SpaceX (NASDAQ:SPCX) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of SpaceX (NASDAQ:SPCX) to a hold rating in a research note released on Monday morning,Zacks.com reports.

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

SpaceX Stock Performance

Shares of NASDAQ SPCX opened at $201.80 on Monday. SpaceX has a 12-month low of $149.34 and a 12-month high of $225.64.

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

Key Stories Impacting SpaceX

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.