SpaceX (NASDAQ:SPCX) Given Buy Rating at TD Cowen

SpaceX (NASDAQ:SPCX)‘s stock had its “buy” rating restated by analysts at TD Cowen in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $200.00 price target on the stock. TD Cowen’s target price points to a potential upside of 23.86% from the company’s current price.

SPCX has been the topic of several other reports. Argus raised SpaceX from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a report on Friday, August 7th. Susquehanna lifted their target price on SpaceX from $144.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday. UBS Group reaffirmed a “buy” rating on shares of SpaceX in a report on Tuesday, September 29th. Wells Fargo & Company reduced their target price on SpaceX from $215.00 to $212.00 and set an “overweight” rating on the stock in a report on Tuesday, September 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of SpaceX in a report on Wednesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, nine have assigned a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $219.77.

SpaceX Trading Up 0.6%

NASDAQ SPCX traded up $0.90 on Friday, hitting $161.47. 29,112,275 shares of the company traded hands, compared to its average volume of 101,567,547. The firm has a market cap of $2.13 trillion and a P/E ratio of -1,804.54. The company has a quick ratio of 4.99, a current ratio of 5.12 and a debt-to-equity ratio of 0.29. The business has a 50 day simple moving average of $143.95. SpaceX has a 52-week low of $104.83 and a 52-week high of $225.64.

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

Insiders Place Their Bets

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the company’s stock in a transaction on 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 completion of the sale, the chief operating officer owned 2,472,035 shares in the company, valued at $379,630,414.95. This 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.

Hedge Funds Weigh In On SpaceX

A number of large investors have recently made changes to their positions in SPCX. Syntax Research Inc. acquired a new position in shares of SpaceX during the second quarter worth $26,000. Atwood & Palmer Inc. acquired a new position in shares of SpaceX in the 2nd quarter valued at $29,000. PayPay Securities Corp acquired a new position in shares of SpaceX in the 2nd quarter valued at $30,000. Hickory Point Bank & Trust acquired a new position in shares of SpaceX in the 3rd quarter valued at $30,000. Finally, Marquette Asset Management LLC acquired a new position in shares of SpaceX in the 2nd quarter valued at $32,000.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Nationwide spectrum acquisition: SpaceX agreed to acquire Grain Management’s nationwide portfolio of 800 MHz, low-band spectrum licenses. The deal could improve indoor and urban coverage for Starlink Mobile and support direct-to-device connectivity, while positioning SpaceX to compete more directly with AT&T, Verizon and T-Mobile. The transaction remains subject to final FCC approval. US, European telecom stocks slide as SpaceX spectrum deal rattles sector
• Positive Sentiment: Regulatory and analyst support: The FCC approved SpaceX’s plan for as many as 15,000 additional Starlink satellites for mobile and direct-to-device services. Barclays initiated coverage with a Buy rating and a $254 price target, while J.P. Morgan and other analysts also maintained bullish views. Dan Ives added SpaceX to his AI-focused “AI 30” list. Two Reasons SpaceX Stock Is Jumping Higher Today
• Positive Sentiment: AI growth narrative: Reports that SpaceX may raise roughly $40 billion to purchase Nvidia chips and expand AI data-center capacity are reinforcing expectations that Starlink cash flow and contracted compute demand could become major growth engines. The potential financing also has attracted interest from Apollo and other institutional investors. Apollo, banks in talks to finance SpaceX’s $40 billion Nvidia GPU purchase
• Neutral Sentiment: Additional developments: American Airlines plans to install Starlink on more than 1,000 aircraft, and SpaceX successfully completed NASA’s Crew-12 mission. However, Starlink’s launch in India remains delayed amid regulatory and competitive disputes. American Airlines to add Starlink internet to more than 1,000 planes
• Negative Sentiment: Share supply and financing risks: Up to roughly 319 million insider shares became eligible for sale, potentially increasing selling pressure. Separately, the proposed AI-chip debt would materially increase leverage and has raised concerns about execution, credit risk and whether the investment can generate sufficient returns. ARK Invest also sold approximately $4.7 million of SpaceX shares. SpaceX insider share unlock

About SpaceX

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

SpaceX’s primary products and services include the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft and the Starlink satellite internet network. The company also is developing Starship, a fully reusable launch and spacecraft system intended for missions to Earth orbit, the Moon and Mars.