Ondas Stock Heads For Monthly Gain: Why This Analyst Still Sees 150% Upside?

• Analyst Jon Hickman raised Ondas' price target to $22.75, implying a 152% upside.
• Last week, Oppenheimer also increased the price target to $18, citing record Q2 revenue.
• Ondas raised its 2026 revenue forecast to $525 million to $550 million.

Ondas (ONDS) stock is headed for a monthly gain as fresh price-target hikes from Wall Street following a record second-quarter revenue and a new White House tariff push on foreign drones give bulls fresh ammunition to argue the rally in the mid-cap drone and wireless-networking name still has room to run. 

Wall Street Turns More Bullish On Ondas 

Ladenburg Thalmann analyst Jon Hickman lifted his price target for Ondas to $22.75 from $21.50 while maintaining a ‘Buy’ rating, implying a 152% upside to the stock’s last closing price. 

Hickman's revision followed Ondas' strong revenue performance. The company generated $83.8 million in Q2 revenue, a 67% jump from the previous quarter and a 13-fold increase from last year, beating the analysts' consensus estimate of $63 million, according to Fiscal Ai data.  

Ondas raised its full-year 2026 revenue outlook to $525 million to $550 million, representing more than 10 times its 2025 revenue. 

Last week, Oppenheimer analyst Timothy Horan also increased the price target on Ondas to $18 from $16 while retaining an Outperform rating. Ondas stock traded 2% lower overnight, ahead of Tuesday. 

Ondas Drones Become A Bigger Focus

Ondas has expanded beyond its original wireless-networking business through acquisitions and new operations involving autonomous drones, counter-drone technology and infrastructure inspection. Its domestic production of Optimus and Scout systems could become increasingly important as U.S. policymakers seek to reduce reliance on foreign-made drone equipment.

The Trump administration's push for tariffs on imported drones and related components could further advantage U.S.-based manufacturers. Ondas is also developing its defense business and recently strengthened its infrastructure-inspection capabilities by acquiring Cyberhawk.

Ondas Stock Has A Massive Short Interest Overhang 

However, Ondas is among the most heavily shorted stocks in the defense and autonomous technology space, with short interest at roughly 41% of its tradable shares, according to Koyfin data. 

Bears remain concerned about the company’s spending, cash use, and possible share dilution from acquisitions. 

ONDS Stock: Retail View 

On Stocktwits, retail sentiment around the stock 

A user said, “Don't get panic. Not sure why people worry about getting diluted, its part of business. I would buy with this little dip. They had great quarter and I feel target price 16-19 is reasonable.”

Another user said, “Something extremely bullish I’ve been thinking about 

What if ONDS made an ALL-CASH, ZERO-DILUTION accretive acquisition?

FPF Defense is a company I’d watch. A $50–75M all-cash deal could be very affordable for Ondas and, most importantly, wouldn’t require issuing any ONDS shares.”

ONDS stock has declined nearly 8% year-to-date. 

Also See: BB Stock In Focus: Retail Traders Are Watching These Four Catalysts For BlackBerry's Upside

For updates and corrections, email newsroom[at]stocktwits[dot]com.