SpaceX (NASDAQ:SPCX) Upgraded by Argus to Buy Rating

Argus upgraded shares of SpaceX (NASDAQ:SPCX) from a hold rating to a buy rating in a research report released on Friday morning, MarketBeat reports. Argus currently has $160.00 price target on the stock.

Several other brokerages also recently commented on SPCX. Needham & Company LLC reaffirmed a “buy” rating and set a $250.00 target price on shares of SpaceX in a report on Wednesday. TD Cowen began coverage on SpaceX in a report on Monday, June 22nd. They set a “buy” rating on the stock. New Street Research upgraded shares of SpaceX to a “strong-buy” rating in a report on Thursday, June 11th. Clear Str raised shares of SpaceX to a “strong-buy” rating in a research report on Tuesday, July 7th. Finally, Daiwa Securities Group began coverage on shares of SpaceX in a research report on Thursday, July 2nd. They issued a “neutral” rating and a $175.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $227.31.

SpaceX Trading Up 15.8%

NASDAQ SPCX opened at $133.11 on Friday. SpaceX has a 12 month low of $104.83 and a 12 month high of $225.64. The stock has a 50 day simple moving average of $143.35. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.11 and a current ratio of 5.12.

SpaceX (NASDAQ:SPCX) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.17. The business had revenue of $7.81 billion during the quarter. The company’s revenue for the quarter was up 91.9% on a year-over-year basis. On average, sell-side analysts anticipate that SpaceX will post -0.28 EPS for the current fiscal year.

Institutional Trading of SpaceX

A number of institutional investors have recently bought and sold shares of the company. Hyperion Asset Management Ltd purchased a new stake in shares of SpaceX during the 2nd quarter worth about $201,137,000. Tema ETFs LLC acquired a new position in SpaceX in the second quarter worth approximately $32,037,000. Teamwork Financial Advisors LLC bought a new position in SpaceX during the second quarter valued at approximately $8,027,000. Heck Capital Advisors LLC acquired a new stake in SpaceX in the second quarter valued at approximately $3,768,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in SpaceX in the second quarter valued at approximately $3,383,000.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Lockup pressure was less severe than feared. Approximately 911.5 million shares became eligible for trading, more than doubling SpaceX’s public float. However, the stock remained resilient, suggesting that selling may have been largely anticipated and that existing shareholders and retail investors were willing to support the shares. SpaceX’s stock is having one of its best days ever with the first lockup expiration now behind it
• Positive Sentiment: Analysts turned more constructive. Argus upgraded SpaceX to Buy and set a $160 price target, citing accelerating AI revenue, cloud contracts and a potential payback period of less than one year for new AI spending. JPMorgan also raised its target, reinforcing the bullish view on SpaceX’s compute opportunity. SpaceX Stock Just Scored a New Buy Rating
• Positive Sentiment: Quarterly growth remains impressive. SpaceX reported revenue of $7.81 billion, up 91.9% year over year, and a smaller-than-expected loss of $0.09 per share. Reports also highlighted $20.8 billion of combined AI cloud contracts, $2.56 billion in AI revenue and continued profitability at Starlink. SpaceX Signed $14.1 Billion of Cloud Contracts in a Single Quarter
• Positive Sentiment: AI infrastructure plans are expanding. SpaceX’s partnership with Nvidia to deploy next-generation hardware in terrestrial and orbital data centers, along with the planned $16.8 billion Terafab chip factory with Tesla, strengthens the company’s long-term AI and compute narrative. SpaceX’s Terafab will rely on natural gas power plants
• Neutral Sentiment: Speculation about a SpaceX-Tesla merger or tracking-stock structure added attention but remains unconfirmed. Jefferies characterized the possibility as uncertain rather than an immediate catalyst. Jefferies weighs in on SpaceX-Tesla merger speculation
• Negative Sentiment: Risks remain substantial. SpaceX is committing roughly $15.8 billion of quarterly capital spending to AI and remains GAAP-loss-making. Additional staged unlocks through December could create further supply, while concerns about contract cancellations, valuation and the execution of Starlink Mobile continue to limit investor conviction.

About SpaceX

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.