SpaceX (NASDAQ:SPCX) Earns Buy Rating from Analysts at Canaccord Genuity Group

Research analysts at Canaccord Genuity Group started coverage on shares of SpaceX (NASDAQ:SPCX) in a report released on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $246.00 price target on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 61.27% from the stock’s previous close.

Several other brokerages also recently issued reports on SPCX. Raymond James Financial started coverage on SpaceX in a research report on Tuesday. They issued a “strong-buy” rating on the stock. The Goldman Sachs Group initiated coverage on SpaceX in a research report on Tuesday. They set a “buy” rating and a $205.00 price objective for the company. KeyCorp started coverage on SpaceX in a report on Monday, June 22nd. They set a “sector weight” rating for the company. Morgan Stanley initiated coverage on shares of SpaceX in a report on Tuesday. They issued an “overweight” rating and a $300.00 price target for the company. Finally, Wells Fargo & Company assumed coverage on SpaceX in a report on Tuesday. They issued an “overweight” rating and a $230.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.75.

SpaceX Price Performance

Shares of NASDAQ:SPCX traded down $7.88 during trading on Tuesday, reaching $152.54. The stock had a trading volume of 13,243,159 shares, compared to its average volume of 145,049,766. SpaceX has a 52 week low of $147.11 and a 52 week high of $225.64.

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

Hedge Funds Weigh In On SpaceX

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Burkett Financial Services LLC acquired a new stake in shares of SpaceX in the second quarter valued at $70,000. Dogwood Wealth Management LLC acquired a new position in SpaceX during the 2nd quarter worth about $139,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new stake in SpaceX in the 2nd quarter valued at about $566,000.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX officially joins the Nasdaq-100 today, which should trigger mandatory buying from index funds and ETFs tracking the benchmark. Analysts and recent coverage suggest this could create meaningful near-term demand for the stock. SpaceX Joins the Nasdaq 100 Index Today—Here’s Why That Matters to Stock Investors
• Positive Sentiment: A flood of new Wall Street coverage was overwhelmingly bullish, with major firms including Morgan Stanley, Goldman Sachs, JPMorgan, UBS, Wells Fargo, Citigroup, Bank of America, Deutsche Bank, Cantor Fitzgerald, Stifel, Needham, RBC, Sanford C. Bernstein, and William Blair issuing buy/overweight/outperform calls and high price targets. SpaceX Joins the Nasdaq-100 Today — and Wall Street Finally Gets to Speak
• Positive Sentiment: Bullish commentary also highlighted SpaceX as a preferred Musk stock versus Tesla, while investors like Cathie Wood’s Ark Invest reportedly bought the dip, reinforcing sentiment that institutions still see long-term upside. Why Analysts Prefer SpaceX to Tesla Stock
• Neutral Sentiment: SpaceX also launched 81 satellites and landed a rocket on a ship at sea, underscoring execution in its core business, though the market may view this more as operational progress than an immediate stock catalyst. SpaceX launches 81 satellites to orbit from California, lands rocket on ship at sea – Space
• Negative Sentiment: Some articles warned the Nasdaq-100 inclusion may turn into a “sell-the-news” event, while others pointed to ongoing volatility, a rich valuation, and fading IPO momentum as reasons the stock could remain under pressure near term. SpaceX Nasdaq-100 Inclusion Flashes A Historic ‘Sell-The-News’ Warning
• Negative Sentiment: SpaceX was also mentioned in broader market weakness tied to tech and AI selling, which can add short-term downside even when company-specific news is positive. Samsung, Micron, Rivian, SpaceX, and More Stocks That Explain Today’s Market

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.