Archer Aviation Inc. (ACHR) saw its shares soar 5.05% in Friday's pre-market trading session, despite reporting a wider-than-expected loss for the fourth quarter ended December 31, 2024.
The electric vertical takeoff and landing (eVTOL) aircraft maker posted a quarterly adjusted loss of $0.45 per share, missing analyst expectations of a $0.29 per share loss. Revenue for the quarter came in at zero, below the $3 million estimate.
However, analysts remain bullish on Archer Aviation's prospects. The company currently holds an average "Buy" rating from Wall Street analysts, with a median 12-month price target of $12.25, implying significant upside from current levels. Additionally, earnings estimates for the company have been revised higher in recent months, suggesting optimism about Archer's future performance.
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