SpaceX (NASDAQ:SPCX) Rating Increased to Strong Sell at DZ Bank

Key Points

• DZ Bank upgraded SpaceX to a “strong sell” rating, contrasting with a MarketBeat consensus “moderate buy” rating and an average price target of $220.20. Analyst views remain divided, ranging from “strong buy” and “buy” to “sell.”
• SpaceX shares opened at $136.97, with a market capitalization of $1.79 trillion and a 12-month trading range of $104.83 to $225.64. The stock is up 2.2% but carries a deeply negative price-to-earnings ratio.
• Quarterly results exceeded expectations, with an adjusted loss of $0.09 per share versus the anticipated $0.26 loss and revenue of $7.81 billion, up 91.9% year over year. Recent growth initiatives include expanding Starlink launches, reusable rockets and potential AI-related revenue.

SpaceX (NASDAQ:SPCX - Get Free Report) was upgraded by research analysts at DZ Bank to a "strong sell" rating in a research note issued on Thursday,Zacks.com reports.

Several other analysts have also recently issued reports on the stock. Evercore began coverage on shares of SpaceX in a research note on Tuesday, July 14th. They issued an "outperform" rating and a $230.00 target price on the stock. Arete Research set a $450.00 price target on shares of SpaceX in a research report on Tuesday, August 11th. KeyCorp reaffirmed a "sector weight" rating on shares of SpaceX in a report on Tuesday, July 28th. Piper Sandler lowered their price objective on SpaceX from $156.00 to $140.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 5th. Finally, UBS Group reissued a "buy" rating and set a $75.00 price objective (down from $210.00) on shares of SpaceX in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have issued a Hold rating and six have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $220.20.

SpaceX Stock Up 2.2%

SPCX stock opened at $136.97 on Thursday. The company has a quick ratio of 4.99, a current ratio of 5.12 and a debt-to-equity ratio of 0.29. The stock has a market cap of $1.79 trillion and a price-to-earnings ratio of -1,521.89. SpaceX has a twelve month low of $104.83 and a twelve month high of $225.64. The firm's 50-day moving average is $142.32.

SpaceX (NASDAQ:SPCX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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. On average, equities research analysts anticipate that SpaceX will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On SpaceX

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. KERR FINANCIAL PLANNING Corp bought a new position in shares of SpaceX in the 2nd quarter worth $566,000. Burkett Financial Services LLC bought a new stake in shares of SpaceX during the 2nd quarter worth $70,000. Dogwood Wealth Management LLC purchased a new position in SpaceX in the second quarter worth $139,000. Dynamic Advisor Solutions LLC purchased a new position in SpaceX in the second quarter worth $3,383,000. Finally, Apella Capital LLC bought a new position in SpaceX in the second quarter valued at $452,000.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX successfully launched 29 Starlink satellites and landed the Falcon 9 booster on a drone ship. The mission pushed Starlink toward—and according to Elon Musk, beyond—11,000 satellites in orbit, reinforcing the company’s launch cadence and satellite-internet expansion. SpaceX launches 29 Starlink satellites
• Positive Sentiment: Federal policy targeting 1,000 launches annually by 2030 could create a favorable regulatory and contracting environment for SpaceX. Musk has also outlined an extremely ambitious Starship goal of roughly 10,000 launches per year, highlighting the company’s long-term growth opportunity. Elon Musk on Starship launch targets
• Positive Sentiment: William Blair reiterated a Buy rating, citing SpaceX’s lead in reusable rockets and potential growth from AI-related revenue. A proposed $16.8 billion chip-factory venture with Tesla could also support SpaceX’s computing and AI ambitions. William Blair reiterates Buy

SpaceX Company Profile

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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