SpaceX (NASDAQ:SPCX) Upgraded at Barclays

SpaceX (NASDAQ:SPCX) was upgraded by Barclays to a “strong-buy” rating in a research report issued to clients and investors on Friday, Zacks reports.

Several other research analysts also recently weighed in on SPCX. Piper Sandler dropped their target price on shares of SpaceX from $156.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 5th. Guggenheim began coverage on shares of SpaceX in a research note on Friday, August 7th. They issued a “buy” rating for the company. Mizuho initiated coverage on shares of SpaceX in a research report on Tuesday, July 7th. They set an “outperform” rating and a $200.00 price objective on the stock. TD Cowen reissued a “buy” rating and set a $200.00 target price on shares of SpaceX in a research note on Friday. Finally, Wells Fargo & Company reduced their target price on SpaceX from $215.00 to $212.00 and set an “overweight” rating for the company in a report on Tuesday, September 8th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $219.77.

SpaceX Stock Up 1.2%

Shares of SpaceX stock opened at $162.57 on Friday. SpaceX has a 12-month low of $104.83 and a 12-month high of $225.64. The firm has a market capitalization of $2.14 trillion and a price-to-earnings ratio of -1,806.33. The company has a quick ratio of 4.99, a current ratio of 5.12 and a debt-to-equity ratio of 0.29. The stock’s fifty day moving average is $145.03.

SpaceX (NASDAQ:SPCX) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.17. The company had revenue of $7.81 billion during the quarter. SpaceX’s revenue for the quarter was up 91.9% on a year-over-year basis. Analysts expect that SpaceX will post 0.09 EPS for the current year.

Insider Activity at SpaceX

In related 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 transaction, the chief operating officer directly owned 2,472,035 shares of the company’s stock, valued at approximately $379,630,414.95. The trade was a 12.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Investors Weigh In On SpaceX

A number of institutional investors have recently modified their holdings of the stock. Integrated Financial Solutions Inc. increased its stake in shares of SpaceX by 84.6% in the third quarter. Integrated Financial Solutions Inc. now owns 3,230 shares of the company’s stock worth $487,000 after acquiring an additional 1,480 shares during the last quarter. Gallagher Capital Advisors LLC boosted its position in SpaceX by 2,015.6% during the third quarter. Gallagher Capital Advisors LLC now owns 34,823 shares of the company’s stock valued at $5,253,000 after purchasing an additional 33,177 shares during the last quarter. Armstrong Advisory Group Inc. boosted its position in SpaceX by 50.4% during the third quarter. Armstrong Advisory Group Inc. now owns 1,698 shares of the company’s stock valued at $256,000 after purchasing an additional 569 shares during the last quarter. jvl associates llc purchased a new position in SpaceX in the third quarter valued at about $321,000. Finally, Friday Financial acquired a new position in SpaceX in the 3rd quarter worth about $324,000.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: The spectrum purchase—reported at roughly $8 billion by some outlets, although the exact price was not disclosed—could give Starlink Mobile stronger coverage indoors and in dense urban areas where satellites are less effective. The deal also positions SpaceX to compete more directly with AT&T, Verizon and T-Mobile. SpaceX’s low-band spectrum deal gives Starlink Mobile a terrestrial foothold
• Positive Sentiment: Analyst support added to the bullish reaction. Barclays initiated coverage with a Buy rating and a $254 target, while TD Cowen reaffirmed Buy with a $200 target; other analysts highlighted the hybrid satellite-and-terrestrial network strategy. Two Reasons SpaceX Stock Is Jumping Higher Today
• Positive Sentiment: The FCC’s approval of up to 15,000 next-generation Starlink satellites strengthens the company’s long-term direct-to-device opportunity. Investors are also valuing SpaceX’s reported AI-computing demand and potential Nvidia chip purchases as additional growth engines. SpaceX Gets Green Light for 15,000 Starlink Satellites
• Neutral Sentiment: The spectrum transaction remains subject to final FCC approval, and SpaceX still must invest heavily to build a terrestrial network, integrate services and attract wireless customers. The launch of Blue Origin as a future public-company competitor may also increase attention on the space sector. SpaceX Makes Big Play to Become a Wireless Carrier
• Negative Sentiment: Up to approximately $51 billion of insider shares became eligible for sale, creating a potential supply overhang and volatility risk after the recent rally. SpaceX Insider Shares Unlock
• Negative Sentiment: Reports that SpaceX may borrow $40 billion to purchase Nvidia chips continue to raise concerns about leverage, execution and the risk of spending aggressively on an unproven AI infrastructure business despite its substantial cash holdings. SpaceX in Talks to Raise $40 Billion in Loans

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.