Iridium's (IRDM) Project Stardust to Advance D2D Connectivity
Iridium Communications IRDM has unveiled Project Stardust, marking the evolution of its direct-to-device (D2D) strategy through the development of a 3GPP 5G standards-based Narrowband-Internet of Things (NB-IoT) Non-Terrestrial Network (NB-NTN) service.
The solution will be integrated into Iridium's existing satellite network, which will position the company uniquely to deliver both proprietary and standardized D2D and IoT services globally. Iridium's low-Earth orbiting (LEO) satellites present a strategic opportunity for collaboration with smartphone companies, OEMs, chipmakers, mobile network operators (MNO) and IoT developers.
The company's initial NB-IoT offering is designed to support 5G NTN messaging and SOS capabilities for various consumer applications such as smartphones, tablets and cars. This service enables device manufacturers to integrate satellite connectivity into standardized devices by utilizing Iridium's globally allocated spectrum and offering a superior low-latency LEO user experience.
Iridium Communications Inc Price and Consensus
Iridium Communications Inc price-consensus-chart | Iridium Communications Inc Quote
The Iridium satellite constellation, with its fully crosslinked LEO architecture and global L-band spectrum, offers a competitive advantage over other satellite networks. It is certified for safety of life services and stands out for its reliability and worldwide connectivity. The company is actively collaborating with D2D and IoT-focused partners to incorporate their use cases and anticipates testing to commence in 2025, with service expected in 2026.
Iridium provides weather-resilient L-band connectivity and global coverage compared to geostationary systems by leveraging its Low-Earth-Orbit satellite network. Iridium services roughly 1.7 million IoT users as of the third quarter of 2023. Over the previous five years, the company's subscriber base witnessed a 15% CAGR. Approximately 900,000 of these clients use satellite messengers and personal trackers for business, government and consumer use.
The company shares a strategic relationship with various government organizations, including military and disaster response agencies and non-governmental organizations, to provide robust, tactical, real-time voice and low-latency data command and control communications on a regular basis.
Iridium currently has a Zacks Rank #3 (Hold). Shares of the company have lost 37.3% in the past year compared with the sub-industry’s fall of 32%.
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Stocks to Consider
Some better-ranked stocks worth considering in the broader technology space are Blackbaud BLKB, NETGEAR NTGR and Watts Water Technologies WTS. Blackbaud sports a Zacks Rank #1(Strong Buy), while Watts Water Technologies and NETGEAR carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Blackbaud’s 2023 earnings per share (EPS) has inched up 1.8% in the past 60 days to $3.86. BLKB’s long-term earnings growth rate is 23.4%.
Blackbaud’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 10.6%. Shares of BLKB have gained 32.4% in the past year.
The Zacks Consensus Estimate for 2023 is pegged at a loss of 9 cents per share for NETGEAR, which remained unchanged in the past 30 days.
NTGR’s earnings outpaced the Zacks Consensus Estimate in three of the last four quarters while missing once. The average surprise was 127.5%. Shares of NTGR have lost 27.3% in the past year.
The Zacks Consensus Estimate for Watts Water Technologies 2023 EPS has improved 3.9% in the past 60 days to $8.08.
WTS’ earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 11.8%. Shares of WTS have soared 25.5% in the past year.
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