SpaceX (NASDAQ:SPCX) Price Target Raised to $173.00

SpaceX (NASDAQ:SPCX) had its price objective raised by Susquehanna from $144.00 to $173.00 in a research report report published on Wednesday morning, MarketBeat.com reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also recently commented on SPCX. Sanford C. Bernstein reiterated a “buy” rating on shares of SpaceX in a research report on Monday, September 28th. Stifel Nicolaus began coverage on SpaceX in a research report on Tuesday, July 7th. They issued a “buy” rating and a $190.00 target price for the company. KGI Securities downgraded SpaceX from an “outperform” rating to a “hold” rating in a research note on Monday, June 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of SpaceX in a research report on Monday, September 28th. Finally, Canaccord Genuity Group started coverage on SpaceX in a report on Tuesday, July 7th. They issued a “buy” rating and a $246.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, nine have given a Hold rating and six have 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 $219.77.

SpaceX Price Performance

NASDAQ SPCX opened at $162.57 on Wednesday. The firm has a fifty day moving average of $145.03. SpaceX has a 12 month low of $104.83 and a 12 month high of $225.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. The stock has a market cap of $2.14 trillion and a P/E ratio of -1,806.33.

SpaceX (NASDAQ:SPCX) last announced its quarterly 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 company had revenue of $7.81 billion during the quarter. SpaceX’s revenue was up 91.9% compared to the same quarter last year. As a group, sell-side analysts forecast that SpaceX will post 0.09 earnings per share for the current year.

Insider Buying and Selling at SpaceX

In related news, COO Gwynne Shotwell sold 342,170 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the transaction, the chief operating officer owned 2,472,035 shares of the company’s stock, valued at $379,630,414.95. This trade represents a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Trading of SpaceX

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Syntax Research Inc. purchased a new position in shares of SpaceX in the 2nd quarter valued at approximately $26,000. Atwood & Palmer Inc. purchased a new stake in shares of SpaceX during the second quarter worth approximately $29,000. PayPay Securities Corp purchased a new stake in shares of SpaceX during the second quarter worth approximately $30,000. Marquette Asset Management LLC acquired a new stake in shares of SpaceX during the second quarter worth $32,000. Finally, Hickory Point Bank & Trust acquired a new stake in shares of SpaceX during the third quarter worth $30,000.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: The spectrum purchase—reported at roughly $8 billion by some outlets, although the exact price was not disclosed—could give Starlink Mobile stronger coverage indoors and in dense urban areas where satellites are less effective. The deal also positions SpaceX to compete more directly with AT&T, Verizon and T-Mobile. SpaceX’s low-band spectrum deal gives Starlink Mobile a terrestrial foothold
• Positive Sentiment: Analyst support added to the bullish reaction. Barclays initiated coverage with a Buy rating and a $254 target, while TD Cowen reaffirmed Buy with a $200 target; other analysts highlighted the hybrid satellite-and-terrestrial network strategy. Two Reasons SpaceX Stock Is Jumping Higher Today
• Positive Sentiment: The FCC’s approval of up to 15,000 next-generation Starlink satellites strengthens the company’s long-term direct-to-device opportunity. Investors are also valuing SpaceX’s reported AI-computing demand and potential Nvidia chip purchases as additional growth engines. SpaceX Gets Green Light for 15,000 Starlink Satellites
• Neutral Sentiment: The spectrum transaction remains subject to final FCC approval, and SpaceX still must invest heavily to build a terrestrial network, integrate services and attract wireless customers. The launch of Blue Origin as a future public-company competitor may also increase attention on the space sector. SpaceX Makes Big Play to Become a Wireless Carrier
• Negative Sentiment: Up to approximately $51 billion of insider shares became eligible for sale, creating a potential supply overhang and volatility risk after the recent rally. SpaceX Insider Shares Unlock
• Negative Sentiment: Reports that SpaceX may borrow $40 billion to purchase Nvidia chips continue to raise concerns about leverage, execution and the risk of spending aggressively on an unproven AI infrastructure business despite its substantial cash holdings. SpaceX in Talks to Raise $40 Billion in Loans

SpaceX Company Profile

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 designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX’s primary products and services include the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft and the Starlink satellite internet network. The company also is developing Starship, a fully reusable launch and spacecraft system intended for missions to Earth orbit, the Moon and Mars.