SpaceX (NASDAQ:SPCX) Price Target Raised to $224.00

SpaceX (NASDAQ:SPCX) had its price target increased by TD Cowen from $200.00 to $224.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently commented on SPCX. Wedbush assumed coverage on shares of SpaceX in a research note on Tuesday, June 30th. They set an “outperform” rating and a $190.00 target price for the company. Clear Str upgraded SpaceX to a “strong-buy” rating in a research note on Tuesday, July 7th. Susquehanna lifted their price target on SpaceX from $144.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday, October 7th. Argus raised SpaceX from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a research report on Friday, August 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of SpaceX in a research report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, SpaceX currently has a consensus rating of “Moderate Buy” and an average price target of $244.19.

SpaceX Trading Up 1.9%

Shares of NASDAQ:SPCX opened at $147.49 on Wednesday. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64. The firm has a 50 day moving average price of $149.40. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12. The stock has a market cap of $1.94 trillion and a P/E ratio of -1,638.78.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.25. The firm had revenue of $14.57 billion during the quarter. The company’s quarterly revenue was up 161.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.36) EPS. As a group, equities research analysts expect that SpaceX will post 0.13 EPS for the current year.

Insider Buying and Selling at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the completion of the sale, the chief operating officer owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. The trade was a 12.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Investors Weigh In On SpaceX

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Samalin Investment Counsel LLC purchased a new stake in SpaceX in the third quarter valued at $311,000. Brandywine Oak Private Wealth LLC acquired a new position in SpaceX in the third quarter valued at $216,000. Trueblood Wealth Management LLC acquired a new position in SpaceX in the third quarter valued at $486,000. Valley National Advisers Inc. grew its holdings in shares of SpaceX by 350.3% during the third quarter. Valley National Advisers Inc. now owns 3,296 shares of the company’s stock worth $497,000 after purchasing an additional 2,564 shares during the last quarter. Finally, Meridian Financial Partners LLC purchased a new position in shares of SpaceX during the third quarter worth about $221,000.

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Strong earnings and AI growth supported the rebound. SpaceX reported third-quarter revenue of $14.58 billion, up 161% year over year, and earnings per share of $0.35 versus analysts’ $0.10 estimate. Its AI segment reportedly generated $431 million in net income, helping offset losses in the launch business. Fantastic News for SpaceX Stock Investors
• Positive Sentiment: Analyst sentiment improved sharply. PhilipCapital upgraded SpaceX from “Sell” to “Buy” and raised its price target from $75 to $250. Bank of America also lifted its target to $275, citing stronger growth prospects and Starship milestones. SpaceX Just Scored a Double Upgrade
• Positive Sentiment: Wireless ambitions broaden the growth story. Reports that SpaceX is seeking access to at least 80,000 U.S. cell sites suggest Starlink could evolve into a nationwide wireless carrier, potentially creating a major new revenue stream. The news pressured telecom stocks while benefiting tower owners. SpaceX Seeks Access to 80,000 US Cell Sites
• Neutral Sentiment: A potential Tesla (NASDAQ: TSLA) merger remains speculative. Elon Musk called the combination a “good idea,” but valuation, conflicts of interest, shareholder approval, antitrust review and Tesla’s China operations could delay or prevent a transaction. SpaceX-Tesla Merger Chatter
• Negative Sentiment: Funding and cash-burn concerns remain significant. SpaceX reportedly burned more than $9.9 billion in free cash flow during the quarter and is raising approximately $40 billion of debt at relatively high interest rates to finance AI and other expansion plans. SpaceX $40 Billion Debt Deal
• Negative Sentiment: Execution and reputational risks could limit upside. The launch division was unprofitable because of heavy research spending, while reports of continuing Starlink restrictions in Ukraine could threaten government relationships and future contracts. In addition, upcoming insider share unlocks may increase supply. Ukraine Says Starlink Restrictions Remain

SpaceX Company Profile

Space Exploration Technologies Corp., commonly known as SpaceX, is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles and spacecraft designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX’s principal products and services include the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starlink satellite communications network. Falcon rockets are used to launch satellites, cargo and crew, while Dragon spacecraft support transportation to and from low Earth orbit.