Core Viewpoint - Voyager Technologies, Inc. (NYSE:VOYG) is recognized as one of the best small-cap defense stocks to buy, despite a recent price target reduction by Keybanc due to concerns over a prolonged government shutdown [1][2]. Financial Performance - The company reported third-quarter fiscal 2025 revenue of $39.6 million, which remained largely flat year-over-year [3]. - Adjusted EPS showed a loss of $0.22, an improvement from a loss of $1.56 in the same quarter of the previous year [3]. Market Position and Growth Potential - Keybanc maintains an Overweight rating on VOYG, highlighting the company's potential to benefit from growth in the defense and space markets through contract awards and Starlab development [1][2]. - The Defense and National Security revenue grew by 31% year-over-year, while revenue from Space Solutions declined nearly 41% due to the winding down of a multi-year contract with NASA [4]. Stock Performance - VOYG shares have experienced a decline of over 40% in the past month, continuing after the earnings call [3]. - Despite the price target cut from $50 to $45, the revised target still indicates a 126% upside from the closing price of $19.87 on November 14 [2].