SpaceX (NASDAQ:SPCX) Given Outperform Rating at Royal Bank Of Canada

SpaceX (NASDAQ:SPCX)‘s stock had its “outperform” rating reiterated by investment analysts at Royal Bank Of Canada in a report issued on Monday,Benzinga reports. They presently have a $225.00 target price on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 101.12% from the stock’s previous close.

A number of other research analysts have also issued reports on the company. Wedbush assumed coverage on SpaceX in a research report on Tuesday, June 30th. They set an “outperform” rating and a $190.00 target price on the stock. Evercore started coverage on SpaceX in a research report on Tuesday, July 14th. They issued an “outperform” rating and a $230.00 target price on the stock. Wells Fargo & Company initiated coverage on SpaceX in a research report on Tuesday, July 7th. They set an “overweight” rating and a $230.00 price target for the company. Cfra assumed coverage on shares of SpaceX in a research note on Friday, June 12th. They set a “sell” rating and a $115.00 target price on the stock. Finally, Zacks Research raised shares of SpaceX to a “hold” rating in a report on Monday, June 15th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, SpaceX currently has an average rating of “Moderate Buy” and a consensus target price of $230.50.

SpaceX Stock Up 3.2%

Shares of SpaceX stock traded up $3.51 on Monday, reaching $111.88. 22,353,907 shares of the stock were exchanged, compared to its average volume of 100,413,992. SpaceX has a twelve month low of $104.83 and a twelve month high of $225.64.

SpaceX (NASDAQ:SPCX) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.27) EPS for the quarter. The firm had revenue of $4.69 billion for the quarter.

Institutional Trading of SpaceX

Hedge funds have recently made changes to their positions in the company. Hyperion Asset Management Ltd purchased a new position in SpaceX in the second quarter worth approximately $201,137,000. Tema ETFs LLC purchased a new position in shares of SpaceX during the 2nd quarter worth $32,037,000. Teamwork Financial Advisors LLC acquired a new stake in shares of SpaceX during the 2nd quarter worth about $8,027,000. Heck Capital Advisors LLC purchased a new stake in SpaceX in the 2nd quarter valued at about $3,768,000. Finally, Dynamic Advisor Solutions LLC acquired a new position in SpaceX in the second quarter valued at about $3,383,000.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Some analysts believe investors are focusing too heavily on governance concerns and missing SpaceX’s long-term growth potential. Bullish forecasts point to a possible rise toward $128, supported by Starlink expansion, reusable rockets and growing launch demand. Jeffries says investors are missing the bigger picture
• Positive Sentiment: Investor Cathie Wood is buying the decline, citing the potential for reusable rockets and Starlink’s satellite broadband network to produce substantial long-term profits. Cathie Wood is buying SpaceX stock
• Positive Sentiment: A recent Falcon 9 launch deployed 24 Starlink satellites, highlighting continued execution and network expansion. SpaceX is also planning a potential launch facility in coastal Louisiana, which could expand future capacity. SpaceX launches 24 Starlink satellites
• Neutral Sentiment: Tuesday’s earnings will provide the first public look at revenue, margins, cash flow and guidance. Investors are particularly focused on whether Starlink profits can fund rapidly increasing spending on artificial intelligence, Starship and other space ventures. SpaceX results put AI spending under scrutiny
• Neutral Sentiment: SpaceX’s addition to the Nasdaq-100 may support visibility and index-related demand, although its current weighting is relatively small. SpaceX joins the Nasdaq-100
• Negative Sentiment: Bearish sentiment is intensifying: short sellers reportedly have built a $24.6 billion position, while a highly ranked analyst recommends selling SPCX ahead of earnings. Short sellers build a large SpaceX position
• Negative Sentiment: Investors continue to question Elon Musk’s control, related-party decisions and SpaceX’s governance structure. Concerns could weigh on the valuation if management does not address them during the earnings call. Investors question SpaceX governance
• Negative Sentiment: A potential insider lockup expiration on August 6 could add share supply and create further selling pressure immediately after the earnings report. SpaceX’s high valuation also leaves limited room for disappointing growth or profitability guidance. Numbers that will define SpaceX valuation

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.