BTIG Cuts AeroVironment, Inc. (AVAV)’s Price Target To $330, Maintains Buy Rating

Core Viewpoint - AeroVironment, Inc. (NASDAQ:AVAV) is recognized as one of the top drone stocks to invest in over the next three years, despite recent adjustments in price targets by analysts following disappointing Q3 2026 financial results [1][5]. Financial Performance - The company's Q3 2026 results revealed diluted earnings per share of $0.64 and quarterly revenue of $408 million, which fell short of Wall Street expectations of $0.68 and over $476 million respectively [2]. - AeroVironment's unfunded backlog at the end of the quarter was reported at $3 billion, which includes $1.4 billion associated with the U.S. Space Force's Satellite Communications Augmentation Resource (SCAR) program, now deemed unlikely to be awarded [3]. Analyst Reactions - BTIG analyst Andre Madrid reduced the price target for AeroVironment to $330 from $415 while maintaining a Buy rating, attributing the share price decline more to weak performance in the Cyber & Mission Systems segment rather than the SCAR contract termination [2][4]. - Canaccord Genuity also lowered its price target to $300 from $330, citing the SCAR contract termination but retained a Buy rating, indicating a strong buy sentiment with an average upside of 49% as of March 13 [5].