SpaceX (NASDAQ:SPCX) Upgraded to “Strong-Buy” at Phillip Securities

Phillip Securities upgraded shares of SpaceX (NASDAQ:SPCX) from a strong sell rating to a strong-buy rating in a research report sent to investors on Friday,Zacks reports.

A number of other equities analysts also recently commented on SPCX. Evercore restated an “outperform” rating and issued a $275.00 target price on shares of SpaceX in a research note on Friday, October 16th. Erste Group Bank started coverage on SpaceX in a research report on Thursday, October 8th. They set a “hold” rating on the stock. KeyCorp restated a “sector weight” rating on shares of SpaceX in a research report on Wednesday. Daiwa Securities Group initiated coverage on SpaceX in a research note on Thursday, July 2nd. They set a “neutral” rating and a $175.00 price objective for the company. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $245.00 target price on shares of SpaceX in a research report on Wednesday. Four analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $244.19.

SpaceX Stock Performance

NASDAQ SPCX opened at $147.49 on Friday. SpaceX has a one year low of $104.83 and a one year high of $225.64. The firm has a 50-day simple moving average of $149.40. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. The firm has a market cap of $1.94 trillion and a price-to-earnings ratio of -1,638.78.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.25. The business had revenue of $14.57 billion for the quarter. The firm’s revenue was up 161.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.36) earnings per share. Equities analysts forecast that SpaceX will post 0.13 earnings per share for the current year.

Insiders Place Their Bets

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the business’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the completion of the transaction, the chief operating officer owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. The trade was a 12.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Trading of SpaceX

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Aries Wealth Management acquired a new position in shares of SpaceX during the third quarter valued at approximately $740,000. Purewater Capital LLC bought a new stake in SpaceX during the third quarter worth approximately $4,314,000. Sigma Planning Corp lifted its position in SpaceX by 63.1% in the third quarter. Sigma Planning Corp now owns 34,670 shares of the company’s stock worth $5,230,000 after purchasing an additional 13,415 shares during the period. Dedeker Financial LLC lifted its position in SpaceX by 8.0% in the third quarter. Dedeker Financial LLC now owns 1,697 shares of the company’s stock worth $256,000 after purchasing an additional 125 shares during the period. Finally, Straight Path Wealth Management bought a new position in SpaceX during the 3rd quarter valued at $5,584,000.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Strong earnings and AI growth supported the rebound. SpaceX reported third-quarter revenue of $14.58 billion, up 161% year over year, and earnings per share of $0.35 versus analysts’ $0.10 estimate. Its AI segment reportedly generated $431 million in net income, helping offset losses in the launch business. Fantastic News for SpaceX Stock Investors
• Positive Sentiment: Analyst sentiment improved sharply. PhilipCapital upgraded SpaceX from “Sell” to “Buy” and raised its price target from $75 to $250. Bank of America also lifted its target to $275, citing stronger growth prospects and Starship milestones. SpaceX Just Scored a Double Upgrade
• Positive Sentiment: Wireless ambitions broaden the growth story. Reports that SpaceX is seeking access to at least 80,000 U.S. cell sites suggest Starlink could evolve into a nationwide wireless carrier, potentially creating a major new revenue stream. The news pressured telecom stocks while benefiting tower owners. SpaceX Seeks Access to 80,000 US Cell Sites
• Neutral Sentiment: A potential Tesla (NASDAQ: TSLA) merger remains speculative. Elon Musk called the combination a “good idea,” but valuation, conflicts of interest, shareholder approval, antitrust review and Tesla’s China operations could delay or prevent a transaction. SpaceX-Tesla Merger Chatter
• Negative Sentiment: Funding and cash-burn concerns remain significant. SpaceX reportedly burned more than $9.9 billion in free cash flow during the quarter and is raising approximately $40 billion of debt at relatively high interest rates to finance AI and other expansion plans. SpaceX $40 Billion Debt Deal
• Negative Sentiment: Execution and reputational risks could limit upside. The launch division was unprofitable because of heavy research spending, while reports of continuing Starlink restrictions in Ukraine could threaten government relationships and future contracts. In addition, upcoming insider share unlocks may increase supply. Ukraine Says Starlink Restrictions Remain

SpaceX Company Profile

Space Exploration Technologies Corp., commonly known as SpaceX, is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles and spacecraft designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX’s principal products and services include the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starlink satellite communications network. Falcon rockets are used to launch satellites, cargo and crew, while Dragon spacecraft support transportation to and from low Earth orbit.