Baird Financial Group Inc. Acquires New Stake in SpaceX $SPCX

Key Points

• Baird Financial Group acquired 78,590 SpaceX shares during the second quarter, valued at approximately $13.4 million. Several other institutional investors also initiated smaller positions.
• SpaceX reported quarterly revenue of $7.81 billion, up 91.9% year over year, and loss per share of $0.09—better than the consensus estimate of a $0.26 loss.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $221.06, although the stock’s extremely high valuation and potential lockup-related selling remain risks.

Baird Financial Group Inc. acquired a new position in shares of SpaceX (NASDAQ:SPCX - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 78,590 shares of the company's stock, valued at approximately $13,428,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Syntax Research Inc. acquired a new position in shares of SpaceX in the second quarter valued at approximately $26,000. Atwood & Palmer Inc. acquired a new stake in SpaceX during the second quarter worth approximately $29,000. PayPay Securities Corp acquired a new stake in SpaceX during the second quarter worth approximately $30,000. Marquette Asset Management LLC purchased a new stake in SpaceX in the 2nd quarter worth approximately $32,000. Finally, POM Investment Strategies LLC acquired a new position in SpaceX in the 2nd quarter valued at $39,000.

SpaceX Price Performance

NASDAQ:SPCX opened at $151.21 on Friday. The firm has a 50-day moving average of $134.79. The stock has a market capitalization of $1.98 trillion and a price-to-earnings ratio of -1,680.11. SpaceX has a 12 month low of $104.83 and a 12 month high of $225.64. The company has a quick ratio of 4.99, a current ratio of 5.12 and a debt-to-equity ratio of 0.29.

SpaceX (NASDAQ:SPCX - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.17. The company had revenue of $7.81 billion during the quarter. The firm's quarterly revenue was up 91.9% on a year-over-year basis. Equities analysts anticipate that SpaceX will post -0.15 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on SPCX. Phillip Securities raised SpaceX to a "strong sell" rating in a research note on Friday, July 31st. Zacks Research upgraded SpaceX to a "hold" rating in a research note on Monday, June 15th. Benchmark assumed coverage on SpaceX in a research report on Monday, June 22nd. They set a "buy" rating on the stock. Argus raised SpaceX from a "hold" rating to a "buy" rating and set a $160.00 price target on the stock in a research note on Friday, August 7th. Finally, Guggenheim initiated coverage on shares of SpaceX in a research note on Friday, August 7th. They set a "buy" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have issued a Hold rating and seven have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $221.06.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX CFO Bret Johnsen disclosed a new AI-computing agreement worth approximately $1.11 billion per month, or more than $13 billion in annual recurring revenue, beginning December 1. The contract strengthens management’s case for reaching its $100 billion annual recurring-revenue target. SpaceX Closes $1.11 Billion-a-Month Compute Deal
• Positive Sentiment: Management expects Starship Flight 14 to generate revenue for the first time later this month, with the mission carrying production Starlink satellites. A successful revenue flight would mark progress from demonstrations toward a commercial launch business. Starship Revenue Flight 14
• Positive Sentiment: Goldman Sachs reaffirmed a Buy rating and $220 price target, citing accelerating AI, Starship and Starlink growth. William Blair also maintained a bullish view tied to multibillion-dollar SpaceX AI contracts. Goldman Sachs Reaffirms Buy Rating
• Positive Sentiment: Britain’s confirmation that it uses SpaceX’s military satellite network, alongside a reported Starshield contract and a successful Space Force launch, supports demand for the company’s government and defense services. Britain Uses SpaceX Military Network
• Neutral Sentiment: SpaceX is reportedly reconsidering the pace and structure of its AI data-center buildout. A more efficient strategy could improve returns, but slower expansion could delay projected AI revenue growth. SpaceX Data-Center Buildout Report
• Negative Sentiment: A 319-million-share lockup release has increased potential selling pressure, with additional shares reportedly scheduled to become tradable. SpaceX Lockup Release
• Negative Sentiment: Some analysts and commentators warn that SpaceX’s valuation—reported at roughly 98 times sales—leaves little room for execution errors. Isar Aerospace’s successful orbital launch also highlights rising European competition. Isar Aerospace Reaches Orbit
• Negative Sentiment: SpaceX’s lawsuit seeking to keep Texas Terafab tax-break records private may create reputational and regulatory concerns around its AI infrastructure expansion. SpaceX Terafab Records Lawsuit

SpaceX 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, serving commercial, government and scientific customers.

SpaceX's principal products include the Falcon 9 and Falcon Heavy rockets, which are used to launch satellites, spacecraft and other payloads into orbit. The company also develops the Dragon spacecraft, which supports cargo and crew missions to low Earth orbit, including missions for NASA and other customers.

Through its Starlink business, SpaceX operates a large constellation of low Earth orbit satellites that provides broadband internet service to customers in numerous countries and regions.

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