SpaceX’s (SPCX) Buy Rating Reiterated at Needham & Company LLC

SpaceX (NASDAQ:SPCX)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They presently have a $250.00 price target on the stock. Needham & Company LLC’s price target would suggest a potential upside of 99.47% from the company’s previous close.

A number of other equities research analysts have also issued reports on SPCX. Raymond James Financial reissued a “strong-buy” rating on shares of SpaceX in a research report on Monday, July 27th. Wall Street Zen cut shares of SpaceX from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. The Goldman Sachs Group initiated coverage on shares of SpaceX in a report on Tuesday, July 7th. They issued a “buy” rating and a $205.00 price objective on the stock. Barclays upgraded shares of SpaceX from an “underweight” rating to an “overweight” rating in a report on Monday, June 22nd. Finally, HSBC initiated coverage on shares of SpaceX in a research report on Thursday, July 23rd. They issued a “hold” rating and a $115.00 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $229.93.

SpaceX Stock Performance

Shares of NASDAQ:SPCX opened at $125.33 on Wednesday. SpaceX has a one year low of $104.83 and a one year high of $225.64.

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

Institutional Investors Weigh In On SpaceX

A number of large investors have recently modified their holdings of SPCX. Atwood & Palmer Inc. bought a new position in SpaceX in the second quarter valued at about $29,000. Marquette Asset Management LLC bought a new position in shares of SpaceX in the second quarter worth about $32,000. Burkett Financial Services LLC acquired a new stake in shares of SpaceX in the 2nd quarter valued at approximately $70,000. Contravisory Investment Management Inc. acquired a new stake in shares of SpaceX in the 2nd quarter valued at approximately $73,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of SpaceX during the 2nd quarter valued at approximately $89,000.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX reported second-quarter revenue of $7.81 billion, up 91.9% year over year and ahead of analyst expectations. Its adjusted EBITDA also reportedly exceeded consensus, while the company’s loss of $0.09 per share was narrower than expected. Reuters earnings report
• Positive Sentiment: Starlink remains the primary profit engine, generating approximately $4.3 billion in quarterly revenue and about $1.66 billion in operating profit. Management also pointed to strong demand for AI-compute services, including new contracts that could support future revenue growth. TechCrunch SpaceX growth report
• Positive Sentiment: Several analysts maintained Buy or Outperform ratings and bullish price targets, citing Starlink’s expansion, potential Starship reusability, AI growth, and management’s long-term revenue ambitions. TipRanks analyst rating
• Neutral Sentiment: SpaceX said it plans to use Nvidia hardware exclusively for its AI infrastructure, potentially strengthening its computing capabilities but also highlighting the scale of its planned investment. Benzinga Nvidia report
• Negative Sentiment: Capital expenditures surged to roughly $18.4 billion in the quarter—more than twice revenue and nearly seven times the year-ago level. AI and space operations remain loss-making, raising concerns that Starlink’s profits may not be sufficient to fund Musk’s ambitions or generate reliable free cash flow. CNBC capital expenditure report
• Negative Sentiment: Approximately 911 million insider and pre-IPO shares become eligible for sale on August 6, potentially more than doubling the public float and creating significant near-term selling pressure. Reuters lockup report
• Negative Sentiment: SpaceX also recorded an approximately $540 million unrealized loss on its Bitcoin holdings, adding volatility to reported results, while Starlink Mobile’s expansion could intensify competition with AT&T, Verizon, and T-Mobile. Bitcoin.com SpaceX report

SpaceX Company Profile

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.