SpaceX (SPCX) – What Are Investment Firms Thinking About This Stock?

Shares of SpaceX (NASDAQ:SPCX) have been given a consensus rating of “Moderate Buy” by the forty-seven analysts that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $243.60.

A number of equities analysts have recently issued reports on SPCX shares. Arete Research set a $450.00 target price on SpaceX in a research note on Tuesday, August 11th. Wolfe Research reaffirmed an “outperform” rating and set a $175.00 price target on shares of SpaceX in a research note on Wednesday, August 26th. Sanford C. Bernstein set a $267.00 price target on SpaceX in a report on Monday, October 26th. Erste Group Bank started coverage on SpaceX in a research report on Thursday, October 8th. They set a “hold” rating on the stock. Finally, KeyCorp reissued a “sector weight” rating on shares of SpaceX in a research report on Friday.

SpaceX Stock Down 0.6%

SPCX traded down $0.83 during trading on Friday, hitting $139.11. The company’s stock had a trading volume of 76,552,723 shares, compared to its average volume of 113,965,480. SpaceX has a twelve month low of $104.83 and a twelve month high of $225.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00. The business’s fifty day simple moving average is $148.90. The stock has a market capitalization of $1.89 trillion and a price-to-earnings ratio of 535.04.

SpaceX (NASDAQ:SPCX) last released its earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.25. The company had revenue of $14.57 billion for the quarter. SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. The firm’s revenue was up 161.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.36) EPS. Equities research analysts expect that SpaceX will post 0.22 EPS for the current fiscal year.

Key Stories Impacting SpaceX

These are some of the SPCX stories that stood out recently:

• Positive Sentiment: AI expansion could add a major growth engine: SpaceX plans to invest more than $74 billion in supercomputing campuses in Texas and Arizona. Its latest reported quarterly revenue rose 161% year over year, underscoring the company’s rapid growth. Reuters: SpaceX to invest over $74 billion in supercompute facilities
• Negative Sentiment: High spending and hurdles raise execution risk: SpaceX expects to spend $35 billion to $40 billion this quarter, while its AI-campus plans face permitting scrutiny, including a pending Arizona hearing. The planned Starship test also still awaited FAA approval shortly before launch, leaving a high-profile catalyst uncertain. Benzinga: Starship Flight 15 awaiting FAA approval
• Negative Sentiment: Merger scrutiny adds uncertainty: Texas Attorney General-elect Nathan Johnson has signaled rigorous review of a possible SpaceX-Tesla combination, creating a potential political and regulatory obstacle. These concerns may help explain why ambitious growth news has not fully eased pressure on SPCX. Yahoo Finance: Incoming Texas AG vows scrutiny of potential merger

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Alphabet Inc. grew its holdings in SpaceX by 0.7% during the third quarter. Alphabet Inc. now owns 555,043,560 shares of the company’s stock worth $83,733,871,000 after buying an additional 3,854,060 shares in the last quarter. SC US Ttgp LTD. bought a new position in SpaceX during the 2nd quarter valued at $20,933,621,000. Darsana Capital Partners LP bought a new stake in shares of SpaceX in the 2nd quarter worth $17,335,783,000. K5 Global Advisor LLC purchased a new stake in shares of SpaceX in the second quarter valued at about $6,587,531,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of SpaceX during the third quarter valued at about $4,224,143,000.

SpaceX Company Profile

Space Exploration Technologies Corp., commonly known as SpaceX, is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles and spacecraft designed to reduce the cost of access to space and support commercial, government and scientific missions. SpaceX’s principal products and services include the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starlink satellite communications network. Falcon rockets are used to launch satellites, cargo and crew, while Dragon spacecraft support transportation to and from low Earth orbit.