SpaceX (NASDAQ:SPCX) Trading Up 15.8% Following Analyst Upgrade

SpaceX (NASDAQ:SPCX) shot up 15.8% on Friday after Argus upgraded the stock from a hold rating to a buy rating. Argus now has a $160.00 price target on the stock. SpaceX traded as high as $133.48 and last traded at $133.11. 237,684,429 shares changed hands during trading, an increase of 110% from the average session volume of 113,126,078 shares. The stock had previously closed at $114.92.

Other equities analysts have also recently issued research reports about the stock. TD Cowen initiated coverage on shares of SpaceX in a research note on Monday, June 22nd. They issued a “buy” rating on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $225.00 target price on shares of SpaceX in a report on Monday. Sanford C. Bernstein set a $248.00 price target on shares of SpaceX in a research report on Thursday. UBS Group reiterated a “buy” rating on shares of SpaceX in a research note on Wednesday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $246.00 price objective on shares of SpaceX in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, SpaceX currently has a consensus rating of “Moderate Buy” and an average target price of $227.31.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: AI and cloud momentum drove optimism. SpaceX reportedly secured up to $20.8 billion in AI cloud contracts, including a $6.7 billion agreement, while AI revenue more than tripled to approximately $2.56 billion. The contracts improve revenue visibility and support the company’s strategy to become a major computing provider. SpaceX Expands AI Cloud Business With $20.8 Billion in New Contracts
• Positive Sentiment: Quarterly results exceeded expectations. Revenue rose 91.9% year over year to $7.81 billion, and the quarterly loss of $0.09 per share was narrower than analysts expected. Starlink remains profitable, subscribers reportedly doubled to 12 million, and government and enterprise connectivity revenue continued to grow. Why SpaceX Stock Is Rising
• Positive Sentiment: Analyst support strengthened. Argus upgraded SpaceX to “buy” with a $160 price target, while JPMorgan and other firms raised targets or maintained bullish ratings. Investors are increasingly valuing SpaceX as an integrated space, connectivity and AI infrastructure company rather than solely as a rocket maker. Argus Upgrades SpaceX to Buy
• Neutral Sentiment: The lockup event was less disruptive than feared. Approximately 911 million shares became eligible for trading, more than doubling the public float. However, the stock held up as investors absorbed the supply and some shares remained restricted because performance-based conditions were not met. Additional unlocks through December remain an overhang. SpaceX Stock After Lockup Expiration
• Negative Sentiment: Heavy spending limits the bullish case. SpaceX spent roughly $18.4 billion during the quarter, including $15.8 billion on AI infrastructure, and remains GAAP-loss-making. Investors also face execution risk from the $16.8 billion Terafab project, uncertain cloud-contract economics and competition for Starlink Mobile from established wireless carriers.

Hedge Funds Weigh In On SpaceX

Institutional investors have recently bought and sold shares of the stock. Atwood & Palmer Inc. purchased a new position in SpaceX during the 2nd quarter valued at approximately $29,000. Marquette Asset Management LLC purchased a new stake in shares of SpaceX during the 2nd quarter worth approximately $32,000. Burkett Financial Services LLC bought a new position in shares of SpaceX during the 2nd quarter valued at approximately $70,000. Contravisory Investment Management Inc. purchased a new position in shares of SpaceX in the second quarter valued at $73,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in SpaceX in the second quarter worth $89,000.

SpaceX Stock Up 15.8%

The company has a debt-to-equity ratio of 0.83, a current ratio of 1.22 and a quick ratio of 1.11.

SpaceX (NASDAQ:SPCX) last posted its quarterly earnings data 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 during the quarter. SpaceX’s revenue for the quarter was up 91.9% compared to the same quarter last year. Research analysts forecast that SpaceX will post -0.64 earnings per share for the current year.

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.