Wall Street Zen Upgrades SpaceX (NASDAQ:SPCX) to "Hold"

Key Points

• Wall Street Zen upgraded SpaceX from “Sell” to “Hold,” while broader analyst sentiment remains “Moderate Buy,” with a consensus price target of $227.31.
• SpaceX reported stronger-than-expected quarterly results, including a loss of $0.09 per share versus an expected $0.26 loss and revenue of $7.81 billion, up 91.9% year over year.
• Despite strong growth and expanding AI infrastructure plans, risks include continued GAAP losses, significant AI capital spending, upcoming share unlocks and valuation concerns; shares opened at $133.11, well below their 52-week high of $225.64.

SpaceX (NASDAQ:SPCX - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other brokerages also recently weighed in on SPCX. KGI Securities downgraded SpaceX from an "outperform" rating to a "hold" rating in a research report on Monday, June 22nd. New Street Research upgraded shares of SpaceX to a "strong-buy" rating in a report on Thursday, June 11th. Needham & Company LLC reissued a "buy" rating and set a $250.00 price target on shares of SpaceX in a research report on Wednesday. Evercore initiated coverage on shares of SpaceX in a report on Tuesday, July 14th. They issued an "outperform" rating and a $230.00 price target on the stock. Finally, Benchmark assumed coverage on shares of SpaceX in a research report on Monday, June 22nd. They issued a "buy" rating on the stock. Two equities 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 five have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $227.31.

SpaceX Price Performance

Shares of NASDAQ:SPCX opened at $133.11 on Friday. The business has a 50 day simple moving average of $143.35. The company has a quick ratio of 1.11, a current ratio of 5.12 and a debt-to-equity ratio of 0.29. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64.

SpaceX (NASDAQ:SPCX - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.17. The company had revenue of $7.81 billion for the quarter. The company's revenue was up 91.9% on a year-over-year basis. Equities research analysts predict that SpaceX will post -0.28 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Atwood & Palmer Inc. acquired a new stake in SpaceX in the second quarter worth about $29,000. Marquette Asset Management LLC acquired a new position in shares of SpaceX during the second quarter valued at about $32,000. Burkett Financial Services LLC purchased a new position in shares of SpaceX in the 2nd quarter valued at approximately $70,000. Contravisory Investment Management Inc. acquired a new stake in SpaceX in the 2nd quarter worth approximately $73,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in SpaceX during the 2nd quarter worth approximately $89,000.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Lockup pressure was less severe than feared. Approximately 911.5 million shares became eligible for trading, more than doubling SpaceX’s public float. However, the stock remained resilient, suggesting that selling may have been largely anticipated and that existing shareholders and retail investors were willing to support the shares. SpaceX’s stock is having one of its best days ever with the first lockup expiration now behind it
• Positive Sentiment: Analysts turned more constructive. Argus upgraded SpaceX to Buy and set a $160 price target, citing accelerating AI revenue, cloud contracts and a potential payback period of less than one year for new AI spending. JPMorgan also raised its target, reinforcing the bullish view on SpaceX’s compute opportunity. SpaceX Stock Just Scored a New Buy Rating
• Positive Sentiment: Quarterly growth remains impressive. SpaceX reported revenue of $7.81 billion, up 91.9% year over year, and a smaller-than-expected loss of $0.09 per share. Reports also highlighted $20.8 billion of combined AI cloud contracts, $2.56 billion in AI revenue and continued profitability at Starlink. SpaceX Signed $14.1 Billion of Cloud Contracts in a Single Quarter
• Positive Sentiment: AI infrastructure plans are expanding. SpaceX’s partnership with Nvidia to deploy next-generation hardware in terrestrial and orbital data centers, along with the planned $16.8 billion Terafab chip factory with Tesla, strengthens the company’s long-term AI and compute narrative. SpaceX’s Terafab will rely on natural gas power plants
• Neutral Sentiment: Speculation about a SpaceX-Tesla merger or tracking-stock structure added attention but remains unconfirmed. Jefferies characterized the possibility as uncertain rather than an immediate catalyst. Jefferies weighs in on SpaceX-Tesla merger speculation
• Negative Sentiment: Risks remain substantial. SpaceX is committing roughly $15.8 billion of quarterly capital spending to AI and remains GAAP-loss-making. Additional staged unlocks through December could create further supply, while concerns about contract cancellations, valuation and the execution of Starlink Mobile continue to limit investor conviction.

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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