SpaceX (NASDAQ:SPCX) Price Target Raised to $500.00

SpaceX (NASDAQ:SPCX) had its price objective boosted by JPMorgan Chase & Co. from $240.00 to $500.00 in a research note issued to investors on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities research analysts have also issued reports about the company. Stifel Nicolaus started coverage on SpaceX in a research report on Tuesday, July 7th. They set a “buy” rating and a $190.00 price objective for the company. Wells Fargo & Company upped their target price on SpaceX from $214.00 to $274.00 and gave the company an “overweight” rating in a report on Wednesday. Mizuho set a $205.00 price target on shares of SpaceX in a research report on Wednesday. TD Cowen raised their price target on shares of SpaceX from $200.00 to $224.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wall Street Zen cut shares of SpaceX from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, SpaceX has an average rating of “Moderate Buy” and a consensus target price of $244.19.

SpaceX Stock Performance

Shares of NASDAQ:SPCX opened at $147.49 on Wednesday. The company has a 50 day moving average price of $149.40. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29. The stock has a market cap of $1.94 trillion and a P/E ratio of -1,638.78.

SpaceX (NASDAQ:SPCX) last posted its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.25. The firm had revenue of $14.57 billion for the quarter. During the same quarter last year, the firm posted ($0.36) EPS. The business’s quarterly revenue was up 161.4% on a year-over-year basis. On average, equities analysts predict that SpaceX will post 0.13 earnings per share for the current year.

Insider Buying and Selling

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the transaction, 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 transaction was disclosed in a 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.

Institutional Trading of SpaceX

Large investors have recently made changes to their positions in the stock. Viking Fund Management LLC bought a new position in shares of SpaceX during the 3rd quarter worth about $1,358,000. Diversify Advisory Services LLC lifted its stake in shares of SpaceX by 34.0% in the third quarter. Diversify Advisory Services LLC now owns 48,477 shares of the company’s stock valued at $7,205,000 after buying an additional 12,292 shares during the period. Wedbush Securities Inc. bought a new stake in shares of SpaceX in the second quarter valued at about $5,094,000. Avior Wealth Management LLC acquired a new stake in SpaceX during the third quarter worth about $2,934,000. Finally, Apella Capital LLC grew its position in SpaceX by 218.2% during the third quarter. Apella Capital LLC now owns 8,424 shares of the company’s stock worth $1,412,000 after buying an additional 5,777 shares in the last quarter.

More 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.