SpaceX (NASDAQ:SPCX) Stock Rating Reaffirmed as “Buy” by Needham & Company LLC

SpaceX (NASDAQ:SPCX)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a note issued to investors on Wednesday, Benzinga reports. They currently have a $250.00 target price on the stock. Needham & Company LLC‘s price target points to a potential upside of 53.99% from the company’s current price.

A number of other research analysts have also commented on the stock. UBS Group restated an “overweight” rating and set a $300.00 price target on shares of SpaceX in a research report on Wednesday. JPMorgan Chase & Co. restated a “buy” rating on shares of SpaceX in a research report on Tuesday, August 25th. Wall Street Zen lowered shares of SpaceX from a “hold” rating to a “sell” rating in a research report on Saturday, October 3rd. Bank of America began coverage on shares of SpaceX in a research report on Tuesday, July 7th. They set a “buy” rating and a $235.00 price target for the company. Finally, Weiss Ratings began coverage on shares of SpaceX in a research report on Tuesday, September 1st. They set a “sell (d)” rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, SpaceX has an average rating of “Moderate Buy” and an average target price of $234.33.

SpaceX Trading Up 9.9%

Shares of SPCX traded up $14.56 during mid-day trading on Wednesday, reaching $162.35. 128,400,072 shares of the stock traded hands, compared to its average volume of 101,234,789. The business has a fifty day simple moving average of $148.92. The firm has a market cap of $2.14 trillion and a P/E ratio of -1,805.33. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29. SpaceX has a 1 year low of $104.83 and a 1 year high of $225.64.

SpaceX (NASDAQ:SPCX) last released its quarterly earnings results on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.25. The firm had revenue of $14.58 billion for the quarter. SpaceX’s quarterly revenue was up 161.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.36) EPS. On average, sell-side analysts anticipate that SpaceX will post 0.07 EPS for the current year.

Insider Transactions at SpaceX

In related news, COO Gwynne Shotwell sold 342,170 shares of the company’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total value of $52,547,046.90. Following the completion of the transaction, the chief operating officer directly owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. The trade was a 12.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPCX. Syntax Research Inc. purchased a new position in SpaceX in the second quarter worth $26,000. Atwood & Palmer Inc. bought a new stake in SpaceX in the second quarter worth $29,000. PayPay Securities Corp bought a new stake in SpaceX in the second quarter worth $30,000. Hickory Point Bank & Trust bought a new stake in SpaceX in the third quarter worth $30,000. Finally, Maryland Capital Advisors Inc. bought a new stake in SpaceX in the third quarter worth $30,000.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX reported third-quarter revenue of approximately $14.58 billion, up 161% year over year and well above analyst expectations. Earnings were $0.35 per share versus a $0.10 consensus estimate, marking a swing from a year-earlier loss. SpaceX quarterly revenue report
• Positive Sentiment: The Super Intelligence AI business became SpaceX’s largest segment, generating roughly $7.56 billion in revenue, while management said new computing deployments are currently paying back in less than one year. SpaceX plans to add at least 10 gigawatts of AI capacity in 2027. SpaceX AI infrastructure payback
• Positive Sentiment: Starlink remains an important cash generator, with connectivity revenue of about $5.25 billion, 13.6 million consumer subscribers and strong enterprise and government growth. The company also reported a $63 billion backlog and forecast first-quarter 2027 revenue of $33 billion to $37 billion. SpaceX backlog and financial results
• Positive Sentiment: Analysts raised their expectations after the report. TD Cowen raised its price target to $224 with a buy rating, while Needham maintained a buy rating and a $250 target; Wells Fargo raised its target to $274 and rated the shares overweight.
• Neutral Sentiment: Elon Musk said SpaceX and Tesla formed independent committees to explore a potential merger and described the combination as attractive. However, no transaction has been agreed upon, Musk cannot participate in the discussions because of conflicts, and shareholder and regulatory approvals would be required. SpaceX and Tesla merger committees
• Negative Sentiment: Investors remain concerned about the cost of growth. SpaceX spent roughly $19.6 billion on third-quarter capital expenditures and expects fourth-quarter spending of $35 billion to $40 billion, while some reports cited substantial year-to-date negative free cash flow and potential additional borrowing for AI chips.
• Negative Sentiment: Starlink subscriber growth reportedly missed expectations, upcoming insider lockup expirations could increase selling pressure, and reports about restrictions on Starlink service in Ukraine create additional regulatory and reputational risk.

About SpaceX

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.