SpaceX (NASDAQ:SPCX) Raised to Hold at Zacks Research

SpaceX (NASDAQ:SPCX) was upgraded by analysts at Zacks Research to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

SPCX has been the topic of several other reports. KGI Securities initiated coverage on SpaceX in a research note on Thursday, June 11th. They set an “outperform” rating on the stock. Wolfe Research assumed coverage on SpaceX in a research note on Friday. They set an “outperform” rating and a $175.00 target price on the stock. Cfra assumed coverage on SpaceX in a research report on Friday, June 12th. They set a “sell” rating and a $115.00 price target for the company. New Street Research raised SpaceX to a “strong-buy” rating in a research report on Thursday, June 11th. Finally, Oppenheimer set a $190.00 price target on SpaceX and gave the stock an “outperform” rating in a research report on Thursday, June 11th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $161.25.

SpaceX Trading Up 4.8%

Shares of SPCX stock opened at $201.80 on Monday. SpaceX has a 1-year low of $149.34 and a 1-year high of $225.64.

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

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX announced a $60 billion stock deal to acquire Cursor-maker Anysphere, boosting its AI strategy and giving investors another reason to bid up the newly public shares. SpaceX to acquire the AI coding startup Cursor for $60 billion
• Positive Sentiment: Options on SpaceX began trading with unusually heavy volume, signaling strong speculative demand and potential volatility-driven upside as traders rush into calls. Options on SpaceX shares start trading
• Positive Sentiment: Momentum remains strong after SpaceX’s historic IPO, with the stock continuing to attract inflows from retail traders, ETFs, and passive funds looking for exposure to the new mega-cap name. Overnight price spike sees SpaceX overtake Amazon as America’s fifth-largest company
• Neutral Sentiment: The company’s soaring valuation has also sparked a wave of commentary about whether SpaceX is becoming a meme-stock-style trade driven more by sentiment and derivatives than fundamentals. Technical factors are adding fuel to SpaceX’s meme stock fire
• Negative Sentiment: CFRA initiated a rare Sell rating, arguing SpaceX’s AI ambitions are being valued too aggressively and that the stock may be ahead of itself after the rapid post-IPO run. SpaceX’s First Wall Street Bear Just Placed A Sell Rating
• Negative Sentiment: Michael Burry said he is tempted to bet against SpaceX, highlighting growing skepticism about the company’s near-$3 trillion valuation. Michael Burry says he’s tempted to bet against SpaceX

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.