SpaceX (NASDAQ:SPCX) Rating Increased to Strong-Buy at Wedbush

Wedbush upgraded shares of SpaceX (NASDAQ:SPCX) to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the company. TD Cowen assumed coverage on SpaceX in a research report on Monday, June 22nd. They set a “buy” rating on the stock. Roth Mkm raised SpaceX to a “buy” rating in a report on Monday, June 22nd. Seaport Research Partners raised SpaceX to a “buy” rating in a report on Monday, June 22nd. New Street Research upgraded SpaceX to a “strong-buy” rating in a research report on Thursday, June 11th. Finally, KGI Securities lowered SpaceX from an “outperform” rating to a “hold” rating in a research note on Monday, June 22nd. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $209.43.

SpaceX Stock Down 7.8%

Shares of SPCX stock opened at $157.54 on Tuesday. SpaceX has a 1 year low of $147.11 and a 1 year high of $225.64.

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

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Wedbush initiated coverage with a Buy rating and a $190 price target, with Dan Ives arguing SpaceX is evolving into a broader AI and connectivity platform rather than just a rocket company. Article Title
• Positive Sentiment: Several reports highlighted the upcoming Nasdaq-100 addition, which should create significant mechanical buying from index funds and ETFs, supporting demand for the shares. Article Title
• Positive Sentiment: Analysts also pointed to SpaceX’s multi-business structure, especially Starlink and the company’s expanding AI-related ambitions, as reasons the stock could have more upside over time. Article Title
• Neutral Sentiment: Investor attention is also being driven by a rumored AI phone/device prototype and related xAI integration, but these are still speculative and have not yet translated into confirmed revenue. Article Title
• Neutral Sentiment: Short interest has increased, showing that some traders expect more downside after the IPO, which helps explain the stock’s sharp swings. Article Title
• Negative Sentiment: Multiple articles warned that SpaceX’s valuation is stretched, with some analysts and commentators saying the stock is expensive, hard to value, and vulnerable to volatility after its rapid IPO run-up. Article Title
• Negative Sentiment: Some coverage also emphasized execution risk, high debt, and the fact that SpaceX may not be free-cash-flow positive until 2029, which is weighing on sentiment despite the bullish analyst calls. Article Title

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.