SpaceX (NASDAQ:SPCX) Stock Rating Reaffirmed as Buy by TD Cowen

Key Points

• TD Cowen reaffirmed its Buy rating on SpaceX with a $200 price target, implying 23.05% upside from the reported $162.53 share price. Analysts overall maintain a “Moderate Buy” consensus with an average target of $219.77.
• SpaceX reported quarterly revenue of $7.81 billion, up 91.9% year over year, and posted a loss of $0.09 per share that beat the consensus estimate of a $0.26 loss.
• Potential catalysts include expanded Starlink satellite capacity and spectrum opportunities, while risks include insider selling and the potential release of approximately 319 million shares that could increase short-term selling pressure.

SpaceX (NASDAQ:SPCX - Get Free Report)'s stock had its "buy" rating reissued by research analysts at TD Cowen in a note issued to investors on Friday, MarketBeat.com reports. They presently have a $200.00 target price on the stock. TD Cowen's price target would indicate a potential upside of 23.05% from the stock's current price.

Other analysts have also issued reports about the company. Needham & Company LLC restated a "buy" rating on shares of SpaceX in a research note on Wednesday, September 30th. Phillip Securities upgraded SpaceX to a "strong sell" rating and set a $75.00 price target for the company in a research note on Friday, July 31st. Zacks Research upgraded SpaceX to a "hold" rating in a research note on Monday, June 15th. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of SpaceX in a report on Tuesday, August 25th. Finally, Mizuho assumed coverage on shares of SpaceX in a research report on Tuesday, July 7th. They set an "outperform" rating and a $200.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the company's stock. According to MarketBeat.com, SpaceX presently has a consensus rating of "Moderate Buy" and an average target price of $219.77.

SpaceX Stock Performance

SPCX traded up $1.96 during midday trading on Friday, reaching $162.53. The company had a trading volume of 87,544,282 shares, compared to its average volume of 102,320,969. SpaceX has a 12-month low of $104.83 and a 12-month high of $225.64. The business's 50-day moving average price is $143.95. The company has a market capitalization of $2.14 trillion and a PE ratio of -1,805.92. 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 - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.26) by $0.17. The company had revenue of $7.81 billion during the quarter. The company's revenue was up 91.9% on a year-over-year basis. On average, research analysts anticipate that SpaceX will post 0.09 earnings per share for the current year.

Insiders Place Their Bets

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the 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 sale, the chief operating officer directly owned 2,472,035 shares in the company, valued at $379,630,414.95. This represents a 12.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Inflows and Outflows

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

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: The spectrum acquisition could improve indoor and nationwide coverage for Starlink Mobile, strengthen SpaceX’s direct-to-device strategy and create a new wireless revenue opportunity. The deal remains subject to final FCC approval. Reuters spectrum acquisition article
• Positive Sentiment: The FCC approved SpaceX’s plan for up to 15,000 additional Starlink satellites for mobile and direct-to-device connectivity, removing a potentially important regulatory hurdle. FCC approval article
• Positive Sentiment: Analyst support added to the bullish narrative. TD Cowen reaffirmed a Buy rating with a $200 target, while Barclays initiated coverage with a Buy rating and a $254 target; other analysts cited Starlink and AI infrastructure as long-term growth drivers. Barclays SpaceX price target article
• Positive Sentiment: The successful return of NASA’s Crew-12 astronauts after 237 days in orbit reinforces SpaceX’s operational reliability and its role in NASA’s commercial crew program. NASA Crew-12 return article
• Neutral Sentiment: SpaceX is reportedly exploring roughly $40 billion in financing to purchase Nvidia chips and expand AI data-center capacity. The opportunity could diversify revenue, but the financing terms and investment returns remain uncertain. AI chip financing article
• Negative Sentiment: Up to approximately 319 million insider shares became eligible for sale, creating a potential increase in supply and short-term selling pressure. SpaceX insider share unlock article

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.