AeroVironment Receives a Hold from Raymond James

By Austin Angelo

Raymond James analyst Brian Gesuale maintained a Hold rating on AeroVironment (NASDAQ: AVAV) today. The company’s shares opened today at $54.47, close to its 52-week high of $58.23.

Gesuale said:

“Recommendation: AeroVironment continued its streak of better-than-anticipated results with strong top- and bottom-line performance, maintained guidance, and left the impression that guidance could prove conservative given strong orders and backlog growth. F2Q was broadly better than expected across most key metrics, with strong revenue execution, disciplined spending, 6% y/y backlog growth, and continued gross margin expansion. We are encouraged by the string of good quarters and applaud the execution over the past year, but we remain mindful that some of the exuberance in the stock today (up ~29%) is created by a short squeeze that was the result of ill-timed short report. That said, while valuation hinders some of our enthusiasm, there is plenty to be thankful for heading into the holiday season, including a loaded balance sheet, several pending long-term opportunities, and a rare spot as a drone pure play.”

According to, Gesuale is a 5-star analyst with an average return of 16.8% and a 75.0% success rate. Gesuale covers the Technology sector, focusing on stocks such as DXC Technology Company, Science Applications, and Caci International.

AeroVironment has an analyst consensus of Hold, with a price target consensus of $40.

The company has a one-year high of $58.23 and a one-year low of $24.70. Currently, AeroVironment has an average volume of 316.4K.

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AeroVironment, Inc. engages in the design, development, production, support, and operation of unmanned aircraft systems and electric transportation solutions. It operates through UAS and ESS segments.