SpaceX (NASDAQ:SPCX) Shares Up 2.6% – Still a Buy?

SpaceX (NASDAQ:SPCX)’s stock price traded up 2.6% during mid-day trading on Tuesday. The stock traded as high as $150.06 and last traded at $149.24. 79,598,598 shares were traded during mid-day trading, a decline of 23% from the average session volume of 103,328,797 shares. The stock had previously closed at $145.47.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Starship reached orbit for the first time and deployed 26 next-generation Starlink satellites. Although the vehicle was lost during reentry, the operational payload demonstrated progress toward expanding Starlink capacity and lowering the network’s cost per unit of data. SpaceX reached orbit and deployed satellites
• Positive Sentiment: Analysts issued or reiterated bullish ratings following the flight. TD Cowen began coverage with a Buy rating and a $200 price target, while UBS maintained its Buy rating and cited a $210 target, supporting investor confidence in further upside. TD Cowen initiates coverage
• Positive Sentiment: UBS expects third-quarter revenue of $13.8 billion, 7% above consensus, with AI, Starlink connectivity, and launch services contributing to growth. The broker also forecasts adjusted EBITDA of $7.5 billion, above the $6.9 billion consensus estimate. UBS raises SpaceX revenue forecast
• Positive Sentiment: Investors are increasingly valuing SpaceX as an AI-compute and data-center provider, not merely a launch company. TD Cowen identified AI compute leasing as a potential main revenue driver, while reports tied to Anthropic’s IPO prospectus indicate potentially substantial future compute agreements involving SpaceX. TD Cowen on SpaceX AI compute
• Neutral Sentiment: SpaceX’s latest quarterly results showed revenue of $7.81 billion, up 91.9% year over year, and an adjusted loss of $0.09 per share that beat expectations. However, the company remains unprofitable and trades at an exceptionally demanding valuation, making future growth assumptions critical.
• Negative Sentiment: Starship’s engine shutdown, shortened mission, and destruction during splashdown underscore that reusable, high-frequency commercial flights are not yet routine. The stock also faces selling pressure and volatility from executive share sales, including a reported $52 million sale by President Gwynne Shotwell. Starship Flight 14 investor analysis

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Evercore assumed coverage on SpaceX in a research note on Tuesday, July 14th. They set an “outperform” rating and a $230.00 target price for the company. Seaport Research Partners lowered SpaceX from a “buy” rating to a “neutral” rating in a report on Friday, August 7th. Benchmark started coverage on SpaceX in a research report on Monday, June 22nd. They issued a “buy” rating for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $246.00 price objective on shares of SpaceX in a research note on Wednesday, August 5th. Finally, Phillip Securities raised shares of SpaceX to a “strong sell” rating and set a $75.00 target price on the stock in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, seven have given a Hold rating and seven have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $218.68.

SpaceX Stock Up 2.6%

The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. The stock has a market capitalization of $1.97 trillion and a price-to-earnings ratio of -1,658.22. The business has a 50-day moving average price of $136.92.

SpaceX (NASDAQ:SPCX) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.17. The firm had revenue of $7.81 billion during the quarter. The firm’s revenue was up 91.9% on a year-over-year basis. Equities analysts predict that SpaceX will post -0.15 EPS for the current fiscal year.

Insider Buying and Selling at SpaceX

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

Institutional Trading of SpaceX

A number of large investors have recently bought and sold shares of SPCX. QRG Capital Management Inc. bought a new position in shares of SpaceX during the second quarter valued at $8,632,000. Envestnet Portfolio Solutions Inc. bought a new position in SpaceX during the 2nd quarter valued at about $1,274,000. State Street Corp acquired a new position in SpaceX in the second quarter valued at about $1,858,329,000. Security National Bank of SO Dak bought a new stake in SpaceX during the second quarter worth about $48,000. Finally, HBK Investments L P bought a new position in shares of SpaceX in the second quarter valued at approximately $40,579,000.

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.