SpaceX (NASDAQ:SPCX) Stock Gets Price Target Boost from Bank of America

Key Points

• Bank of America raised its SpaceX price target to $275 from $235 and maintained a “buy” rating, implying 72.62% upside from the stock’s $159.31 opening price.
• SpaceX reported a strong quarter, with EPS of $0.35 versus the $0.10 consensus estimate and revenue of $14.57 billion, up 161.4% year over year. Analysts’ consensus rating remains “Moderate Buy,” with an average price target of $244.19.
• Despite improving earnings and institutional buying, investors face risks from substantial capital spending, potential insider share-sale pressure and differing analyst views, including a recent downgrade to “sell.”

SpaceX (NASDAQ:SPCX - Get Free Report) had its target price raised by equities research analysts at Bank of America from $235.00 to $275.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a "buy" rating on the stock. Bank of America's price target suggests a potential upside of 72.62% from the company's current price.

Several other equities analysts also recently commented on SPCX. Wall Street Zen downgraded shares of SpaceX from a "hold" rating to a "sell" rating in a research note on Saturday, October 3rd. Citigroup raised their target price on shares of SpaceX from $200.00 to $240.00 and gave the stock a "buy" rating in a report on Wednesday. Daiwa Securities Group started coverage on SpaceX in a research note on Thursday, July 2nd. They issued a "neutral" rating and a $175.00 price target for the company. Clear Str raised SpaceX to a "strong-buy" rating in a research report on Tuesday, July 7th. Finally, Canaccord Genuity Group assumed coverage on SpaceX in a research note on Tuesday, July 7th. They set a "buy" rating and a $246.00 price objective on the stock. Three analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, SpaceX currently has a consensus rating of "Moderate Buy" and a consensus price target of $244.19.

SpaceX Trading Up 7.8%

Shares of NASDAQ SPCX opened at $159.31 on Thursday. The company has a market capitalization of $2.10 trillion and a price-to-earnings ratio of -1,770.11. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12. SpaceX has a 1-year low of $104.83 and a 1-year high of $225.64. The business's 50 day moving average price is $149.18.

SpaceX (NASDAQ:SPCX - Get Free Report) last released its quarterly earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.25. The firm had revenue of $14.57 billion during the quarter. During the same period in the previous year, the business earned ($0.36) EPS. SpaceX's revenue for the quarter was up 161.4% compared to the same quarter last year. Analysts forecast that SpaceX will post 0.07 EPS for the current year.

Insider Activity at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of the business'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 value of $52,547,046.90. Following the completion of the transaction, the chief operating officer directly owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. The trade was a 12.16% decrease in their position. The sale 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.

Institutional Trading of SpaceX

Large investors have recently made changes to their positions in the company. Ledyard National Bank acquired a new position in SpaceX during the third quarter valued at approximately $283,000. SeaCrest Wealth Management LLC boosted its holdings in shares of SpaceX by 39.5% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 6,673 shares of the company's stock valued at $1,007,000 after purchasing an additional 1,888 shares in the last quarter. Seros Financial LLC acquired a new stake in shares of SpaceX in the 3rd quarter valued at $427,000. Legacy Financial Group Inc. bought a new position in shares of SpaceX in the 3rd quarter valued at $283,000. Finally, NBT Bank N.A. bought a new position in shares of SpaceX in the 3rd quarter valued at $302,000.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Q3 results substantially exceeded expectations. SpaceX reported $0.35 in adjusted EPS versus a $0.10 consensus estimate, while revenue rose 161% year over year to approximately $14.58 billion. The company also swung from a year-earlier loss to roughly $4.4 billion in net income. SpaceX quarterly revenue jumps, beats estimates as AI business surges
• Positive Sentiment: AI infrastructure has become the primary growth catalyst. The Super Intelligence division generated about $7.56 billion in quarterly revenue, up sharply from the prior year, and posted an operating profit. Management said deployed computing capacity reached 1.7 gigawatts and indicated that new installations can pay back in less than a year at current pricing. Why SpaceX Stock Popped After Earnings
• Positive Sentiment: Forward guidance and analyst sentiment improved. SpaceX projected first-quarter 2027 revenue of $33 billion to $37 billion, supported by a roughly $63 billion backlog. JPMorgan raised its price target from $240 to $500, while Wells Fargo, TD Cowen and Needham also lifted targets or maintained bullish ratings. JPMorgan says SpaceX will triple after huge third-quarter earnings beat
• Positive Sentiment: Starlink continues to provide recurring cash flow. Connectivity revenue reached about $5.25 billion, with consumer subscribers growing to 13.6 million. Investors also welcomed Musk’s comments about expanding AI capacity and the possibility of broader Starlink mobile services.
• Neutral Sentiment: A potential Tesla (TSLA) merger is being explored, but remains uncertain. Independent committees at both companies are reviewing a combination that could create technology and AI synergies. However, shareholder approval, valuation, regulatory issues and Tesla’s China operations could complicate any transaction. SpaceX and Tesla boards form special committees to review merger
• Negative Sentiment: Investors remain concerned about enormous capital requirements. Third-quarter capital expenditures were approximately $19.6 billion, and management expects $35 billion to $40 billion in fourth-quarter spending. Analysts warn that continued AI and satellite investment could produce substantial cash burn, debt needs and execution risk.
• Negative Sentiment: Insider share-sale eligibility may add supply pressure. Reports indicate that approximately 911.5 million shares held by select insiders became eligible for sale, potentially increasing volatility and limiting near-term upside. SpaceX is set to make dubious history yet again

About SpaceX

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

SpaceX’s principal products and services include the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starlink satellite communications network. Falcon rockets are used to launch satellites, cargo and crew, while Dragon spacecraft support transportation to and from low Earth orbit.

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