BlackSky (NYSE: BKSY) is a company founded in 2014 that provides space-based intelligence primarily for governments, and is a major competitor to Planet Labs (NYSE: PL).
Could it be a portfolio staple?
The U.S. Space Force, DOGE and Thiel
There are several factors macroeconomically (and politically), that arguably make BlackSky a good bet. One is the fact that multiple conflicts around the globe are showing no signs of abating. In addition, BlackSky has been working in tandem with authorities looking to counter international criminal networks.
This, paired with the fact that Peter Thiel is involved with BlackSky but not as particularly publicly-facing as Elon Musk, means the reputation risk is low(ish).
Thiel – the main force behind Palantir – is a major backer with a roughly ~10% share in the firm. As such, the two firms do work closely with one another, with data collected by BlackSky shared with Palantir.
But, Elon Musk’s DOGE-style cuts of the government have been cited as a reason for potential future earnings misses by BlackSky, with the firm downgrading its outlook of 2025 full-year as “change was driven by near term volatility from the U.S. government budget process”, amongst other contract issues, via BusinessWire.
Mixed Fundamentals at BlackSky
The firm has had a recent string of good news, with a highlight being the unveiling of a new type of image collection. These novel observation satellites are being developed to image extensive ‘country-wide’ regions. This will include wide geographical scope, encompassing national-scale cartography, marine surveillance, and the generation of digital twins of physical environments.
However, its earnings growth is not as fast as it could be, and lately comes out with major misses every other quarter.
BlackSky is a Perfect Wyckoff Accumulation
Okay, squiggly line time.
The technical chart does look strong. BlackSky, is exhibiting a showing of a classic Wyckoff Accumulation, with the ticker currently resting on the Last Point of Supply.
A short-term target of $36 – $54 is looking very likely, with a buy now that could potentially achieve a stellar return even at the bottom of the Wyckoff Accumulation target upside. And if you think space is the future, an ATH of $140 could be on the cards if the fundamentals get rectified.
The Speculatour’s Disclosure: Not financial advice. No guidance is provided for any particular investor, asset prices can fall as well as rise. The Speculatour is not a licensed securities dealer, broker, investment bank or advisor.
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