SpaceX (NASDAQ:SPCX) Earns Outperform Rating from Analysts at Evercore

Evercore assumed coverage on shares of SpaceX (NASDAQ:SPCX) in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $230.00 price target on the stock.

A number of other research firms have also recently weighed in on SPCX. Cfra assumed coverage on shares of SpaceX in a report on Friday, June 12th. They issued a “sell” rating and a $115.00 price objective on the stock. Morgan Stanley assumed coverage on SpaceX in a research note on Tuesday, July 7th. They issued an “overweight” rating and a $300.00 price objective on the stock. New Street Research raised shares of SpaceX to a “strong-buy” rating in a research note on Thursday, June 11th. Arete Research set a $401.00 target price on SpaceX and gave the company a “buy” rating in a report on Thursday, June 18th. Finally, Zacks Research upgraded shares of SpaceX to a “hold” rating in a research report on Monday, June 15th. Four research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eight have assigned a Hold rating and one has issued 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 $234.78.

SpaceX Trading Down 3.1%

SPCX stock opened at $131.11 on Tuesday. SpaceX has a 12-month low of $130.74 and a 12-month high of $225.64.

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

Institutional Trading of SpaceX

Large investors have recently made changes to their positions in the stock. Hyperion Asset Management Ltd bought a new stake in SpaceX during the second quarter worth approximately $201,137,000. Tema ETFs LLC bought a new stake in SpaceX in the 2nd quarter valued at $32,037,000. Teamwork Financial Advisors LLC acquired a new stake in SpaceX during the second quarter worth about $8,027,000. Heck Capital Advisors LLC acquired a new stake in shares of SpaceX during the 2nd quarter worth approximately $3,768,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in SpaceX during the second quarter worth $3,383,000.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Several Wall Street firms remain constructive, with analysts from Morgan Stanley, Evercore, Needham, and Raymond James reiterating or raising bullish price targets on the back of SpaceX’s long-term launch, Starlink, and AI-related growth potential.
• Positive Sentiment: Cathie Wood’s ARK Invest bought more SpaceX shares ahead of the Starship test, signaling that some prominent investors see the recent weakness as a buying opportunity.
• Positive Sentiment: SpaceX is still getting attention for future growth catalysts, including Starship Flight 13, expanded Starlink adoption, and plans for AI compute satellites and other space-based infrastructure.
• Neutral Sentiment: The company’s Starship test was aborted before liftoff after ignition/at the last second, which delays a key near-term catalyst but does not indicate a failure in the program itself. SpaceX suddenly aborts second Starship V3 launch after ignition
• Neutral Sentiment: Commentary around SpaceX becoming the most shorted new stock and short sellers earning billions reflects heavy bearish positioning, but also highlights that the stock is now a major battleground between bulls and bears. Short sellers rack up $8.7 bln profit as SpaceX slips below IPO price -Ortex
• Negative Sentiment: SpaceX’s break below its IPO price has been widely viewed as a sign that the debut rally is fading, and the stock is now trading more like a volatile momentum name than a newly listed growth story.
• Negative Sentiment: Investor concern is also being fueled by articles questioning whether the stock could fall further, with some skeptics arguing SpaceX remains expensive relative to near-term profitability.

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.