Northland Raises Price Target on Red Cat Holdings Stock from $13 to $15, Keeps Outperform Rating

Red Cat Holdings, Inc. (NASDAQ:RCAT) is one of the Best Small-Cap Drone Stocks to Invest In. On August 4, Northland raised the price target on Red Cat Holdings, Inc. (NASDAQ:RCAT) stock from $13 to $15, keeping an Outperform rating.

Michael Latimore from Northland Securities increased the price target on RCAT following the company’s FY2025 results and notable opportunities ahead. The company posted revenue of $5.9 million for the full year 2025. The company reduced its operating expenses by almost 26% year-over-year in FY2025, driven by a streamlined team and increased operational efficiency. The company formed strategic distribution and integration alliances with Rehman International Group in the Middle East, Unique Group in the GCC region, Elektron SAS in Colombia, and Ocean Wave Solutions in South America. These collaborations expand Red Cat’s distribution presence in key regions across the world.

Latimore pointed out that Red Cat is much more comfortable with its expectations for rapid growth given recent government actions and filings. Moreover, the company held record backlogs of $7.6 million as of April 30, 2025, compared to $4.9 million as of April 30, 2024.

Red Cat Holdings, Inc. (NASDAQ:RCAT) is a Puerto Rico-based provider of products, services, and solutions to the drone industry. The company offers services to the enterprise, military, and consumer markets.

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Disclosure: None. This article is originally published at Insider Monkey.