Needham maintains Gilat Satellite Networks at Buy, lowers price target to $11 from $20

Gilat Satellite (GILT) reported Q3 2026 revenue of $116.2M, down slightly YoY, but adjusted EBITDA rose 13% to $17.6M. Defense revenue grew 53% YoY, while Commercial revenue declined. The company updated its full-year guidance, expecting revenue of $455M-$475M and adjusted EBITDA of $61M-$63M. Gilat also announced a pending acquisition of Comtech's Satellite and Space business, expected to add $180M in revenue and $80M in adjusted EBITDA, pending regulatory approval.

Gilat Satellite Networks reported Q3 2026 earnings with 13% EBITDA growth, driven by Defense segment's 53% revenue growth. Commercial revenue declined due to delays and competition. The company lowered full-year revenue guidance to $455M-$475M and adjusted EBITDA guidance to $61M-$63M. It expects to close the Comtech acquisition by year-end, adding $180M in revenue and $80M in adjusted EBITDA.

William Blair downgraded Gilat Satellite Networks' rating from Outperform to Market Perform. The move may impact investor sentiment and trading activity around the company's stock.

William Blair downgraded Gilat Satellite Networks (GILT) to Market Perform from Outperform due to reduced revenue and EBITDA guidance. The stock is near its 52-week low, down 61% over six months. Competition from Starlink and market share losses were cited. Q3 2026 revenue was $116.2M, missing estimates, but adjusted EBITDA rose 13%. Gilat maintains a solid balance sheet and expects aviation orders in early 2027.

Gilat Satellite Networks (GILT) reported Q3 2026 revenue of $116.2M, down 1% YoY but below expectations. Defense revenue surged 53%, while commercial revenue declined 4%. Adjusted EBITDA rose 13% to $17.6M. The company cut full-year revenue guidance to $455M-$475M due to satellite launch delays. The stock fell 19% post-earnings.

Gilat Satellite Networks (GILT) reported Q3 2026 adjusted earnings of $0.18 per share, beating estimates, but revenue fell 1% to $116.2M, missing expectations. Shares dropped 12.80% premarket. The company revised full-year revenue guidance down to $455M-$475M, citing project delays. Defense segment revenue grew 53%, and adjusted EBITDA rose 13%. The Comtech acquisition is expected to close by year-end.