Global Star GSAT recently partnered with Liquid Intelligent Technologies, a subsidiary of Cassava Technologies, to provide reliable, high-speed 5G connectivity across Africa, the Middle East and the Gulf region, particularly in sectors such as mining and high-end enterprise markets.
As part of Cassava Technologies’ operations, Liquid Intelligent Technologies is known for providing digital infrastructure across Africa, with a 110,000km long fibre optic broadband network and satellite connectivity ensuring high speed internet across the country.
The agreement gives Liquid Intelligent Technologies exclusive rights to sell and distribute Globalstar’s XCOM RAN private network 5G access solutions in the Gulf region, the Middle East and Africa. The premium technology is designed to enhance the 5G experience and support AI-driven applications.
GSAT highlighted the difference between its XCOM RAN products and traditional wireless solutions: XCOM RAN is specifically designed to support mission-critical, high-performance wireless applications. Combining this technology with Globalstar’s licensed n53 mid-band spectrum creates a powerful solution for private and enterprise 5G networks.
Beyond mining, XCOM RAN offers potential capacity gains in dense wireless environments, making it an ideal solution for warehouse automation, distribution centers, stadiums and campuses.
Global Star Co., Ltd. Price and Consensus
Globalstar, Inc. Price Consensus Chart | Globalstar, Inc. Quote
Globalstar provides satellite voice and data services to commercial and recreational users in more than 120 countries worldwide. Its products include mobile and fixed satellite phones, one-way and two-way satellite data modems, and flexible service packages. Recently, the company received a 15-year extension of its advanced HIBLEO-4 license from the U.S. Federal Communications Commission, allowing it to operate up to 26 alternative satellites.
GSAT’s latest quarterly revenues rose 10% year over year to $60.4 million, driven by higher services revenue amid weak demand in its subscriber equipment business. Revenue beat the Zacks Consensus Estimate by 5%. The company updated the low end of its full-year 2024 revenue outlook. It now expects net sales of $235 million to $250 million, up from its previous guidance of $225 million to $250 million.
GSAT currently has a Zacks Rank #3 (Hold). GSAT shares have risen 36.8% compared to the industry’s decline of 31.1%.
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Stocks to consider
Top-ranked stocks in the broader technology sector include: Arista Networks, Inc..ANET, Harmonic CorporationHLIT and CommScope Holdings Inc. COMM. ANET and HLIT each currently carry a Zacks Rank #1 (Strong Buy), while COMM carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks serves top-tier customers, including global Fortune 500 companies, in markets including cloud giants, enterprises, financial institutions and specialized cloud service providers. Over the past four quarters, the average revenue surprise was 15.02%. In the most recent quarter, Arista delivered a revenue surprise of 8.25%.
Harmonic enables media companies and service providers to deliver ultra-high quality broadcast and OTT video services to consumers around the world. HLIT has seen average revenue grow 32.5% over the past four quarters.
CommScope Holding is a leading provider of infrastructure solutions, including wireless and fiber optic solutions for the core, access and edge layers of communications networks. COMM is expected to have a long-term growth rate of 18.15%.
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