SpaceX (NASDAQ:SPCX) Trading Up 15.8% After Analyst Upgrade

SpaceX (NASDAQ:SPCX) traded up 15.8% on Friday after Argus upgraded the stock from a hold rating to a buy rating. Argus now has a $160.00 price target on the stock. SpaceX traded as high as $133.48 and last traded at $133.11. Approximately 237,684,429 shares changed hands during mid-day trading, an increase of 110% from the average session volume of 113,126,078 shares. The stock had previously closed at $114.92.

Several other equities analysts have also recently commented on the stock. KeyCorp reaffirmed a “sector weight” rating on shares of SpaceX in a research note on Tuesday, July 28th. Sanford C. Bernstein set a $248.00 price target on shares of SpaceX in a research report on Thursday. Daiwa Securities Group started coverage on SpaceX in a research report on Thursday, July 2nd. They issued a “neutral” rating and a $175.00 price objective on the stock. Barclays upgraded SpaceX from an “underweight” rating to an “overweight” rating in a research report on Monday, June 22nd. Finally, Seaport Research Partners upgraded shares of SpaceX to a “buy” rating in a research report on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $227.31.

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: AI and cloud momentum drove optimism. SpaceX reportedly secured up to $20.8 billion in AI cloud contracts, including a $6.7 billion agreement, while AI revenue more than tripled to approximately $2.56 billion. The contracts improve revenue visibility and support the company’s strategy to become a major computing provider. SpaceX Expands AI Cloud Business With $20.8 Billion in New Contracts
• Positive Sentiment: Quarterly results exceeded expectations. Revenue rose 91.9% year over year to $7.81 billion, and the quarterly loss of $0.09 per share was narrower than analysts expected. Starlink remains profitable, subscribers reportedly doubled to 12 million, and government and enterprise connectivity revenue continued to grow. Why SpaceX Stock Is Rising
• Positive Sentiment: Analyst support strengthened. Argus upgraded SpaceX to “buy” with a $160 price target, while JPMorgan and other firms raised targets or maintained bullish ratings. Investors are increasingly valuing SpaceX as an integrated space, connectivity and AI infrastructure company rather than solely as a rocket maker. Argus Upgrades SpaceX to Buy
• Neutral Sentiment: The lockup event was less disruptive than feared. Approximately 911 million shares became eligible for trading, more than doubling the public float. However, the stock held up as investors absorbed the supply and some shares remained restricted because performance-based conditions were not met. Additional unlocks through December remain an overhang. SpaceX Stock After Lockup Expiration
• Negative Sentiment: Heavy spending limits the bullish case. SpaceX spent roughly $18.4 billion during the quarter, including $15.8 billion on AI infrastructure, and remains GAAP-loss-making. Investors also face execution risk from the $16.8 billion Terafab project, uncertain cloud-contract economics and competition for Starlink Mobile from established wireless carriers.

Hedge Funds Weigh In On SpaceX

Several hedge funds have recently made changes to their positions in SPCX. KERR FINANCIAL PLANNING Corp purchased a new position in SpaceX during the 2nd quarter valued at $566,000. Burkett Financial Services LLC purchased a new stake in shares of SpaceX in the 2nd quarter worth about $70,000. Dogwood Wealth Management LLC bought a new stake in shares of SpaceX during the 2nd quarter valued at about $139,000. Dynamic Advisor Solutions LLC purchased a new position in shares of SpaceX during the second quarter valued at about $3,383,000. Finally, Apella Capital LLC bought a new position in SpaceX in the second quarter worth about $452,000.

SpaceX Stock Up 15.8%

The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.22.

SpaceX (NASDAQ:SPCX) last released its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.17. The business had revenue of $7.81 billion during the quarter. The company’s quarterly revenue was up 91.9% compared to the same quarter last year. As a group, analysts expect that SpaceX will post -0.64 EPS for the current fiscal year.

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.