SpaceX’s (SPCX) Buy Rating Reiterated at TD Cowen

SpaceX (NASDAQ:SPCX)‘s stock had its “buy” rating reaffirmed by equities research analysts at TD Cowen in a research report issued on Friday, Benzinga reports. They currently have a $200.00 price target on the stock. TD Cowen’s target price points to a potential upside of 22.62% from the stock’s current price.

Several other research analysts have also weighed in on the stock. Morgan Stanley reiterated an “overweight” rating on shares of SpaceX in a report on Tuesday, September 29th. Wedbush initiated coverage on shares of SpaceX in a report on Tuesday, June 30th. They set an “outperform” rating and a $190.00 price objective on the stock. New Street Research upgraded shares of SpaceX to a “strong-buy” rating in a report on Thursday, June 11th. Argus upgraded shares of SpaceX from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a report on Friday, August 7th. Finally, Moffett Nathanson increased their price objective on shares of SpaceX from $131.00 to $142.00 and gave the stock a “neutral” rating in a report on Monday, September 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $219.77.

SpaceX Stock Up 1.6%

Shares of SPCX opened at $163.11 on Friday. The company has a 50-day moving average of $143.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. The stock has a market cap of $2.15 trillion and a P/E ratio of -1,806.82. SpaceX has a 52-week low of $104.83 and a 52-week high of $225.64.

SpaceX (NASDAQ:SPCX) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.17. The business had revenue of $7.81 billion during the quarter. The business’s revenue was up 91.9% compared to the same quarter last year. On average, research analysts anticipate that SpaceX will post 0.09 EPS for the current year.

Insider Buying and Selling at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $379,630,414.95. This trade represents a 12.16% decrease in their ownership of the stock. 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

Hedge funds have recently added to or reduced their stakes in the business. Decision Investments Inc. boosted its holdings in shares of SpaceX by 10.7% during the third quarter. Decision Investments Inc. now owns 1,443 shares of the company’s stock valued at $218,000 after acquiring an additional 139 shares during the period. Syntax Research Inc. acquired a new position in shares of SpaceX during the second quarter valued at $26,000. Atwood & Palmer Inc. acquired a new stake in SpaceX in the second quarter worth about $29,000. PayPay Securities Corp acquired a new stake in SpaceX in the second quarter worth about $30,000. Finally, Dominguez Wealth Management Solutions Inc. lifted its holdings in SpaceX by 8.2% in the third quarter. Dominguez Wealth Management Solutions Inc. now owns 2,390 shares of the company’s stock worth $361,000 after purchasing an additional 182 shares during the period.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Nationwide spectrum acquisition: SpaceX agreed to acquire Grain Management’s nationwide portfolio of 800 MHz, low-band spectrum licenses. The deal could improve indoor and urban coverage for Starlink Mobile and support direct-to-device connectivity, while positioning SpaceX to compete more directly with AT&T, Verizon and T-Mobile. The transaction remains subject to final FCC approval. US, European telecom stocks slide as SpaceX spectrum deal rattles sector
• Positive Sentiment: Regulatory and analyst support: The FCC approved SpaceX’s plan for as many as 15,000 additional Starlink satellites for mobile and direct-to-device services. Barclays initiated coverage with a Buy rating and a $254 price target, while J.P. Morgan and other analysts also maintained bullish views. Dan Ives added SpaceX to his AI-focused “AI 30” list. Two Reasons SpaceX Stock Is Jumping Higher Today
• Positive Sentiment: AI growth narrative: Reports that SpaceX may raise roughly $40 billion to purchase Nvidia chips and expand AI data-center capacity are reinforcing expectations that Starlink cash flow and contracted compute demand could become major growth engines. The potential financing also has attracted interest from Apollo and other institutional investors. Apollo, banks in talks to finance SpaceX’s $40 billion Nvidia GPU purchase
• Neutral Sentiment: Additional developments: American Airlines plans to install Starlink on more than 1,000 aircraft, and SpaceX successfully completed NASA’s Crew-12 mission. However, Starlink’s launch in India remains delayed amid regulatory and competitive disputes. American Airlines to add Starlink internet to more than 1,000 planes
• Negative Sentiment: Share supply and financing risks: Up to roughly 319 million insider shares became eligible for sale, potentially increasing selling pressure. Separately, the proposed AI-chip debt would materially increase leverage and has raised concerns about execution, credit risk and whether the investment can generate sufficient returns. ARK Invest also sold approximately $4.7 million of SpaceX shares. SpaceX insider share unlock

About SpaceX

Space Exploration Technologies Corp. (SpaceX) is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles, spacecraft and satellite systems designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX’s primary products and services include the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft and the Starlink satellite internet network. The company also is developing Starship, a fully reusable launch and spacecraft system intended for missions to Earth orbit, the Moon and Mars.