SpaceX (NASDAQ:SPCX) Earns Outperform Rating from Royal Bank Of Canada

SpaceX (NASDAQ:SPCX)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Royal Bank Of Canada in a report issued on Monday,Benzinga reports. They currently have a $225.00 price objective on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 101.12% from the stock’s current price.

Several other research firms have also commented on SPCX. Morgan Stanley reissued an “overweight” rating on shares of SpaceX in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft began coverage on shares of SpaceX in a report on Tuesday, July 7th. They set a “buy” rating and a $255.00 target price on the stock. Wolfe Research assumed coverage on shares of SpaceX in a research report on Friday, June 12th. They issued an “outperform” rating and a $175.00 price target for the company. Wall Street Zen downgraded shares of SpaceX from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Finally, Susquehanna began coverage on SpaceX in a research note on Tuesday, June 23rd. They issued a “neutral” rating and a $170.00 price objective on the stock. Four investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $230.50.

SpaceX Stock Performance

Shares of SPCX traded up $3.51 during midday trading on Monday, hitting $111.88. 22,353,907 shares of the stock were exchanged, compared to its average volume of 100,413,992. SpaceX has a 52-week low of $104.83 and a 52-week high of $225.64.

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

Hedge Funds Weigh In On SpaceX

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

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Some analysts believe investors are focusing too heavily on governance concerns and missing SpaceX’s long-term growth potential. Bullish forecasts point to a possible rise toward $128, supported by Starlink expansion, reusable rockets and growing launch demand. Jeffries says investors are missing the bigger picture
• Positive Sentiment: Investor Cathie Wood is buying the decline, citing the potential for reusable rockets and Starlink’s satellite broadband network to produce substantial long-term profits. Cathie Wood is buying SpaceX stock
• Positive Sentiment: A recent Falcon 9 launch deployed 24 Starlink satellites, highlighting continued execution and network expansion. SpaceX is also planning a potential launch facility in coastal Louisiana, which could expand future capacity. SpaceX launches 24 Starlink satellites
• Neutral Sentiment: Tuesday’s earnings will provide the first public look at revenue, margins, cash flow and guidance. Investors are particularly focused on whether Starlink profits can fund rapidly increasing spending on artificial intelligence, Starship and other space ventures. SpaceX results put AI spending under scrutiny
• Neutral Sentiment: SpaceX’s addition to the Nasdaq-100 may support visibility and index-related demand, although its current weighting is relatively small. SpaceX joins the Nasdaq-100
• Negative Sentiment: Bearish sentiment is intensifying: short sellers reportedly have built a $24.6 billion position, while a highly ranked analyst recommends selling SPCX ahead of earnings. Short sellers build a large SpaceX position
• Negative Sentiment: Investors continue to question Elon Musk’s control, related-party decisions and SpaceX’s governance structure. Concerns could weigh on the valuation if management does not address them during the earnings call. Investors question SpaceX governance
• Negative Sentiment: A potential insider lockup expiration on August 6 could add share supply and create further selling pressure immediately after the earnings report. SpaceX’s high valuation also leaves limited room for disappointing growth or profitability guidance. Numbers that will define SpaceX valuation

SpaceX Company Profile

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.