SpaceX (NASDAQ:SPCX) Rating Lowered to Sell at Wall Street Zen

SpaceX (NASDAQ:SPCX) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other brokerages also recently issued reports on SPCX. Piper Sandler assumed coverage on shares of SpaceX in a research report on Wednesday, July 15th. They issued a “neutral” rating and a $156.00 price objective for the company. Moffett Nathanson started coverage on shares of SpaceX in a research report on Tuesday, July 7th. They set a “neutral” rating and a $131.00 target price on the stock. Benchmark began coverage on shares of SpaceX in a research note on Monday, June 22nd. They issued a “buy” rating for the company. Cantor Fitzgerald began coverage on shares of SpaceX in a report on Tuesday, July 7th. They set an “overweight” rating and a $246.00 price target for the company. Finally, The Goldman Sachs Group started coverage on shares of SpaceX in a research note on Tuesday, July 7th. They set a “buy” rating and a $205.00 price target on the stock. Four investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $230.50.

SpaceX Stock Performance

Shares of NASDAQ SPCX opened at $115.07 on Friday. SpaceX has a 1-year low of $110.85 and a 1-year high of $225.64.

SpaceX (NASDAQ:SPCX) last announced its earnings results on Thursday, May 7th. The company reported ($1.27) EPS for the quarter. The company had revenue of $4.69 billion during the quarter.

Hedge Funds Weigh In On SpaceX

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

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX is attempting to launch 20 Starlink V3 satellites and its delayed Starship Flight 13, and a successful mission could restore confidence in the company’s launch cadence, lower future launch costs, and support Starlink’s growth narrative. Article Title
• Positive Sentiment: Alphabet’s disclosed $94 billion SpaceX stake and ongoing high monthly cloud-compute spending underscore strong strategic interest from a major tech partner, which investors may view as validation of SpaceX’s long-term AI and infrastructure ambitions. Article Title
• Neutral Sentiment: SpaceX is reportedly scouting Texas sites for AI data centers, reinforcing the company’s broader growth optionality beyond rockets, but the market is still waiting for concrete details before assigning much value. Article Title
• Negative Sentiment: HSBC initiated coverage with a Hold rating and a price target below the IPO price, adding to worries that the “Musk premium” may already be fully priced in. Article Title
• Negative Sentiment: Repeated Starship delays due to weather and recent test setbacks have pressured sentiment, since the stock’s near-term trading is closely tied to whether SpaceX can execute on its most visible catalyst. Article Title
• Negative Sentiment: Investors are also focused on an upcoming lockup expiration that could add supply to the market, while short interest and bearish commentary suggest more volatility ahead for SpaceX (NASDAQ: SPCX). 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.