SpaceX (NASDAQ:SPCX) Earns "Buy" Rating from Needham & Company LLC

Key Points

• Needham reaffirmed its “Buy” rating on SpaceX with a $250 price target, implying 99.47% upside from the $125.33 opening price. Analysts overall rate the stock “Moderate Buy,” with an average target of $229.93.
• SpaceX reported quarterly revenue of $7.81 billion, up 91.9% year over year, while its $0.09-per-share loss was narrower than expected. Starlink generated approximately $4.3 billion in revenue and remained the company’s primary profit engine.
• Investors face significant risks, including roughly $18.4 billion in quarterly capital expenditures and the potential sale of about 911 million insider and pre-IPO shares, which could increase near-term selling pressure.

SpaceX (NASDAQ:SPCX - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They currently have a $250.00 price objective on the stock. Needham & Company LLC's price target indicates a potential upside of 99.47% from the company's current price.

A number of other equities research analysts have also issued reports on SPCX. Benchmark assumed coverage on shares of SpaceX in a research note on Monday, June 22nd. They set a "buy" rating for the company. Sanford C. Bernstein reissued an "outperform" rating on shares of SpaceX in a research report on Tuesday, July 28th. Cantor Fitzgerald started coverage on SpaceX in a research note on Tuesday, July 7th. They set an "overweight" rating and a $246.00 price target for the company. Susquehanna initiated coverage on SpaceX in a research note on Tuesday, June 23rd. They issued a "neutral" rating and a $170.00 price target for the company. Finally, JPMorgan Chase & Co. assumed coverage on shares of SpaceX in a research report on Tuesday, July 7th. They set an "overweight" rating and a $225.00 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $229.93.

SpaceX Price Performance

Shares of NASDAQ:SPCX opened at $125.33 on Wednesday. SpaceX has a one year low of $104.83 and a one year high of $225.64.

SpaceX (NASDAQ:SPCX - Get Free Report) last released 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 firm had revenue of $7.81 billion during the quarter. The company's quarterly revenue was up 91.9% compared to the same quarter last year.

Institutional Investors Weigh In On SpaceX

Several institutional investors and hedge funds have recently made changes to their positions in the company. Atwood & Palmer Inc. acquired a new position in shares of SpaceX in the 2nd quarter worth approximately $29,000. Marquette Asset Management LLC acquired a new stake in SpaceX during the 2nd quarter valued at $32,000. Burkett Financial Services LLC bought a new position in SpaceX in the 2nd quarter valued at $70,000. Contravisory Investment Management Inc. acquired a new position in SpaceX in the second quarter worth $73,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of SpaceX during the second quarter worth $89,000.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX reported second-quarter revenue of $7.81 billion, up 91.9% year over year and ahead of analyst expectations. Its adjusted EBITDA also reportedly exceeded consensus, while the company’s loss of $0.09 per share was narrower than expected. Reuters earnings report
• Positive Sentiment: Starlink remains the primary profit engine, generating approximately $4.3 billion in quarterly revenue and about $1.66 billion in operating profit. Management also pointed to strong demand for AI-compute services, including new contracts that could support future revenue growth. TechCrunch SpaceX growth report
• Positive Sentiment: Several analysts maintained Buy or Outperform ratings and bullish price targets, citing Starlink’s expansion, potential Starship reusability, AI growth, and management’s long-term revenue ambitions. TipRanks analyst rating
• Neutral Sentiment: SpaceX said it plans to use Nvidia hardware exclusively for its AI infrastructure, potentially strengthening its computing capabilities but also highlighting the scale of its planned investment. Benzinga Nvidia report
• Negative Sentiment: Capital expenditures surged to roughly $18.4 billion in the quarter—more than twice revenue and nearly seven times the year-ago level. AI and space operations remain loss-making, raising concerns that Starlink’s profits may not be sufficient to fund Musk’s ambitions or generate reliable free cash flow. CNBC capital expenditure report
• Negative Sentiment: Approximately 911 million insider and pre-IPO shares become eligible for sale on August 6, potentially more than doubling the public float and creating significant near-term selling pressure. Reuters lockup report
• Negative Sentiment: SpaceX also recorded an approximately $540 million unrealized loss on its Bitcoin holdings, adding volatility to reported results, while Starlink Mobile’s expansion could intensify competition with AT&T, Verizon, and T-Mobile. Bitcoin.com SpaceX report

About SpaceX

SpaceX, or Space Exploration Technologies Corp., is an American aerospace company focused on the design, manufacture and launch of advanced rockets and spacecraft. The company develops launch vehicles and space systems used for commercial, government and scientific missions, with a strong emphasis on lowering the cost of access to space through reusable rocket technology.

Founded in 2002 by Elon Musk, SpaceX has built a broad portfolio of products and services that includes the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starship development program.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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