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    AST SpaceMobile (ASTS) Completes TELUS Integration Test, Is It 76% Below Fair Value?

    Simply Wall St·10/19/2026 05:36:15
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    AST SpaceMobile (ASTS) moved into focus after announcing a successful first integration test with TELUS, linking its satellite network to TELUS infrastructure to support voice, text, and broadband connectivity directly between smartphones and space.

    The TELUS breakthrough landed during a rough patch for AST SpaceMobile’s stock, with the share price down 8.55% over the last day and 20.99% over the past week. This has contributed to a 51.29% year-to-date share price decline that sits alongside a very large 3-year total shareholder return, suggesting sentiment has cooled recently even after a powerful earlier run.

    Scan beyond AST SpaceMobile and this TELUS deal by comparing it with hand-picked satellite and connectivity plays using our 42 power grid technology and infrastructure stocks

    AST SpaceMobile now trades at a steep discount to both analyst targets and one estimate of fair value after this sharp slide. Is that gap compensating you for the risks, or is it simply flagging trouble that the market sees first?

    Most Popular Narrative: 76% Undervalued

    According to the most followed narrative on AST SpaceMobile, a fair value of $170 sits far above the last close at $40.66, which frames the recent selloff as a valuation gap rather than just a loss of confidence.

    The bull case is that AST is transitioning from technology demonstration to commercial rollout. The company reported Q1 2026 revenue of $14.7 million, reiterated 2026 revenue guidance of $150 to $200 million, and expects revenue to build sequentially through the year from gateway sales, government work, consulting, and potentially initial commercial service revenue.

    See why 95 investors see AST SpaceMobile as 76% undervalued.

    Result: Fair Value of $170 (UNDERVALUED)

    Still, the AST SpaceMobile story can break if satellite deployment slips or if major carrier partners hesitate to convert trials into meaningful commercial traffic.

    Find out about the key risks to this AST SpaceMobile narrative.

    Another View: AST SpaceMobile Through A P/B Lens

    There is a very different message coming from the simple P/B check. AST SpaceMobile trades on a 6.4x P/B multiple, which is expensive against the broader US Telecom group at 1.7x, yet looks cheaper than a peer average closer to 13x. That gap points to a wide range of possible outcomes rather than a clear bargain or red flag. Which side of that spread do you think the market eventually leans toward?

    For a deeper look at how this valuation ratio could shift over time and what that might mean in practice for AST SpaceMobile, See what the numbers say about this price — find out in our valuation breakdown.

    NasdaqGS:ASTS P/B Ratio as at Oct 2026
    NasdaqGS:ASTS P/B Ratio as at Oct 2026

    Next Steps

    Mixed signals across AST SpaceMobile can feel exciting and uneasy at the same time, so move fast on your homework and weigh both sides using our 2 key rewards and 1 important warning sign

    Looking for more investment ideas beyond AST SpaceMobile?

    Do not stop with AST SpaceMobile. Use the Simply Wall St Screener to line up fresh ideas and keep your watchlist working harder than the average investor.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.