SpaceX (NASDAQ:SPCX) Stock Price Up 5.7% on Analyst Upgrade

SpaceX (NASDAQ:SPCX) was up 5.7% during mid-day trading on Monday after Phillip Securities upgraded the stock to a strong sell rating. The company traded as high as $114.92 and last traded at $114.53. Approximately 68,996,720 shares changed hands during trading, a decline of 32% from the average daily volume of 101,795,906 shares. The stock had previously closed at $108.37.

A number of other research firms also recently weighed in on SPCX. KeyCorp reaffirmed a “sector weight” rating on shares of SpaceX in a research report on Tuesday, July 28th. Zacks Research upgraded shares of SpaceX to a “hold” rating in a report on Monday, June 15th. Susquehanna began coverage on shares of SpaceX in a research report on Tuesday, June 23rd. They issued a “neutral” rating and a $170.00 price objective on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of SpaceX in a report on Tuesday, July 7th. They set a “buy” rating and a $255.00 target price for the company. Finally, New Street Research raised shares of SpaceX to a “strong-buy” rating in a research report on Thursday, June 11th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, SpaceX presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.39.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX reported second-quarter revenue of $7.81 billion, up 91.9% year over year and ahead of analyst expectations. Its adjusted EPS loss of $0.09 also beat the expected $0.26 loss. Starlink remained the primary earnings driver, while AI-cloud contracts with customers including Anthropic and Google supported growth. Reuters earnings report
• Positive Sentiment: Management outlined aggressive long-term targets, including a $100 billion annualized revenue run rate by December and $1 trillion in annual revenue by 2030. SpaceX also expects Starlink expansion and AI-compute demand to accelerate. SpaceX revenue targets
• Positive Sentiment: Several analysts remained bullish despite the selloff. Bank of America maintained a Buy rating and $235 target, while Needham and Cantor Fitzgerald reiterated Buy or Overweight ratings with targets near $250. Analyst reaction
• Positive Sentiment: A $1.6 billion Pentagon contract and plans to expand Starlink Mobile into broader wireless services could add substantial future revenue and challenge traditional carriers. Pentagon contract
• Neutral Sentiment: Elon Musk said SpaceX will use Nvidia chips exclusively for its AI buildout. The decision benefits Nvidia but underscores how dependent SpaceX’s expansion is on continued investment in expensive computing infrastructure. Nvidia endorsement
• Negative Sentiment: Capital expenditures surged to approximately $18.4 billion, including about $15.8 billion for AI infrastructure. The scale of spending, combined with widening losses in AI and space operations and concerns about substantial cash burn, overshadowed the revenue and earnings beats. AI spending concerns
• Negative Sentiment: As many as 912 million employee and pre-IPO shares become eligible for sale on August 6. The potential increase in the public float is creating supply concerns and could add volatility. SpaceX lockup expiry
• Negative Sentiment: SpaceX also disclosed an unrealized $540 million loss on its Bitcoin holdings, adding to investor concerns about cash deployment and financial volatility. Bitcoin loss

Hedge Funds Weigh In On SpaceX

Hedge funds and other institutional investors have recently made changes to their positions in the company. KERR FINANCIAL PLANNING Corp acquired a new position in SpaceX during the second quarter worth $566,000. Burkett Financial Services LLC acquired a new stake in SpaceX in the second quarter valued at $70,000. Dogwood Wealth Management LLC acquired a new stake in SpaceX in the second quarter valued at $139,000. Dynamic Advisor Solutions LLC bought a new position in shares of SpaceX in the 2nd quarter valued at about $3,383,000. Finally, Apella Capital LLC acquired a new position in shares of SpaceX during the 2nd quarter worth about $452,000.

SpaceX Price Performance

SpaceX (NASDAQ:SPCX) last issued its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (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. SpaceX’s quarterly revenue was up 91.9% compared to the same quarter last year.

SpaceX Company Profile

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.