SpaceX (NASDAQ:SPCX) Earns Sell Rating from Analysts at DZ Bank

DZ Bank assumed coverage on shares of SpaceX (NASDAQ:SPCX) in a research report sent to investors on Friday, MarketBeat Ratings reports. The brokerage issued a sell rating and a $100.00 price target on the stock.

Several other research analysts also recently weighed in on SPCX. Wells Fargo & Company dropped their target price on shares of SpaceX from $230.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. Benchmark initiated coverage on shares of SpaceX in a research note on Monday, June 22nd. They issued a “buy” rating for the company. KGI Securities cut shares of SpaceX from an “outperform” rating to a “hold” rating in a research report on Monday, June 22nd. UBS Group reissued a “buy” rating and set a $75.00 target price (down from $210.00) on shares of SpaceX in a research note on Monday, August 17th. Finally, Wall Street Zen raised SpaceX from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have issued a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat.com, SpaceX currently has an average rating of “Moderate Buy” and an average price target of $220.20.

SpaceX Price Performance

Shares of NASDAQ SPCX opened at $136.97 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12. SpaceX has a 12 month low of $104.83 and a 12 month high of $225.64. The stock has a market capitalization of $1.79 trillion and a P/E ratio of -1,521.89. The company’s fifty day moving average is $142.32.

SpaceX (NASDAQ:SPCX) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.17. The company had revenue of $7.81 billion during the quarter. The business’s revenue was up 91.9% on a year-over-year basis. As a group, sell-side analysts expect that SpaceX will post -0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On SpaceX

A number of institutional investors have recently modified their holdings of SPCX. Hyperion Asset Management Ltd acquired a new position in shares of SpaceX in the second quarter worth $201,137,000. Bond Capital Management LP purchased a new stake in shares of SpaceX during the second quarter worth $180,620,000. Value Aligned Research Advisors LLC acquired a new stake in SpaceX during the second quarter valued at $100,760,000. Tema ETFs LLC purchased a new position in SpaceX in the second quarter valued at about $32,037,000. Finally, Montanova Capital LLC purchased a new position in SpaceX in the second quarter valued at about $17,291,000.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX successfully launched 29 Starlink satellites and landed the Falcon 9 booster on a drone ship. The mission pushed Starlink toward—and according to Elon Musk, beyond—11,000 satellites in orbit, reinforcing the company’s launch cadence and satellite-internet expansion. SpaceX launches 29 Starlink satellites
• Positive Sentiment: Federal policy targeting 1,000 launches annually by 2030 could create a favorable regulatory and contracting environment for SpaceX. Musk has also outlined an extremely ambitious Starship goal of roughly 10,000 launches per year, highlighting the company’s long-term growth opportunity. Elon Musk on Starship launch targets
• Positive Sentiment: William Blair reiterated a Buy rating, citing SpaceX’s lead in reusable rockets and potential growth from AI-related revenue. A proposed $16.8 billion chip-factory venture with Tesla could also support SpaceX’s computing and AI ambitions. William Blair reiterates Buy

About SpaceX

SpaceX, or Space Exploration Technologies Corp., is an American aerospace company focused on the design, manufacture and launch of advanced rockets and spacecraft. The company develops launch vehicles and space systems used for commercial, government and scientific missions, with a strong emphasis on lowering the cost of access to space through reusable rocket technology.

Founded in 2002 by Elon Musk, SpaceX has built a broad portfolio of products and services that includes the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starship development program.