SpaceX’s (SPCX) “Buy” Rating Reiterated at TD Cowen

TD Cowen reissued their buy rating on shares of SpaceX (NASDAQ:SPCX) in a report published on Friday, Marketbeat.com reports. The firm currently has a $200.00 price target on the stock.

Several other analysts have also recently weighed in on SPCX. Seaport Research Partners cut SpaceX from a “buy” rating to a “neutral” rating in a report on Friday, August 7th. Susquehanna raised their price objective on shares of SpaceX from $144.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, October 7th. Pivotal Research initiated coverage on shares of SpaceX in a research report on Tuesday, September 8th. They set a “buy” rating and a $220.00 target price on the stock. Cfra initiated coverage on shares of SpaceX in a report on Friday, June 12th. They set a “sell” rating and a $115.00 target price on the stock. Finally, Bank of America started coverage on shares of SpaceX in a research report on Tuesday, July 7th. They issued a “buy” rating and a $235.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, SpaceX presently has an average rating of “Moderate Buy” and an average price target of $219.77.

SpaceX Price Performance

NASDAQ SPCX opened at $162.57 on Friday. The firm has a market cap of $2.14 trillion and a P/E ratio of -1,806.33. SpaceX has a twelve month low of $104.83 and a twelve month high of $225.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12. The firm’s fifty day moving average price is $145.03.

SpaceX (NASDAQ:SPCX) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.17. The firm had revenue of $7.81 billion for the quarter. The business’s revenue for the quarter was up 91.9% on a year-over-year basis. On average, research analysts anticipate that SpaceX will post 0.09 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SPCX. SC US Ttgp LTD. acquired a new stake in SpaceX during the second quarter worth approximately $20,933,621,000. Darsana Capital Partners LP bought a new stake in SpaceX in the second quarter worth approximately $17,335,783,000. K5 Global Advisor LLC acquired a new position in SpaceX in the second quarter valued at approximately $6,587,531,000. State Street Corp acquired a new position in SpaceX in the second quarter valued at approximately $1,858,329,000. Finally, Dragoneer Investment Group LLC bought a new position in shares of SpaceX during the 2nd quarter worth approximately $1,366,880,000.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: The spectrum purchase—reported at roughly $8 billion by some outlets, although the exact price was not disclosed—could give Starlink Mobile stronger coverage indoors and in dense urban areas where satellites are less effective. The deal also positions SpaceX to compete more directly with AT&T, Verizon and T-Mobile. SpaceX’s low-band spectrum deal gives Starlink Mobile a terrestrial foothold
• Positive Sentiment: Analyst support added to the bullish reaction. Barclays initiated coverage with a Buy rating and a $254 target, while TD Cowen reaffirmed Buy with a $200 target; other analysts highlighted the hybrid satellite-and-terrestrial network strategy. Two Reasons SpaceX Stock Is Jumping Higher Today
• Positive Sentiment: The FCC’s approval of up to 15,000 next-generation Starlink satellites strengthens the company’s long-term direct-to-device opportunity. Investors are also valuing SpaceX’s reported AI-computing demand and potential Nvidia chip purchases as additional growth engines. SpaceX Gets Green Light for 15,000 Starlink Satellites
• Neutral Sentiment: The spectrum transaction remains subject to final FCC approval, and SpaceX still must invest heavily to build a terrestrial network, integrate services and attract wireless customers. The launch of Blue Origin as a future public-company competitor may also increase attention on the space sector. SpaceX Makes Big Play to Become a Wireless Carrier
• Negative Sentiment: Up to approximately $51 billion of insider shares became eligible for sale, creating a potential supply overhang and volatility risk after the recent rally. SpaceX Insider Shares Unlock
• Negative Sentiment: Reports that SpaceX may borrow $40 billion to purchase Nvidia chips continue to raise concerns about leverage, execution and the risk of spending aggressively on an unproven AI infrastructure business despite its substantial cash holdings. SpaceX in Talks to Raise $40 Billion in Loans

About SpaceX

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

SpaceX’s primary products and services include the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft and the Starlink satellite internet network. The company also is developing Starship, a fully reusable launch and spacecraft system intended for missions to Earth orbit, the Moon and Mars.