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

Key Points

• TD Cowen reaffirmed its Buy rating on SpaceX with a $200 price target, implying 23.19% upside from the prior close. Analysts overall rate the stock “Moderate Buy,” with a consensus target of $219.77.
• SpaceX shares rose 1.1% to $162.35, while quarterly results exceeded expectations: adjusted EPS was a loss of $0.09 versus the projected loss of $0.26, and revenue increased 91.9% year over year to $7.81 billion.
• Insider selling presents a potential cautionary signal: COO Gwynne Shotwell sold 342,170 shares worth approximately $52.5 million under a pre-arranged trading plan, reducing her holdings by 12.16%.

SpaceX (NASDAQ:SPCX - Get Free Report)'s stock had its "buy" rating restated by stock analysts at TD Cowen in a report issued on Friday, MarketBeat.com reports. They presently have a $200.00 price objective on the stock. TD Cowen's price target would indicate a potential upside of 23.19% from the company's previous close.

Several other analysts also recently weighed in on SPCX. Benchmark initiated coverage on SpaceX in a report on Monday, June 22nd. They issued a "buy" rating for the company. Barclays assumed coverage on shares of SpaceX in a report on Thursday. They issued an "overweight" rating and a $254.00 target price on the stock. Bank of America began coverage on shares of SpaceX in a research note on Tuesday, July 7th. They set a "buy" rating and a $235.00 price target for the company. Argus raised shares of SpaceX from a "hold" rating to a "buy" rating and set a $160.00 target price for the company in a report on Friday, August 7th. Finally, Piper Sandler dropped their price target on SpaceX from $156.00 to $140.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $219.77.

SpaceX Stock Up 1.1%

NASDAQ SPCX traded up $1.78 on Friday, hitting $162.35. 60,285,052 shares of the stock were exchanged, compared to its average volume of 102,014,133. SpaceX has a fifty-two week low of $104.83 and a fifty-two week high of $225.64. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29. The firm has a market cap of $2.14 trillion and a P/E ratio of -1,804.57. The firm has a 50-day simple moving average of $143.95.

SpaceX (NASDAQ:SPCX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.17. The company had revenue of $7.81 billion during the quarter. The business's revenue for the quarter was up 91.9% compared to the same quarter last year. As a group, equities research analysts predict that SpaceX will post 0.09 EPS for the current fiscal year.

Insider Activity at SpaceX

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

Institutional Trading of SpaceX

Several institutional investors have recently made changes to their positions in the stock. SC US Ttgp LTD. acquired a new position in shares of SpaceX during the second quarter worth $20,933,621,000. Darsana Capital Partners LP acquired a new position in SpaceX during the 2nd quarter worth $17,335,783,000. K5 Global Advisor LLC acquired a new stake in shares of SpaceX in the 2nd quarter valued at about $6,587,531,000. State Street Corp acquired a new stake in SpaceX during the second quarter valued at approximately $1,858,329,000. Finally, Dragoneer Investment Group LLC bought a new stake in shares of SpaceX in the 2nd quarter valued at 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 800 MHz low-band spectrum, covering nearly the entire U.S. population. The licenses could improve indoor and ground-level coverage and allow Starlink to offer more complete direct-to-device wireless service, increasing the competitive threat to AT&T, Verizon and T-Mobile. The transaction remains subject to final FCC approval. SpaceX Acquires Nationwide Spectrum Licenses
• Positive Sentiment: Regulatory approval expands the addressable market. The FCC approved SpaceX’s next-generation Starlink constellation of up to 15,000 satellites for direct-to-device services and waived a requirement to lease capacity from ground-based carriers. The decision supports the company’s mobile-network ambitions and reduces dependence on traditional telecom partners. FCC Approval for 15,000 Starlink Satellites
• Positive Sentiment: Wall Street remains constructive. Barclays initiated coverage with a Buy rating and a $254 price target, while TD Cowen reaffirmed its Buy rating with a $200 target. J.P. Morgan and Morgan Stanley have also maintained bullish views, citing spectrum expansion, Starlink cash generation and SpaceX’s AI-compute opportunity. Barclays Initiates SpaceX Coverage
• Neutral Sentiment: AI growth could be significant but requires substantial capital. SpaceX is reportedly discussing roughly $40 billion of loans and investment-grade debt to purchase Nvidia chips and expand AI data-center capacity. Supporters view contracted AI demand and Starlink cash flow as potential debt support, but the plan would increase leverage and execution risk. Apollo and Banks Discuss SpaceX Financing
• Negative Sentiment: Share supply and valuation remain risks. Up to approximately 319 million insider shares reportedly became eligible for sale, potentially creating selling pressure. In addition, ARK Invest sold about $4.7 million of SpaceX shares, while critics argue the company’s multitrillion-dollar valuation already discounts substantial success in wireless, AI and space.
• Negative Sentiment: Competitive and geopolitical risks persist. SpaceX’s wireless push has triggered sector-wide concerns, while delays to Starlink’s India launch and warnings about Russian satellite activity highlight regulatory and security risks to the broader Starlink business. Russian Satellite Activity Raises Concerns for Starlink

SpaceX Company Profile

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.