SpaceX (NASDAQ:SPCX) Trading 2.6% Higher – Still a Buy?

SpaceX (NASDAQ:SPCX)’s stock price shot up 2.6% during mid-day trading on Thursday . The stock traded as high as $156.87 and last traded at $154.81. 83,089,089 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 103,186,688 shares. The stock had previously closed at $150.88.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Starship launch is the main near-term catalyst. SpaceX is targeting September 22 for Starship’s 14th test flight and first attempt to reach orbit. The mission could deploy Starlink V3 satellites, making the test more commercially relevant. A successful flight could improve confidence in reusable launch economics, Starlink expansion and future revenue from orbital infrastructure. SpaceX’s First Orbital Starship Flight Is Targeted for Sept. 22
• Positive Sentiment: AI and compute demand are strengthening the growth story. Management says a new compute-hosting deal, including business from xAI, puts SpaceX closer to its goal of $100 billion in annual recurring revenue. Investors are increasingly valuing the company not only for rockets and Starlink, but also for AI infrastructure and potential space-based data centers. SpaceX CFO: New Compute Deal Puts Company Closer to $100B ARR Goal
• Positive Sentiment: Defense momentum adds another support. Classified launches for the U.S. Space Force, Starshield contracts and reported defense awards totaling about $8.05 billion are highlighting SpaceX’s position in national-security space programs, including the planned Golden Dome initiative. Space Weapons Put SPCX in Market Spotlight
• Neutral Sentiment: Analyst optimism is boosting sentiment but remains highly speculative. Cathie Wood and Ron Baron have presented extremely bullish long-term projections for Starship, Starlink and AI, including multitrillion-dollar revenue possibilities. Those forecasts are not company guidance and depend on unproven launch frequency, demand and monetization assumptions. A $10 Trillion Reason Why SpaceX Stock Is Up Today
• Negative Sentiment: Upcoming share unlocks could increase selling pressure. Approximately 328 million shares are expected to become eligible for sale on September 24. Even if insiders and early investors do not sell aggressively, the larger available float could increase volatility and weigh on the stock. SpaceX’s Next Share Unlock Is Coming
• Negative Sentiment: Valuation and execution risks remain substantial. SpaceX’s roughly $2 trillion market capitalization leaves limited room for disappointment, while Starship has yet to reach orbit. Concerns about a possible slowdown in AI development and practical obstacles to space-based data centers could challenge the current growth premium. A trademark dispute over the “Terafab” name for the planned $16.8 billion AI-chip facility is an additional, though relatively minor, legal risk.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Arete Research set a $450.00 price target on SpaceX in a report on Tuesday, August 11th. Zacks Research raised shares of SpaceX to a “hold” rating in a research report on Monday, June 15th. KGI Securities cut shares of SpaceX from an “outperform” rating to a “hold” rating in a research report on Monday, June 22nd. Clear Str upgraded shares of SpaceX to a “strong-buy” rating in a research report on Tuesday, July 7th. Finally, Guggenheim assumed coverage on SpaceX in a research note on Friday, August 7th. They set a “buy” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have issued a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat, SpaceX has an average rating of “Moderate Buy” and an average target price of $221.42.

SpaceX Price Performance

The company has a 50-day moving average price of $134.49. 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 company has a market cap of $2.02 trillion and a P/E ratio of -1,719.56.

SpaceX (NASDAQ:SPCX) last released its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.17. The firm had revenue of $7.81 billion for the quarter. SpaceX’s quarterly revenue was up 91.9% on a year-over-year basis. Sell-side analysts anticipate that SpaceX will post -0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SPCX. Syntax Research Inc. bought a new stake in shares of SpaceX in the 2nd quarter valued at $26,000. Atwood & Palmer Inc. bought a new stake in SpaceX in the second quarter valued at $29,000. PayPay Securities Corp acquired a new position in shares of SpaceX during the second quarter valued at about $30,000. Marquette Asset Management LLC bought a new position in shares of SpaceX during the 2nd quarter worth about $32,000. Finally, Community Bank N.A. acquired a new stake in shares of SpaceX in the 2nd quarter valued at about $38,000.

About SpaceX

Space Exploration Technologies Corp. (SpaceX) is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles, spacecraft and satellite systems, serving commercial, government and scientific customers.

SpaceX’s principal products include the Falcon 9 and Falcon Heavy rockets, which are used to launch satellites, spacecraft and other payloads into orbit. The company also develops the Dragon spacecraft, which supports cargo and crew missions to low Earth orbit, including missions for NASA and other customers.

Through its Starlink business, SpaceX operates a large constellation of low Earth orbit satellites that provides broadband internet service to customers in numerous countries and regions.