SpaceX (NASDAQ:SPCX) Rating Increased to Strong-Buy at Wedbush

SpaceX (NASDAQ:SPCX) was upgraded by stock analysts at Wedbush to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

A number of other equities research analysts have also commented on the company. Morgan Stanley lowered SpaceX to a “negative” rating in a research report on Monday, June 22nd. Wolfe Research started coverage on SpaceX in a report on Friday, June 12th. They issued an “outperform” rating and a $175.00 target price on the stock. TD Cowen started coverage on shares of SpaceX in a research report on Monday, June 22nd. They issued a “buy” rating for the company. New Street Research upgraded shares of SpaceX to a “strong-buy” rating in a report on Thursday, June 11th. Finally, KeyCorp began coverage on shares of SpaceX in a research report on Monday, June 22nd. They set a “sector weight” rating on the stock. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, SpaceX presently has an average rating of “Moderate Buy” and an average price target of $209.43.

SpaceX Stock Down 7.8%

SPCX opened at $157.54 on Tuesday. SpaceX has a 12-month low of $147.11 and a 12-month high of $225.64.

SpaceX (NASDAQ:SPCX) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($1.27) earnings per share for the quarter. The firm had revenue of $4.69 billion during the quarter.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Wedbush initiated coverage with a Buy rating and a $190 price target, with Dan Ives arguing SpaceX is evolving into a broader AI and connectivity platform rather than just a rocket company. Article Title
• Positive Sentiment: Several reports highlighted the upcoming Nasdaq-100 addition, which should create significant mechanical buying from index funds and ETFs, supporting demand for the shares. Article Title
• Positive Sentiment: Analysts also pointed to SpaceX’s multi-business structure, especially Starlink and the company’s expanding AI-related ambitions, as reasons the stock could have more upside over time. Article Title
• Neutral Sentiment: Investor attention is also being driven by a rumored AI phone/device prototype and related xAI integration, but these are still speculative and have not yet translated into confirmed revenue. Article Title
• Neutral Sentiment: Short interest has increased, showing that some traders expect more downside after the IPO, which helps explain the stock’s sharp swings. Article Title
• Negative Sentiment: Multiple articles warned that SpaceX’s valuation is stretched, with some analysts and commentators saying the stock is expensive, hard to value, and vulnerable to volatility after its rapid IPO run-up. Article Title
• Negative Sentiment: Some coverage also emphasized execution risk, high debt, and the fact that SpaceX may not be free-cash-flow positive until 2029, which is weighing on sentiment despite the bullish analyst calls. Article Title

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.