You could examine AST SpaceMobile’s (NASDAQ: ASTS) stock price and make a compelling case that it is highly overvalued, but you’d have to overlook its industry, growth trajectory, and earnings outlook. While the $38.50 price tag traded in mid-June seems high for a company with only $0.7 million in revenue, it reached an inflection point in FQ1 that has it on track to sustain hyper growth for several years, achieve profitability with two, and to grow earnings at a comparable hyper pace for the subsequent few years. It trades at roughly 2x 2030 earnings in this scenario.
AST SpaceMobile is not alone in its quest to build a global network of low-Earth orbit satellites that service the Internet and mobile markets everywhere. However, it is among the leaders in this multi-billion-dollar industry.
