SpaceX (NASDAQ:SPCX) Price Target Raised to $176.00

SpaceX (NASDAQ:SPCX) had its price objective lifted by Susquehanna from $173.00 to $176.00 in a research report report published on Wednesday morning, Marketbeat reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts have also weighed in on SPCX. KeyCorp reissued a “sector weight” rating on shares of SpaceX in a research note on Wednesday. Wolfe Research reiterated an “outperform” rating and set a $175.00 price target on shares of SpaceX in a report on Wednesday, August 26th. TD Cowen boosted their price target on shares of SpaceX from $200.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday. Yorkville Ives initiated coverage on shares of SpaceX in a report on Tuesday, October 6th. They issued an “outperform” rating and a $225.00 price objective for the company. Finally, Piper Sandler cut their price objective on shares of SpaceX from $156.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $244.19.

SpaceX Trading Up 1.9%

NASDAQ:SPCX opened at $147.49 on Wednesday. The stock has a market capitalization of $1.94 trillion and a P/E ratio of -1,638.78. SpaceX has a twelve month low of $104.83 and a twelve month high of $225.64. The stock has a 50-day simple moving average of $149.40. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.25. The business had revenue of $14.57 billion for the quarter. The company’s quarterly revenue was up 161.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.36) earnings per share. On average, analysts expect that SpaceX will post 0.13 earnings per share for the current year.

Insiders Place Their Bets

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of SpaceX stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the completion of the sale, the chief operating officer directly owned 2,472,035 shares in the company, valued at $379,630,414.95. This trade represents a 12.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hedge Funds Weigh In On SpaceX

Several large investors have recently made changes to their positions in the stock. James T. Borello RIA increased its holdings in SpaceX by 41.4% in the 3rd quarter. James T. Borello RIA now owns 246 shares of the company’s stock valued at $37,000 after purchasing an additional 72 shares during the last quarter. Downshift Financial LLC lifted its stake in SpaceX by 25.7% during the third quarter. Downshift Financial LLC now owns 553 shares of the company’s stock worth $83,000 after purchasing an additional 113 shares in the last quarter. Barrett & Company Inc. lifted its stake in SpaceX by 62.5% during the third quarter. Barrett & Company Inc. now owns 325 shares of the company’s stock worth $49,000 after purchasing an additional 125 shares in the last quarter. Trifecta Capital Advisors LLC boosted its position in shares of SpaceX by 112.5% during the third quarter. Trifecta Capital Advisors LLC now owns 238 shares of the company’s stock worth $36,000 after buying an additional 126 shares during the period. Finally, Decision Investments Inc. boosted its position in shares of SpaceX by 10.7% during the third quarter. Decision Investments Inc. now owns 1,443 shares of the company’s stock worth $218,000 after buying an additional 139 shares during the period.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Strong earnings and AI growth supported the rebound. SpaceX reported third-quarter revenue of $14.58 billion, up 161% year over year, and earnings per share of $0.35 versus analysts’ $0.10 estimate. Its AI segment reportedly generated $431 million in net income, helping offset losses in the launch business. Fantastic News for SpaceX Stock Investors
• Positive Sentiment: Analyst sentiment improved sharply. PhilipCapital upgraded SpaceX from “Sell” to “Buy” and raised its price target from $75 to $250. Bank of America also lifted its target to $275, citing stronger growth prospects and Starship milestones. SpaceX Just Scored a Double Upgrade
• Positive Sentiment: Wireless ambitions broaden the growth story. Reports that SpaceX is seeking access to at least 80,000 U.S. cell sites suggest Starlink could evolve into a nationwide wireless carrier, potentially creating a major new revenue stream. The news pressured telecom stocks while benefiting tower owners. SpaceX Seeks Access to 80,000 US Cell Sites
• Neutral Sentiment: A potential Tesla (NASDAQ: TSLA) merger remains speculative. Elon Musk called the combination a “good idea,” but valuation, conflicts of interest, shareholder approval, antitrust review and Tesla’s China operations could delay or prevent a transaction. SpaceX-Tesla Merger Chatter
• Negative Sentiment: Funding and cash-burn concerns remain significant. SpaceX reportedly burned more than $9.9 billion in free cash flow during the quarter and is raising approximately $40 billion of debt at relatively high interest rates to finance AI and other expansion plans. SpaceX $40 Billion Debt Deal
• Negative Sentiment: Execution and reputational risks could limit upside. The launch division was unprofitable because of heavy research spending, while reports of continuing Starlink restrictions in Ukraine could threaten government relationships and future contracts. In addition, upcoming insider share unlocks may increase supply. Ukraine Says Starlink Restrictions Remain

SpaceX Company Profile

Space Exploration Technologies Corp., commonly known as SpaceX, is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles and spacecraft designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX’s principal products and services include the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starlink satellite communications network. Falcon rockets are used to launch satellites, cargo and crew, while Dragon spacecraft support transportation to and from low Earth orbit.