SpaceX (NASDAQ:SPCX) Given New $274.00 Price Target at Wells Fargo & Company

SpaceX (NASDAQ:SPCX) had its price objective increased by analysts at Wells Fargo & Company from $214.00 to $274.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company’s target price would indicate a potential upside of 65.96% from the stock’s previous close.

A number of other equities research analysts also recently commented on SPCX. Canaccord Genuity Group started coverage on SpaceX in a research report on Tuesday, July 7th. They issued a “buy” rating and a $246.00 target price on the stock. Erste Group Bank began coverage on SpaceX in a report on Thursday, October 8th. They set a “hold” rating for the company. CLSA began coverage on SpaceX in a research report on Monday, September 28th. They set an “outperform” rating and a $250.00 price objective for the company. Wedbush started coverage on shares of SpaceX in a report on Tuesday, June 30th. They issued an “outperform” rating and a $190.00 price objective on the stock. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of SpaceX in a research note on Wednesday, October 14th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $233.50.

SpaceX Trading Up 11.7%

SPCX stock traded up $17.31 during trading on Wednesday, reaching $165.10. 51,272,590 shares of the stock were exchanged, compared to its average volume of 100,088,102. The company has a quick ratio of 4.99, a current ratio of 5.12 and a debt-to-equity ratio of 0.29. The stock has a 50 day simple moving average of $148.92. SpaceX has a 1 year low of $104.83 and a 1 year high of $225.64. The stock has a market cap of $2.18 trillion and a price-to-earnings ratio of -1,834.82.

SpaceX (NASDAQ:SPCX) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.25. The firm had revenue of $14.57 billion during the quarter. SpaceX’s revenue for the quarter was up 161.4% on a year-over-year basis. During the same period last year, the business posted ($0.36) earnings per share. On average, research analysts anticipate that SpaceX will post 0.07 EPS for the current year.

Insider Buying and Selling at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of the company’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Inflows and Outflows

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

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Strong Q3 results: SpaceX reported $14.58 billion in revenue, up 161% year over year, and earnings per share of $0.35 versus the $0.10 consensus estimate. The company swung to approximately $4.4 billion in net income from a year-earlier loss. SpaceX quarterly revenue jumps, beats estimates as AI business surges
• Positive Sentiment: AI and Starlink are scaling rapidly: The Super Intelligence segment generated about $7.56 billion in revenue, surpassing Starlink, while Connectivity revenue reached roughly $5.25 billion. Starlink subscribers grew to 13.6 million, reinforcing the company’s recurring-revenue base.
• Positive Sentiment: Improved forward visibility: Management cited a $63 billion backlog and guided to $33 billion-$37 billion in first-quarter 2027 revenue. Analysts also raised targets, including TD Cowen to $224 with a buy rating, Needham to $250 with a buy rating and Susquehanna to $176 with a neutral rating.
• Positive Sentiment: Merger speculation adds a catalyst: SpaceX and Tesla formed independent committees to evaluate a potential combination. Elon Musk called the idea attractive, although he is excluded from negotiations because of conflicts of interest. A merger could combine SpaceX’s AI and satellite infrastructure with Tesla’s vehicles, robots and data.
• Neutral Sentiment: Execution remains critical: SpaceX plans approximately $35 billion-$40 billion of fourth-quarter capital expenditures to expand AI computing, Starlink and Starship. Revenue is growing faster than spending, but the scale of investment leaves little room for execution errors.
• Negative Sentiment: Cash-flow and dilution concerns: Reports highlight substantial AI infrastructure spending, potential additional debt financing and a possible release of more than $180 billion in insider-held shares as lockups expire. Increased supply could pressure the stock and dilute existing holders.
• Negative Sentiment: Reputational risk: Reports that Musk ordered a slowdown of Starlink service used by Ukraine’s military could increase political, regulatory and customer-related risks for SpaceX.

SpaceX Company Profile

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.