SpaceX (NASDAQ:SPCX) Price Target Raised to $275.00

SpaceX (NASDAQ:SPCX) had its price objective raised by Bank of America from $235.00 to $275.00 in a research note published on Thursday morning, MarketBeat.com reports. The firm currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. William Blair reaffirmed an “outperform” rating on shares of SpaceX in a research report on Friday, October 9th. DZ Bank assumed coverage on SpaceX in a research report on Friday, August 21st. They issued a “sell” rating and a $100.00 target price for the company. Wedbush started coverage on SpaceX in a research note on Tuesday, June 30th. They issued an “outperform” rating and a $190.00 target price for the company. Cantor Fitzgerald lifted their price target on SpaceX from $246.00 to $345.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $235.00 price target on shares of SpaceX in a research note on Monday, September 28th. Four investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $244.19.

SpaceX Trading Up 1.9%

Shares of SPCX opened at $147.49 on Thursday. The company’s 50-day moving average is $149.40. The company has a market cap of $1.94 trillion and a price-to-earnings ratio of -1,638.78. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. SpaceX has a 1-year low of $104.83 and a 1-year high of $225.64.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.25. The company had revenue of $14.57 billion for the quarter. During the same quarter in the prior year, the company earned ($0.36) EPS. SpaceX’s revenue for the quarter was up 161.4% compared to the same quarter last year. On average, research analysts forecast that SpaceX will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Gwynne Shotwell sold 342,170 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer owned 2,472,035 shares of the company’s stock, valued at $379,630,414.95. The trade was a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hedge Funds Weigh In On SpaceX

A number of institutional investors and hedge funds have recently made changes to their positions in SPCX. Apollon Wealth Management LLC lifted its holdings in shares of SpaceX by 102.0% during the third quarter. Apollon Wealth Management LLC now owns 84,579 shares of the company’s stock valued at $12,760,000 after purchasing an additional 42,710 shares during the last quarter. Aries Wealth Management bought a new stake in shares of SpaceX in the 3rd quarter worth approximately $740,000. Purewater Capital LLC purchased a new stake in shares of SpaceX in the 3rd quarter worth approximately $4,314,000. Sigma Planning Corp grew its stake in shares of SpaceX by 63.1% in the 3rd quarter. Sigma Planning Corp now owns 34,670 shares of the company’s stock worth $5,230,000 after buying an additional 13,415 shares during the last quarter. Finally, Dedeker Financial LLC grew its stake in shares of SpaceX by 8.0% in the 3rd quarter. Dedeker Financial LLC now owns 1,697 shares of the company’s stock worth $256,000 after buying an additional 125 shares during the last quarter.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Strong earnings and AI growth supported the rebound. SpaceX reported third-quarter revenue of $14.58 billion, up 161% year over year, and earnings per share of $0.35 versus analysts’ $0.10 estimate. Its AI segment reportedly generated $431 million in net income, helping offset losses in the launch business. Fantastic News for SpaceX Stock Investors
• Positive Sentiment: Analyst sentiment improved sharply. PhilipCapital upgraded SpaceX from “Sell” to “Buy” and raised its price target from $75 to $250. Bank of America also lifted its target to $275, citing stronger growth prospects and Starship milestones. SpaceX Just Scored a Double Upgrade
• Positive Sentiment: Wireless ambitions broaden the growth story. Reports that SpaceX is seeking access to at least 80,000 U.S. cell sites suggest Starlink could evolve into a nationwide wireless carrier, potentially creating a major new revenue stream. The news pressured telecom stocks while benefiting tower owners. SpaceX Seeks Access to 80,000 US Cell Sites
• Neutral Sentiment: A potential Tesla (NASDAQ: TSLA) merger remains speculative. Elon Musk called the combination a “good idea,” but valuation, conflicts of interest, shareholder approval, antitrust review and Tesla’s China operations could delay or prevent a transaction. SpaceX-Tesla Merger Chatter
• Negative Sentiment: Funding and cash-burn concerns remain significant. SpaceX reportedly burned more than $9.9 billion in free cash flow during the quarter and is raising approximately $40 billion of debt at relatively high interest rates to finance AI and other expansion plans. SpaceX $40 Billion Debt Deal
• Negative Sentiment: Execution and reputational risks could limit upside. The launch division was unprofitable because of heavy research spending, while reports of continuing Starlink restrictions in Ukraine could threaten government relationships and future contracts. In addition, upcoming insider share unlocks may increase supply. Ukraine Says Starlink Restrictions Remain

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.