SpaceX (NASDAQ:SPCX) Stock Rating Reaffirmed as “Buy” by TD Cowen

SpaceX (NASDAQ:SPCX)‘s stock had its “buy” rating reaffirmed by TD Cowen in a note issued to investors on Friday, Benzinga reports. They currently have a $200.00 price objective on the stock. TD Cowen’s price target would indicate a potential upside of 22.30% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. Evercore initiated coverage on SpaceX in a research report on Tuesday, July 14th. They issued an “outperform” rating and a $230.00 price target on the stock. Clear Str upgraded SpaceX to a “strong-buy” rating in a research report on Tuesday, July 7th. Barclays initiated coverage on SpaceX in a research report on Thursday. They issued an “overweight” rating and a $254.00 price target on the stock. Wolfe Research reiterated an “outperform” rating and issued a $175.00 price target on shares of SpaceX in a research report on Wednesday, August 26th. Finally, Canaccord Genuity Group initiated coverage on SpaceX in a research report on Tuesday, July 7th. They issued a “buy” rating and a $246.00 price target on the stock. Two equities research 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 stock has an average rating of “Moderate Buy” and a consensus target price of $219.77.

SpaceX Price Performance

Shares of NASDAQ SPCX traded up $2.96 during trading hours on Friday, reaching $163.53. The stock had a trading volume of 36,714,223 shares, compared to its average volume of 101,632,531. The stock has a fifty day moving average price of $143.95. 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 company has a market capitalization of $2.16 trillion and a P/E ratio of -1,822.56. SpaceX has a twelve month low of $104.83 and a twelve month high of $225.64.

SpaceX (NASDAQ:SPCX) last issued its earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.17. The firm had revenue of $7.81 billion during the quarter. SpaceX’s revenue for the quarter was up 91.9% compared to the same quarter last year. Sell-side analysts forecast that SpaceX will post 0.09 earnings per share for the current fiscal year.

Insider Activity at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of the 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 sale, the chief operating officer owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. This represents a 12.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hedge Funds Weigh In On SpaceX

Several hedge funds have recently added to or reduced their stakes in the company. Decision Investments Inc. boosted its holdings in SpaceX by 10.7% in the third quarter. Decision Investments Inc. now owns 1,443 shares of the company’s stock valued at $218,000 after acquiring an additional 139 shares during the last quarter. Syntax Research Inc. acquired a new position in SpaceX in the second quarter valued at about $26,000. Atwood & Palmer Inc. acquired a new position in SpaceX in the second quarter valued at about $29,000. PayPay Securities Corp acquired a new position in SpaceX in the second quarter valued at about $30,000. Finally, Dominguez Wealth Management Solutions Inc. lifted its stake in SpaceX by 8.2% in the third quarter. Dominguez Wealth Management Solutions Inc. now owns 2,390 shares of the company’s stock valued at $361,000 after buying an additional 182 shares during the period.

Key Headlines Impacting 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

SpaceX Company Profile

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.