SpaceX (NASDAQ:SPCX) Shares Up 5.7% Following Analyst Upgrade

SpaceX (NASDAQ:SPCX) shares rose 5.7% on Monday after Phillip Securities upgraded the stock to a strong sell rating. The company traded as high as $114.92 and last traded at $114.53. Approximately 68,996,720 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 101,795,906 shares. The stock had previously closed at $108.37.

A number of other research analysts have also recently weighed in on SPCX. Argus began coverage on shares of SpaceX in a research note on Friday, June 26th. They set a “hold” rating on the stock. Cfra started coverage on SpaceX in a research note on Friday, June 12th. They issued a “sell” rating and a $115.00 price target for the company. Needham & Company LLC boosted their price objective on SpaceX from $200.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Mizuho started coverage on SpaceX in a research note on Tuesday, July 7th. They issued an “outperform” rating and a $200.00 price objective for the company. Finally, Evercore started coverage on SpaceX in a research note on Tuesday, July 14th. They set an “outperform” rating and a $230.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $229.39.

SpaceX News Roundup

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 EPS loss of $0.09 also beat the expected $0.26 loss. Starlink remained the primary earnings driver, while AI-cloud contracts with customers including Anthropic and Google supported growth. Reuters earnings report
• Positive Sentiment: Management outlined aggressive long-term targets, including a $100 billion annualized revenue run rate by December and $1 trillion in annual revenue by 2030. SpaceX also expects Starlink expansion and AI-compute demand to accelerate. SpaceX revenue targets
• Positive Sentiment: Several analysts remained bullish despite the selloff. Bank of America maintained a Buy rating and $235 target, while Needham and Cantor Fitzgerald reiterated Buy or Overweight ratings with targets near $250. Analyst reaction
• Positive Sentiment: A $1.6 billion Pentagon contract and plans to expand Starlink Mobile into broader wireless services could add substantial future revenue and challenge traditional carriers. Pentagon contract
• Neutral Sentiment: Elon Musk said SpaceX will use Nvidia chips exclusively for its AI buildout. The decision benefits Nvidia but underscores how dependent SpaceX’s expansion is on continued investment in expensive computing infrastructure. Nvidia endorsement
• Negative Sentiment: Capital expenditures surged to approximately $18.4 billion, including about $15.8 billion for AI infrastructure. The scale of spending, combined with widening losses in AI and space operations and concerns about substantial cash burn, overshadowed the revenue and earnings beats. AI spending concerns
• Negative Sentiment: As many as 912 million employee and pre-IPO shares become eligible for sale on August 6. The potential increase in the public float is creating supply concerns and could add volatility. SpaceX lockup expiry
• Negative Sentiment: SpaceX also disclosed an unrealized $540 million loss on its Bitcoin holdings, adding to investor concerns about cash deployment and financial volatility. Bitcoin loss

Institutional Trading of SpaceX

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

SpaceX Price Performance

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) 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 firm’s quarterly revenue was up 91.9% on a year-over-year basis.

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.