SpaceX’s (SPCX) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of SpaceX (NASDAQ:SPCX) in a research report released on Wednesday,Benzinga reports. The brokerage currently has a $250.00 price objective on the stock.

Several other research analysts have also recently weighed in on the company. Roth Capital raised SpaceX to a “buy” rating in a research report on Monday, June 22nd. KGI Securities cut SpaceX from an “outperform” rating to a “hold” rating in a research note on Monday, June 22nd. Argus initiated coverage on shares of SpaceX in a report on Friday, June 26th. They issued a “hold” rating on the stock. Sanford C. Bernstein restated an “outperform” rating on shares of SpaceX in a research report on Tuesday, July 28th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $225.00 price objective on shares of SpaceX in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $227.31.

SpaceX Price Performance

SpaceX stock opened at $133.11 on Wednesday. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64. The business’s 50 day moving average price is $143.35. The company has a current ratio of 5.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.29.

SpaceX (NASDAQ:SPCX) last released its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.17. The business had revenue of $7.81 billion during the quarter. SpaceX’s revenue for the quarter was up 91.9% compared to the same quarter last year. On average, analysts forecast that SpaceX will post -0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On SpaceX

Several large investors have recently added to or reduced their stakes in SPCX. Atwood & Palmer Inc. bought a new stake in SpaceX in the 2nd quarter valued at about $29,000. Marquette Asset Management LLC bought a new position in SpaceX during the second quarter worth about $32,000. Burkett Financial Services LLC purchased a new position in shares of SpaceX in the second quarter worth about $70,000. Contravisory Investment Management Inc. purchased a new position in shares of SpaceX in the second quarter worth about $73,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of SpaceX in the second quarter valued at approximately $89,000.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Lockup pressure was less severe than feared. Approximately 911.5 million shares became eligible for trading, more than doubling SpaceX’s public float. However, the stock remained resilient, suggesting that selling may have been largely anticipated and that existing shareholders and retail investors were willing to support the shares. SpaceX’s stock is having one of its best days ever with the first lockup expiration now behind it
• Positive Sentiment: Analysts turned more constructive. Argus upgraded SpaceX to Buy and set a $160 price target, citing accelerating AI revenue, cloud contracts and a potential payback period of less than one year for new AI spending. JPMorgan also raised its target, reinforcing the bullish view on SpaceX’s compute opportunity. SpaceX Stock Just Scored a New Buy Rating
• Positive Sentiment: Quarterly growth remains impressive. SpaceX reported revenue of $7.81 billion, up 91.9% year over year, and a smaller-than-expected loss of $0.09 per share. Reports also highlighted $20.8 billion of combined AI cloud contracts, $2.56 billion in AI revenue and continued profitability at Starlink. SpaceX Signed $14.1 Billion of Cloud Contracts in a Single Quarter
• Positive Sentiment: AI infrastructure plans are expanding. SpaceX’s partnership with Nvidia to deploy next-generation hardware in terrestrial and orbital data centers, along with the planned $16.8 billion Terafab chip factory with Tesla, strengthens the company’s long-term AI and compute narrative. SpaceX’s Terafab will rely on natural gas power plants
• Neutral Sentiment: Speculation about a SpaceX-Tesla merger or tracking-stock structure added attention but remains unconfirmed. Jefferies characterized the possibility as uncertain rather than an immediate catalyst. Jefferies weighs in on SpaceX-Tesla merger speculation
• Negative Sentiment: Risks remain substantial. SpaceX is committing roughly $15.8 billion of quarterly capital spending to AI and remains GAAP-loss-making. Additional staged unlocks through December could create further supply, while concerns about contract cancellations, valuation and the execution of Starlink Mobile continue to limit investor conviction.

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.