TD Cowen Reaffirms Buy Rating for SpaceX (NASDAQ:SPCX)

SpaceX (NASDAQ:SPCX)‘s stock had its “buy” rating reiterated by analysts at TD Cowen in a research report issued to clients and investors on Friday, MarketBeat reports. They presently have a $200.00 target price on the stock. TD Cowen’s target price suggests a potential upside of 24.15% from the stock’s previous close.

A number of other research firms have also recently weighed in on SPCX. Daiwa Securities Group began coverage on shares of SpaceX in a report on Thursday, July 2nd. They issued a “neutral” rating and a $175.00 price objective on the stock. Guggenheim started coverage on shares of SpaceX in a research report on Friday, August 7th. They issued a “buy” rating for the company. Cfra started coverage on shares of SpaceX in a research note on Friday, June 12th. They issued a “sell” rating and a $115.00 price target on the stock. KGI Securities downgraded SpaceX from an “outperform” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Sanford C. Bernstein reissued a “buy” rating on shares of SpaceX in a report on Monday, September 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, nine have given a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, SpaceX currently has an average rating of “Moderate Buy” and an average target price of $219.77.

SpaceX Stock Performance

Shares of NASDAQ SPCX traded up $0.52 during trading on Friday, reaching $161.09. The stock had a trading volume of 65,881,865 shares, compared to its average volume of 102,061,672. The stock has a 50 day simple moving average of $143.95. SpaceX has a one year low of $104.83 and a one year high of $225.64. The firm has a market capitalization of $2.12 trillion and a PE ratio of -1,791.59. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29.

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

Insider Transactions at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of SpaceX stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the transaction, the chief operating officer directly owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. This trade represents a 12.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Trading of SpaceX

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

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Nationwide spectrum acquisition strengthens Starlink Mobile. SpaceX agreed to acquire Grain Management’s nationwide portfolio of low-band 800 MHz spectrum, reportedly covering up to 14 MHz of paired licenses and nearly the entire U.S. population. The lower-frequency spectrum could improve indoor and rural coverage while complementing Starlink’s direct-to-device satellite network, bringing SpaceX closer to becoming a major mobile carrier. Verizon stock heads for worst day since 2002 as SpaceX U.S. network plans whack telcos
• Positive Sentiment: Regulatory progress supports the wireless strategy. The FCC approved SpaceX’s next-generation Starlink constellation of up to 15,000 satellites for mobile and direct-to-device services, without requiring ground-provider leases. The approvals increase the potential scale of Starlink Mobile and contributed to investor optimism. Elon Musk’s SpaceX Gets Green Light from Trump’s FCC for 15,000 Starlink Satellites
• Positive Sentiment: Analyst support and AI ambitions added momentum. Barclays initiated coverage with a Buy rating and a $254 price target, while TD Cowen reaffirmed its Buy rating with a $200 target. Investors are also weighing SpaceX’s reported plans to raise as much as $40 billion to purchase Nvidia chips and expand AI-computing capacity, potentially creating another significant growth engine. Two Reasons SpaceX Stock Is Jumping Higher Today
• Neutral Sentiment: Competition is reshaping the communications sector. Verizon, AT&T and T-Mobile sold off sharply on fears that SpaceX could pressure traditional wireless operators, while cell-tower owners may benefit if SpaceX becomes a major network tenant. The deal remains subject to final FCC approval. US, European telecom stocks slide as SpaceX spectrum deal rattles sector
• Negative Sentiment: Financing and share-supply risks remain overhangs. Investors continue to question the leverage required for the AI buildout, while approximately $51 billion of insider shares became eligible for sale. ARK Invest also sold roughly $4.7 million of SpaceX shares, potentially limiting near-term gains. SpaceX’s Fleecing of Retail Investors Continues

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.