SpaceMobile Drops 9% Following Downgrade Amid SpaceX Pressure
AST SpaceMobile shares dropped 9.01% after Piper Sandler cut its price target to $54 from $98, amid concerns over SpaceX competition and slow satellite launches.
AST SpaceMobile shares dropped 9.01% to $42.83 during trading on October 14, 2026, after Piper Sandler downgraded the stock rating, according to 24/7 Wall St.
The bank lowered its price target on the stock to $54 from $98 and revised its rating to "Neutral" from "Overweight," citing declining confidence in the pace of satellite launches over the next two years, according to the source.
The source noted that SpaceX represents both the company's primary launch provider and its main competitor through its direct-to-cell service, adding that there is still no confirmed launch date for the company's first BlueBird satellites.
The source added that this decline extended a previous drop in the stock during the October 13 session, as the market awaits signs of the satellite network launch schedule.
What Do These Terms Mean?
Price Target: The price an analyst expects a stock to reach over a future period.
Stock Rating: An assessment determining whether buying, holding, or selling a stock is recommended.
Direct-to-Cell: A technology that connects standard mobile phones directly to satellites without a terrestrial station.
BlueBird: The name of the satellite constellation being built by AST SpaceMobile to provide connectivity services.
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