SpaceX (NASDAQ:SPCX) Shares Climb 1.1% – Time to Buy?

SpaceX (NASDAQ:SPCX)’s share price rose 1.1% during trading on Tuesday. The stock traded as high as $151.36 and last traded at $148.58. 94,985,048 shares were traded during mid-day trading, a decline of 8% from the average session volume of 103,216,000 shares. The stock had previously closed at $146.90.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Strong quarterly results: SpaceX reported $14.58 billion in third-quarter revenue, up 161% year over year, and $0.35 in adjusted EPS versus a $0.10 consensus estimate. Net income reached approximately $4.4 billion, reinforcing the growth narrative. SpaceX earnings report
• Positive Sentiment: AI growth and financing: The company secured a binding commitment for roughly $40 billion of financing for Nvidia Vera Rubin GPUs and related data-center equipment. The buildout is intended to expand Grok and cloud-computing capacity, with equipment expected to be delivered beginning in 2027. SpaceX GPU financing deal
• Positive Sentiment: More bullish targets: Bernstein raised its SpaceX price target to $268 from $248 and retained an Outperform rating, citing AI infrastructure and potential orbital data-center opportunities. Other coverage points to consensus upside, although price targets are inherently uncertain. Bernstein raises SpaceX target
• Positive Sentiment: Commercial momentum: easyJet’s planned Starlink installation expands SpaceX’s aviation connectivity footprint, while the company’s spectrum holdings support longer-term ambitions in wireless communications. Starlink easyJet agreement
• Neutral Sentiment: Potential Tesla combination: Special committees at SpaceX and Tesla are evaluating a possible merger. Supporters see synergies in AI, chips, energy and robotics, but deal terms, timing and shareholder ownership remain unresolved. SpaceX Tesla merger discussions
• Negative Sentiment: Execution and valuation concerns: More than half of quarterly revenue came from the AI segment, while roughly 84% of capital spending supported AI. The $40 billion financing adds leverage, and critics question whether customer demand and future returns will justify the spending. The stock also trades at a demanding valuation relative to sales. SpaceX AI spending risks
• Negative Sentiment: Competitive risks: Verizon’s CEO estimates that building a terrestrial wireless network could require up to eight years and $500 billion, suggesting SpaceX’s telecom ambitions may require enormous additional investment and face entrenched carrier competition. Verizon comments on SpaceX wireless plans

Analyst Upgrades and Downgrades

SPCX has been the topic of several research analyst reports. Raymond James Financial reissued a “strong-buy” rating on shares of SpaceX in a report on Wednesday, October 14th. Phillip Securities raised shares of SpaceX from a “strong sell” rating to a “strong-buy” rating in a research report on Friday. Barclays raised their target price on SpaceX from $254.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 21st. Moffett Nathanson lifted their target price on shares of SpaceX from $131.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, September 14th. Finally, Sanford C. Bernstein set a $267.00 price target on shares of SpaceX in a research report on Monday. Four research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.97.

SpaceX Price Performance

The business’s 50 day moving average is $149.24. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00. The company has a market cap of $1.96 trillion and a P/E ratio of -1,650.89.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings results 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. SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. The firm had revenue of $14.57 billion during the quarter. During the same period last year, the firm earned ($0.36) earnings per share. SpaceX’s revenue was up 161.4% on a year-over-year basis. On average, equities analysts forecast that SpaceX will post 0.13 EPS for the current year.

Insider Buying and Selling

In related news, COO Gwynne Shotwell sold 342,170 shares of the stock in a transaction 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 $379,630,414.95. This represents a 12.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SC US Ttgp LTD. acquired a new position in shares of SpaceX during the second quarter worth about $20,933,621,000. Darsana Capital Partners LP purchased a new stake in shares of SpaceX in the second quarter valued at about $17,335,783,000. K5 Global Advisor LLC acquired a new stake in SpaceX during the 2nd quarter valued at $6,587,531,000. State Street Corp purchased a new stake in SpaceX during the 2nd quarter worth about $1,858,329,000. Finally, Dragoneer Investment Group LLC purchased a new stake in shares of SpaceX during the second quarter worth about $1,366,880,000.

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.