HawkEye's International Growth, Contracts in Focus, RBC Says

MT Newswires Live06-23

HawkEye 360 (HAWK) could benefit from stronger overseas demand and new contract wins amid US budget uncertainty, RBC Capital Markets said in a note Tuesday.

The report said the firm reported an in-line Q1 results, with inaugural guide for 2026 to come with its Q2 earnings release.

International business could become a focus as the firm works toward a customer mix of about 55% US and 45% international by 2028, the note said, adding that international contract awards of nearly $100 million in Q1 could lift its backlog.

The report also said its launch cadence and M&A are the next two potential catalysts ahead of Q2 results.

"The NT pressure on defense-tech and space stocks could be overdone and see HAWK execution as having the potential to re-rate positively," the note said.

"However, budget uncertainty is likely to remain an overhang," it added. RBC cut its price target to $33 from $40 while keeping its outperform rating.

Price: 21.48, Change: -0.80, Percent Change: -3.59

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