.17. Yet prior to the latest earnings, the analysts had been forecasting revenues of US$246.3m and losses of US$0.28 per share in 2024. Although the revenue estimates have not really changed Blade Air Mobility'sfuture looks a little different to the past, with a very promising decrease in the loss per share forecasts in particular.
The average price target held steady at US$7.30, seeming to indicate that business is performing in line with expectations. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. Currently, the most bullish analyst values Blade Air Mobility at US$13.50 per share, while the most bearish prices it at US$5.00. We would probably assign less value to the analyst forecasts in this situation, because such a wide range of estimates could imply that the future of this business is difficult to value accurately. With this in mind, we wouldn't rely too heavily the consensus price target, as it is just an average and analysts clearly have some deeply divergent views on the business.
Of course, another way to look at these forecasts is to place them into context against the industry itself. It's pretty clear that there is an expectation that Blade Air Mobility's revenue growth will slow down substantially, with revenues to the end of 2024 expected to display 9.0% growth on an annualised basis. This is compared to a historical growth rate of 57% over the past three years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 6.6% annually. So it's pretty clear that, while Blade Air Mobility's revenue growth is expected to slow, it's still expected to grow faster than the industry itself.
The Bottom Line
The most important thing to take away is that the analysts reconfirmed their loss per share estimates for next year. Happily, there were no major changes to revenue forecasts, with the business still expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.
With that in mind, we wouldn't be too quick to come to a conclusion on Blade Air Mobility. Long-term earnings power is much more important than next year's profits. We have forecasts for Blade Air Mobility going out to 2026, and you can see them free on our platform here.
Before you take the next step you should know about the 4 warning signs for Blade Air Mobility that we have uncovered.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
