SpaceX (NASDAQ:SPCX) Stock Gets Price Target Bump from TD Cowen

Key Points

• TD Cowen raised SpaceX’s price target to $224 from $200 and maintained a “buy” rating, implying 51.57% potential upside. Analysts overall rate the stock “Moderate Buy,” with an average target of $224.86.
• SpaceX reported strong quarterly results, including $0.35 EPS versus the $0.10 consensus and revenue of about $14.6 billion, up 161% year over year. Growth was driven by its AI business and Starlink connectivity services.
• Despite strong operating momentum and possible Tesla merger discussions, investors face risks from heavy AI infrastructure spending, potential borrowing and cash-flow pressure, insider share sales, and regulatory scrutiny involving Starlink.

SpaceX (NASDAQ:SPCX - Get Free Report) had its price target lifted by investment analysts at TD Cowen from $200.00 to $224.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the stock. TD Cowen's target price would suggest a potential upside of 51.57% from the company's current price.

Several other brokerages also recently commented on SPCX. Citigroup restated a "buy" rating on shares of SpaceX in a research note on Wednesday. Oppenheimer increased their target price on shares of SpaceX from $250.00 to $280.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. reiterated a "buy" rating on shares of SpaceX in a research report on Tuesday, August 25th. Clear Str raised shares of SpaceX to a "strong-buy" rating in a report on Tuesday, July 7th. Finally, Erste Group Bank started coverage on shares of SpaceX in a research report on Thursday, October 8th. They issued a "hold" rating on the stock. Three analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $224.86.

SpaceX Trading Down 0.1%

NASDAQ SPCX opened at $147.79 on Wednesday. The firm's 50 day moving average is $148.92. The company has a quick ratio of 4.99, a current ratio of 5.12 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $1.95 trillion and a P/E ratio of -1,642.11. SpaceX has a 1-year low of $104.83 and a 1-year high of $225.64.

SpaceX (NASDAQ:SPCX - Get Free Report) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.25. The company had revenue of $14.57 billion during the quarter. During the same quarter last year, the business earned ($0.36) EPS. SpaceX's revenue for the quarter was up 161.4% on a year-over-year basis. On average, analysts predict that SpaceX will post 0.07 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Gwynne Shotwell sold 342,170 shares of the 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 sale, the chief operating officer owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. This represents a 12.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Trading of SpaceX

A number of hedge funds and other institutional investors have recently made changes to their positions in SPCX. Viking Fund Management LLC bought a new stake in shares of SpaceX in the 3rd quarter valued at about $1,358,000. Wedbush Securities Inc. bought a new position in SpaceX during the 2nd quarter worth approximately $5,094,000. Avior Wealth Management LLC bought a new position in SpaceX during the 3rd quarter worth approximately $2,934,000. Apella Capital LLC grew its holdings in SpaceX by 218.2% during the third quarter. Apella Capital LLC now owns 8,424 shares of the company's stock valued at $1,412,000 after purchasing an additional 5,777 shares during the period. Finally, Hyperion Asset Management Ltd acquired a new position in SpaceX during the second quarter valued at approximately $201,137,000.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Q3 results exceeded expectations. SpaceX reported $14.58 billion in revenue, up 161% year over year, and earnings per share of $0.35 versus the $0.10 consensus estimate. Net income reached approximately $4.4 billion, compared with a loss a year earlier. SpaceX quarterly revenue jumps, beats estimates as AI business surges
• Positive Sentiment: AI and Starlink are accelerating growth. Super Intelligence revenue reached $7.56 billion, while Connectivity revenue rose 69% to $5.25 billion. Starlink subscribers increased to 13.6 million, and recurring satellite revenue helped support profitability. SpaceX Q3 revenue surges and beats estimates
• Positive Sentiment: Potential Tesla merger talks added to investor enthusiasm. SpaceX and Tesla formed independent committees to evaluate a possible merger, which Elon Musk called a “good idea.” Analysts including Dan Ives and Gene Munster view a transaction as plausible, though no deal or terms are certain. SpaceX and Tesla boards form special committees to review merger
• Neutral Sentiment: Management outlined ambitious expansion plans. Musk expects significant additional AI computing capacity and projected long-term recurring revenue growth, while the company and Tesla are targeting volume chip production through their Terafab project in 2028. These forecasts offer upside but remain execution-dependent.
• Negative Sentiment: Heavy investment and financing needs remain key risks. SpaceX spent about $19.6 billion on capital expenditures during the quarter, including $16.4 billion for AI infrastructure. Analysts warn that additional borrowing, cash burn and rising debt could pressure valuation despite the profit beat. More than one billion shares may also become eligible for sale as lockups expire.
• Negative Sentiment: Starlink faces reputational and regulatory concerns. Reports that Musk ordered a slowdown of Starlink service affecting Ukraine could increase political scrutiny and create risks for government relationships and future contracts. Musk ordered Starlink slowdown affecting Ukraine

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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