SpaceX (NASDAQ:SPCX) Rating Increased to Strong-Buy at Wolfe Research

SpaceX (NASDAQ:SPCX) was upgraded by equities researchers at Wolfe Research to a “strong-buy” rating in a research report issued on Friday, MarketBeat.com reports. The firm presently has a $175.00 price objective on the stock. Wolfe Research’s price objective points to a potential downside of 21.04% from the stock’s current price.

Several other analysts have also commented on SPCX. Cfra assumed coverage on SpaceX in a report on Friday. They issued a “sell” rating and a $115.00 price objective on the stock. Oppenheimer set a $190.00 target price on SpaceX and gave the company an “outperform” rating in a research report on Thursday. New Street Research raised shares of SpaceX to a “strong-buy” rating in a research note on Thursday, June 11th. Finally, KGI Securities initiated coverage on shares of SpaceX in a research report on Thursday. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $161.25.

SpaceX Stock Up 15.1%

Shares of NASDAQ:SPCX traded up $29.13 during trading on Friday, reaching $221.63. The company’s stock had a trading volume of 71,157,059 shares, compared to its average volume of 152,012,406. SpaceX has a 12 month low of $149.34 and a 12 month high of $214.40.

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

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX announced a $60 billion all-stock acquisition of Cursor/Anysphere, expanding its AI software strategy and giving bulls another reason to buy. SpaceX to acquire the AI coding startup Cursor for $60 billion
• Positive Sentiment: Investors are still chasing the stock after the blockbuster IPO, with heavy premarket buying and comparisons to other mega-cap tech leaders supporting the move. SpaceX set to surpass Amazon’s market cap as post-IPO rally continues
• Neutral Sentiment: New articles frame SpaceX as a highly speculative valuation story, with some analysts calling the stock too expensive to chase while others argue the long-term AI and space opportunity is enormous. SpaceX (SPCX) Is Too Expensive to Chase. I’m Sitting This One Out
• Negative Sentiment: Bearish commentary is building around dilution, execution risk, and the possibility that the IPO enthusiasm may fade if growth expectations get too far ahead of profits. 3 Stocks Diluting Shareholders to Fund Big Long-Term Opportunities

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.