SpaceX (NASDAQ:SPCX) Rating Increased to Strong-Buy at Arete Research

Arete Research upgraded shares of SpaceX (NASDAQ:SPCX) to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other research firms also recently commented on SPCX. Wolfe Research started coverage on SpaceX in a research report on Friday, June 12th. They set an “outperform” rating and a $175.00 target price on the stock. Oppenheimer lifted their price target on SpaceX from $190.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday. New Street Research upgraded shares of SpaceX to a “strong-buy” rating in a research report on Thursday, June 11th. Zacks Research raised shares of SpaceX to a “hold” rating in a research note on Monday. Finally, 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 for the company. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $221.20.

SpaceX Stock Down 3.6%

Shares of SpaceX stock opened at $185.00 on Thursday. SpaceX has a 12-month low of $149.34 and a 12-month high of $225.64.

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

Insiders Place Their Bets

In other news, CEO Elon Musk sold 11,390 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $105.32, for a total value of $1,199,594.80. Following the completion of the transaction, the chief executive officer directly owned 526,165,900 shares of the company’s stock, valued at $55,415,792,588. The trade was a 0.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX’s IPO remains one of the biggest market events in years, with the stock still well above its $135 offer price and its market cap rapidly climbing. That momentum is being fueled by heavy retail interest, record options activity, and broad discussion of SpaceX as a potential long-term megacap winner. Musk’s SpaceX stake is worth over $1 trillion. Here are the other billionaire shareholders
• Positive Sentiment: Investors are also reacting to SpaceX’s expansion beyond rockets, including its $60 billion acquisition of AI coding startup Cursor and commentary that the company is building a broader AI and space infrastructure platform. That has helped support the bull case despite the rich valuation. SpaceX gets investment-grade ratings with stable outlook from top agencies
• Positive Sentiment: SpaceX also received investment-grade credit ratings with stable outlooks from Moody’s, Fitch, and S&P, which helps validate the company’s balance sheet and may reduce worries about financing growth plans. Here are the odds of SpaceX becoming the world’s most valuable company
• Neutral Sentiment: Several articles note that SpaceX is now trading like a momentum or “meme-like” stock, with huge swings, strong ETF inclusion, and intense debate over whether the valuation is justified. This keeps trading interest high, but it also adds uncertainty. SpaceX shares tumble as post-IPO frenzy loses steam
• Negative Sentiment: The main near-term pressure on SpaceX stock is profit-taking after its explosive debut. Multiple reports say shares have cooled from recent highs as investors worry the valuation has moved too far, too fast, and as reports emerged of a possible large bond sale to fund future spending. SpaceX stock falls 3% as IPO euphoria cools amid AI expansion costs

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.