SpaceX (NASDAQ:SPCX) Raised to “Strong-Buy” at Wedbush

SpaceX (NASDAQ:SPCX) was upgraded by analysts at Wedbush to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other analysts also recently commented on the company. Arete Research set a $401.00 price objective on SpaceX and gave the stock a “buy” rating in a research note on Thursday, June 18th. Benchmark assumed coverage on SpaceX in a research note on Monday, June 22nd. They set a “buy” rating for the company. KeyCorp assumed coverage on SpaceX in a report on Monday, June 22nd. They set a “sector weight” rating on the stock. Oppenheimer upped their price target on shares of SpaceX from $190.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Finally, Argus assumed coverage on shares of SpaceX in a research report on Friday, June 26th. They set a “hold” rating for the company. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and two have assigned 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 price target of $209.43.

SpaceX Stock Performance

Shares of NASDAQ:SPCX opened at $157.54 on Tuesday. SpaceX has a 52 week low of $147.11 and a 52 week high of $225.64.

SpaceX (NASDAQ:SPCX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($1.27) earnings per share for the quarter. The company had revenue of $4.69 billion for the quarter.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Wedbush initiated coverage with a Buy rating and a $190 price target, with Dan Ives arguing SpaceX is evolving into a broader AI and connectivity platform rather than just a rocket company. Article Title
• Positive Sentiment: Several reports highlighted the upcoming Nasdaq-100 addition, which should create significant mechanical buying from index funds and ETFs, supporting demand for the shares. Article Title
• Positive Sentiment: Analysts also pointed to SpaceX’s multi-business structure, especially Starlink and the company’s expanding AI-related ambitions, as reasons the stock could have more upside over time. Article Title
• Neutral Sentiment: Investor attention is also being driven by a rumored AI phone/device prototype and related xAI integration, but these are still speculative and have not yet translated into confirmed revenue. Article Title
• Neutral Sentiment: Short interest has increased, showing that some traders expect more downside after the IPO, which helps explain the stock’s sharp swings. Article Title
• Negative Sentiment: Multiple articles warned that SpaceX’s valuation is stretched, with some analysts and commentators saying the stock is expensive, hard to value, and vulnerable to volatility after its rapid IPO run-up. Article Title
• Negative Sentiment: Some coverage also emphasized execution risk, high debt, and the fact that SpaceX may not be free-cash-flow positive until 2029, which is weighing on sentiment despite the bullish analyst calls. Article Title

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.