SpaceX (NASDAQ:SPCX) Trading Up 6.1% - Here's Why

Key Points

• SpaceX shares rose 6.1% to $114.92 on heavy trading volume, with approximately 252.9 million shares changing hands—130% above the average session volume.
• The company’s first public earnings report exceeded expectations: second-quarter revenue surged 91.9% year over year to $7.81 billion, while its $0.09-per-share loss was narrower than the expected $0.26 loss. Starlink remained the main earnings driver, alongside rapidly growing AI and cloud revenue.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $229.71. SpaceX and Tesla’s planned $16.8 billion Texas semiconductor facility is another potential catalyst for the company’s AI-computing ambitions.

SpaceX (NASDAQ:SPCX - Get Free Report)'s stock price rose 6.1% during trading on Thursday . The company traded as high as $115.75 and last traded at $114.92. Approximately 252,881,510 shares changed hands during mid-day trading, an increase of 130% from the average session volume of 109,719,086 shares. The stock had previously closed at $108.27.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Strong first public earnings report: Second-quarter revenue rose 91.9% year over year to $7.81 billion, while the $0.09-per-share loss was narrower than the $0.26 loss analysts expected. Starlink remained the primary earnings engine, and AI-related revenue and cloud contracts expanded rapidly. Reuters earnings report
• Positive Sentiment: Bullish growth outlook and analyst support: Management is targeting more than 2 gigawatts of computing capacity this year, projected additional cloud revenue, and long-term revenue of up to $1 trillion by 2030. Bernstein raised its price target and described the quarter as a net positive, while several firms maintained Buy or Overweight ratings. Bernstein raises SpaceX price target
• Positive Sentiment: Terafab investment adds a strategic catalyst: SpaceX and Tesla plan to invest an initial $16.8 billion in a Texas semiconductor facility, potentially supporting SpaceX’s AI-computing ambitions and deepening its technology ecosystem. Reuters Terafab report

Analyst Ratings Changes

Several research firms have commented on SPCX. New Street Research raised shares of SpaceX to a "strong-buy" rating in a research note on Thursday, June 11th. Cfra assumed coverage on shares of SpaceX in a research report on Friday, June 12th. They issued a "sell" rating and a $115.00 price objective on the stock. Bank of America started coverage on SpaceX in a report on Tuesday, July 7th. They issued a "buy" rating and a $235.00 price target on the stock. The Goldman Sachs Group began coverage on SpaceX in a report on Tuesday, July 7th. They set a "buy" rating and a $205.00 price objective for the company. Finally, Wall Street Zen downgraded SpaceX from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $229.71.

SpaceX Price Performance

SpaceX (NASDAQ:SPCX - Get Free Report) last issued its 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 firm's revenue for the quarter was up 91.9% on a year-over-year basis.

Hedge Funds Weigh In On SpaceX

A number of large investors have recently bought and sold shares of the business. Atwood & Palmer Inc. purchased a new stake in shares of SpaceX during the 2nd quarter valued at approximately $29,000. Marquette Asset Management LLC acquired a new stake in SpaceX during the second quarter worth $32,000. Burkett Financial Services LLC acquired a new stake in SpaceX during the second quarter worth $70,000. Contravisory Investment Management Inc. purchased a new stake in SpaceX in the second quarter valued at $73,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of SpaceX in the 2nd quarter valued at $89,000.

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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