Wall Street Zen Upgrades SpaceX (NASDAQ:SPCX) to Hold

SpaceX (NASDAQ:SPCX) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

SPCX has been the topic of a number of other research reports. Guggenheim began coverage on shares of SpaceX in a research report on Friday, August 7th. They issued a “buy” rating on the stock. Cantor Fitzgerald increased their target price on shares of SpaceX from $246.00 to $345.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 20th. Wedbush started coverage on shares of SpaceX in a research report on Tuesday, June 30th. They set an “outperform” rating and a $190.00 price target for the company. Stifel Nicolaus began coverage on shares of SpaceX in a research note on Tuesday, July 7th. They issued a “buy” rating and a $190.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of SpaceX from $240.00 to $500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 21st. Four research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $244.19.

SpaceX Price Performance

Shares of SpaceX stock opened at $147.49 on Friday. The firm has a market cap of $1.94 trillion and a price-to-earnings ratio of -1,638.78. The company has a current ratio of 3.08, a quick ratio of 3.00 and a debt-to-equity ratio of 0.20. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64. The company has a fifty day simple moving average of $149.40.

SpaceX (NASDAQ:SPCX) last released its quarterly earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.25. The business had revenue of $14.57 billion during the quarter. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The business’s revenue for the quarter was up 161.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.36) earnings per share. As a group, equities analysts expect that SpaceX will post 0.13 earnings per share for the current year.

Insider Activity

In related news, COO Gwynne Shotwell sold 342,170 shares of the business’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total value of $52,547,046.90. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hedge Funds Weigh In On SpaceX

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Syntax Research Inc. acquired a new position in SpaceX in the 2nd quarter valued at about $26,000. Atwood & Palmer Inc. acquired a new stake in shares of SpaceX during the second quarter worth about $29,000. PayPay Securities Corp acquired a new stake in shares of SpaceX during the second quarter worth about $30,000. Marquette Asset Management LLC purchased a new position in shares of SpaceX in the second quarter valued at approximately $32,000. Finally, Hickory Point Bank & Trust purchased a new position in shares of SpaceX in the third quarter valued at approximately $30,000.

Key SpaceX News

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

About SpaceX

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.