SpaceX (NASDAQ:SPCX) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded SpaceX from “sell” to “hold.” Despite the upgrade, broader analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $244.19.
• SpaceX exceeded quarterly earnings expectations. The company reported $0.35 in EPS versus the $0.10 consensus estimate, while revenue rose 161.4% year over year to approximately $14.57 billion.
• Insider selling adds a note of caution. COO Gwynne Shotwell sold 342,170 shares worth about $52.5 million under a pre-arranged Rule 10b5-1 trading plan.

SpaceX (NASDAQ:SPCX - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

SPCX has been the topic of several other research reports. Needham & Company LLC restated a "buy" rating and issued a $250.00 target price on shares of SpaceX in a report on Wednesday. Guggenheim started coverage on shares of SpaceX in a research note on Friday, August 7th. They set a "buy" rating for the company. Arete Research set a $450.00 price target on SpaceX in a report on Tuesday, August 11th. Wolfe Research reissued an "outperform" rating and set a $175.00 price target on shares of SpaceX in a report on Wednesday, August 26th. Finally, TD Cowen raised their price target on SpaceX from $200.00 to $224.00 and gave the stock a "buy" rating in a research note on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $244.19.

SpaceX Stock Up 1.9%

Shares of NASDAQ SPCX opened at $147.49 on Friday. The company's 50-day moving average is $149.40. 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 has a 52-week low of $104.83 and a 52-week 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 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.25. The company had revenue of $14.57 billion during the quarter. During the same period in the previous year, the company earned ($0.36) EPS. The firm's revenue for the quarter was up 161.4% on a year-over-year basis. As a group, equities research analysts forecast that SpaceX will post 0.13 EPS for the current year.

Insider Activity at SpaceX

In related news, COO Gwynne Shotwell sold 342,170 shares of the firm's stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total value of $52,547,046.90. Following the transaction, the chief operating officer directly 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 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

Several hedge funds have recently bought and sold shares of SPCX. Syntax Research Inc. bought a new position in shares of SpaceX in the second quarter worth about $26,000. Atwood & Palmer Inc. bought a new position in shares of SpaceX during the 2nd quarter valued at approximately $29,000. PayPay Securities Corp bought a new position in shares of SpaceX during the 2nd quarter valued at approximately $30,000. Hickory Point Bank & Trust purchased a new stake in SpaceX in the 3rd quarter worth approximately $30,000. Finally, Maryland Capital Advisors Inc. purchased a new stake in SpaceX in the 3rd quarter worth approximately $30,000.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Strong earnings and AI growth supported the rebound. SpaceX reported third-quarter revenue of $14.58 billion, up 161% year over year, and earnings per share of $0.35 versus analysts’ $0.10 estimate. Its AI segment reportedly generated $431 million in net income, helping offset losses in the launch business. Fantastic News for SpaceX Stock Investors
• Positive Sentiment: Analyst sentiment improved sharply. PhilipCapital upgraded SpaceX from “Sell” to “Buy” and raised its price target from $75 to $250. Bank of America also lifted its target to $275, citing stronger growth prospects and Starship milestones. SpaceX Just Scored a Double Upgrade
• Positive Sentiment: Wireless ambitions broaden the growth story. Reports that SpaceX is seeking access to at least 80,000 U.S. cell sites suggest Starlink could evolve into a nationwide wireless carrier, potentially creating a major new revenue stream. The news pressured telecom stocks while benefiting tower owners. SpaceX Seeks Access to 80,000 US Cell Sites
• Neutral Sentiment: A potential Tesla NASDAQ: TSLA merger remains speculative. Elon Musk called the combination a “good idea,” but valuation, conflicts of interest, shareholder approval, antitrust review and Tesla’s China operations could delay or prevent a transaction. SpaceX-Tesla Merger Chatter
• Negative Sentiment: Funding and cash-burn concerns remain significant. SpaceX reportedly burned more than $9.9 billion in free cash flow during the quarter and is raising approximately $40 billion of debt at relatively high interest rates to finance AI and other expansion plans. SpaceX $40 Billion Debt Deal
• Negative Sentiment: Execution and reputational risks could limit upside. The launch division was unprofitable because of heavy research spending, while reports of continuing Starlink restrictions in Ukraine could threaten government relationships and future contracts. In addition, upcoming insider share unlocks may increase supply. Ukraine Says Starlink Restrictions Remain

SpaceX Company Profile

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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