SpaceX (NASDAQ:SPCX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of SpaceX (NASDAQ:SPCX) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $161.25.

Several research firms have issued reports on SPCX. KGI Securities initiated coverage on shares of SpaceX in a research note on Thursday, June 11th. They set an “outperform” rating on the stock. Wolfe Research initiated coverage on shares of SpaceX in a report on Friday. They issued an “outperform” rating and a $175.00 target price on the stock. Zacks Research upgraded SpaceX to a “hold” rating in a research note on Monday. Cfra began coverage on SpaceX in a research report on Friday, June 12th. They set a “sell” rating and a $115.00 price objective for the company. Finally, New Street Research raised SpaceX to a “strong-buy” rating in a report on Thursday, June 11th.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX announced a $60 billion stock deal to acquire Cursor-maker Anysphere, boosting its AI strategy and giving investors another reason to bid up the newly public shares. SpaceX to acquire the AI coding startup Cursor for $60 billion
• Positive Sentiment: Options on SpaceX began trading with unusually heavy volume, signaling strong speculative demand and potential volatility-driven upside as traders rush into calls. Options on SpaceX shares start trading
• Positive Sentiment: Momentum remains strong after SpaceX’s historic IPO, with the stock continuing to attract inflows from retail traders, ETFs, and passive funds looking for exposure to the new mega-cap name. Overnight price spike sees SpaceX overtake Amazon as America’s fifth-largest company
• Neutral Sentiment: The company’s soaring valuation has also sparked a wave of commentary about whether SpaceX is becoming a meme-stock-style trade driven more by sentiment and derivatives than fundamentals. Technical factors are adding fuel to SpaceX’s meme stock fire
• Negative Sentiment: CFRA initiated a rare Sell rating, arguing SpaceX’s AI ambitions are being valued too aggressively and that the stock may be ahead of itself after the rapid post-IPO run. SpaceX’s First Wall Street Bear Just Placed A Sell Rating
• Negative Sentiment: Michael Burry said he is tempted to bet against SpaceX, highlighting growing skepticism about the company’s near-$3 trillion valuation. Michael Burry says he’s tempted to bet against SpaceX

SpaceX Stock Performance

Shares of SPCX opened at $201.80 on Wednesday. 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) earnings per share (EPS) for the quarter. The firm had revenue of $4.69 billion during the quarter.

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.