KARMAN HOLDINGS INC: NEEDHAM BEGINS ANALYSIS WITH BUY RATING; SETS TARGET PRICE AT $125
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 13 2026
0mins
Should l Buy KRMN?
Source: moomoo
Company Overview: Karman Holdings is initiating coverage with a buy rating, indicating a positive outlook on the company's performance.
Target Price: The target price set for Karman Holdings is $125, suggesting potential growth and investment interest.
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Analyst Views on KRMN
Wall Street analysts forecast KRMN stock price to fall
7 Analyst Rating
7 Buy
0 Hold
0 Sell
Strong Buy
Current: 84.070
Low
70.00
Averages
80.50
High
89.00
Current: 84.070
Low
70.00
Averages
80.50
High
89.00
About KRMN
Karman Holdings Inc. conducts business as Karman Space and Defense, which specializes in the design, development and production of critical, next-generation system solutions for launch vehicle, satellite, spacecraft, missile defense, hypersonic and unmanned aircraft systems (UAS) customers. Its integrated payload protection, propulsion, and interstage system solutions are deployed across a wide variety of existing and emerging programs supporting important Department of Defense (DoD) and space sector initiatives. It has developed a proprietary portfolio of technically complex products and capabilities with specialization in complex nozzles and other engineered products for launch vehicle engine applications. Its payload protection system involves the full design and manufacturing of the top section of a booster, launch vehicle, payload, or missile system. Its propulsion systems involve the integrated offering of solid rocket motor subsystems, launch systems, and ablative composites.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Karman Sees 14% Drop: A Chance or a Red Flag for This Defense Favorite?
Karman's Stock Performance: Karman (NYSE: KRMN) saw a significant rise in 2025, with shares increasing over 300% from its IPO price of $22, reaching nearly $73, but has since dropped about 25% from its all-time high in January 2026.
Revenue Growth and Margins: The company reported impressive revenue growth of 37% in 2025, totaling $471.5 million, with strong margins and adjusted earnings per share nearly tripling year-over-year.
Future Outlook: Karman forecasts a 53% revenue growth in 2026, driven by increasing demand for defense technologies, despite concerns about long-term sustainability and market valuation.
Market Sentiment and Analyst Recommendations: Despite recent stock declines, analysts maintain a bullish stance on Karman, with price targets suggesting over 30% upside potential, indicating confidence in the company's growth trajectory.
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- Partnership with Palantir: Ondas is partnered with Palantir, a data analytics company, which may influence investor sentiment despite the stock's recent downturn.
- Wall Street Outlook: Despite the drop in share price, Wall Street analysts indicate a potential for future upside in Ondas' stock performance.
- Market Reaction: The market's reaction to Ondas' stock reflects a mix of optimism and caution, highlighting the volatility in tech-related investments.
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- Stock Market Decline: U.S. stock indexes experienced a decline on Thursday, with significant drops across major indices.
- Index Performance: The S&P 500 fell by 2.38%, the Dow Jones dropped 1.74%, and the Nasdaq decreased by 1.01%.
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Karman Holdings Reports Record Q4 2025 Earnings and Strategic Growth
- Record Performance: Karman Holdings achieved $134 million in revenue for Q4 2025, a 47% increase year-over-year, with gross profit reaching $54 million and a gross margin of 40%, reflecting strong execution across all markets.
- Strategic Acquisitions: The company completed three acquisitions in 2025, including Seemann and MSC, which expand its capabilities in Maritime Defense, expected to enhance overall business strength and drive future growth.
- Positive Outlook: CEO Jonathan Rambeau's 2026 guidance anticipates full-year revenue of $715 million to $730 million and non-GAAP adjusted EBITDA of $207 million to $218 million, representing year-over-year growth of 53% and 46%, respectively.
- Strong Backlog: Karman's backlog reached $801 million by the end of 2025, a 38% year-over-year increase, with enhanced visibility of 80% for future revenue growth due to recent acquisitions.
See More
Karman Reports Record Quarterly Net Income and Revenue Growth
- Record Net Income: Karman reported a quarterly net income of $7.7 million, representing a staggering 358% year-over-year increase, highlighting the company's robust performance in the defense sector and rapid market demand growth.
- Record Backlog Achievement: KRMN achieved a record backlog of $801.1 million during the quarter, up 38.2% compared to the end of Q4 2024, providing strong support for future revenue growth.
- Revenue Guidance Increase: Karman raised its total revenue expectations for FY 2026 to between $715 million and $730 million, with adjusted EBITDA projected between $207 million and $218 million, reflecting the company's confidence in future performance.
- Positive Stock Reaction: Following the report, KRMN shares rose 1.4% during Wednesday's extended trading hours, indicating investor optimism regarding the company's strong financial results.
See More
Karman Sees 14% Drop: A Chance or a Red Flag for This Defense Favorite?
Karman's Stock Performance: Karman (NYSE: KRMN) saw a significant rise in 2025, with shares increasing over 300% from its IPO price of $22, reaching nearly $73, but has since dropped about 25% from its all-time high in January 2026.
Revenue Growth and Margins: The company reported impressive revenue growth of 37% in 2025, totaling $471.5 million, with strong margins and adjusted earnings per share nearly tripling year-over-year.
Future Outlook: Karman forecasts a 53% revenue growth in 2026, driven by increasing demand for defense technologies, despite concerns about long-term sustainability and market valuation.
Market Sentiment and Analyst Recommendations: Despite recent stock declines, analysts maintain a bullish stance on Karman, with price targets suggesting over 30% upside potential, indicating confidence in the company's growth trajectory.
See More
Palantir-Associated Drone Stock Declines, Yet Wall Street Remains Optimistic About Its Future.
- Ondas Stock Performance: Shares of Ondas, a company involved in autonomous drones, experienced a decline on Thursday, erasing earlier gains from the week.
- Partnership with Palantir: Ondas is partnered with Palantir, a data analytics company, which may influence investor sentiment despite the stock's recent downturn.
- Wall Street Outlook: Despite the drop in share price, Wall Street analysts indicate a potential for future upside in Ondas' stock performance.
- Market Reaction: The market's reaction to Ondas' stock reflects a mix of optimism and caution, highlighting the volatility in tech-related investments.
See More
U.S. Markets Declined on Thursday; Karman Holdings Experienced Largest Loss
- Stock Market Decline: U.S. stock indexes experienced a decline on Thursday, with significant drops across major indices.
- Index Performance: The S&P 500 fell by 2.38%, the Dow Jones dropped 1.74%, and the Nasdaq decreased by 1.01%.
See More
Memory Stocks Plummet, Adobe Downgraded
- Memory Stock Decline: Shares of memory chipmakers fell sharply following Google's unveiling of a new AI model, with Sandisk dropping nearly 4% and Micron Technology, Western Digital, and Seagate Technology each declining about 2%, indicating significant memory demand pressures in the industry.
- Mining Stocks Drop: Shares of gold and silver miners fell alongside declining precious metal prices, with First Majestic Silver shedding about 5% and both Coeur Mining and Hecla Mining losing nearly 4%, reflecting a bearish sentiment in the precious metals market.
- Adobe Downgrade: Adobe's stock dipped 1.4% after William Blair downgraded it from outperform to market perform, highlighting uncertainty regarding its position as an AI winner or loser, which may impact investor confidence.
- Navan's Strong Guidance: Travel tech firm Navan soared 18% after guiding for strong revenue in 2027, expecting full-year revenue between $866 million and $874 million, exceeding market expectations, showcasing its robust growth potential in the industry.
See More
Karman Holdings Reports Record Q4 2025 Earnings and Strategic Growth
- Record Performance: Karman Holdings achieved $134 million in revenue for Q4 2025, a 47% increase year-over-year, with gross profit reaching $54 million and a gross margin of 40%, reflecting strong execution across all markets.
- Strategic Acquisitions: The company completed three acquisitions in 2025, including Seemann and MSC, which expand its capabilities in Maritime Defense, expected to enhance overall business strength and drive future growth.
- Positive Outlook: CEO Jonathan Rambeau's 2026 guidance anticipates full-year revenue of $715 million to $730 million and non-GAAP adjusted EBITDA of $207 million to $218 million, representing year-over-year growth of 53% and 46%, respectively.
- Strong Backlog: Karman's backlog reached $801 million by the end of 2025, a 38% year-over-year increase, with enhanced visibility of 80% for future revenue growth due to recent acquisitions.
See More
Karman Reports Record Quarterly Net Income and Revenue Growth
- Record Net Income: Karman reported a quarterly net income of $7.7 million, representing a staggering 358% year-over-year increase, highlighting the company's robust performance in the defense sector and rapid market demand growth.
- Record Backlog Achievement: KRMN achieved a record backlog of $801.1 million during the quarter, up 38.2% compared to the end of Q4 2024, providing strong support for future revenue growth.
- Revenue Guidance Increase: Karman raised its total revenue expectations for FY 2026 to between $715 million and $730 million, with adjusted EBITDA projected between $207 million and $218 million, reflecting the company's confidence in future performance.
- Positive Stock Reaction: Following the report, KRMN shares rose 1.4% during Wednesday's extended trading hours, indicating investor optimism regarding the company's strong financial results.
See More
