SpaceX (NASDAQ:SPCX) Now Covered by Analysts at Citigroup

Investment analysts at Citigroup began coverage on shares of SpaceX (NASDAQ:SPCX) in a report issued on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $200.00 price target on the stock. Citigroup’s price target would suggest a potential upside of 24.67% from the stock’s current price.

A number of other analysts have also weighed in on the company. New Street Research raised SpaceX to a “strong-buy” rating in a research note on Thursday, June 11th. Roth Mkm upgraded shares of SpaceX to a “buy” rating in a report on Monday, June 22nd. JPMorgan Chase & Co. assumed coverage on shares of SpaceX in a research report on Tuesday. They set an “overweight” rating and a $225.00 price objective on the stock. Bank of America began coverage on SpaceX in a research note on Tuesday. They issued a “buy” rating and a $235.00 price target for the company. Finally, Wall Street Zen upgraded shares of SpaceX to a “sell” rating in a research report on Saturday, June 20th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $240.52.

SpaceX Stock Performance

NASDAQ:SPCX opened at $160.42 on Tuesday. SpaceX has a 1 year low of $147.11 and a 1 year high of $225.64.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Burkett Financial Services LLC purchased a new position in shares of SpaceX during the second quarter valued at approximately $70,000. Dogwood Wealth Management LLC purchased a new position in SpaceX during the 2nd quarter valued at about $139,000. Finally, KERR FINANCIAL PLANNING Corp bought a new position in SpaceX in the second quarter worth approximately $566,000.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX is set to join the Nasdaq-100, which should trigger forced buying from index funds and ETFs that track the benchmark. Several reports say this could create a meaningful short-term demand boost for SPCX shares. SpaceX set for Nasdaq-100 debut on Tuesday after rule change accelerates inclusion
• Positive Sentiment: Options activity and retail sentiment have been leaning bullish ahead of the index addition, with traders positioning for a possible pop around the inclusion date. Here’s how SpaceX’s Nasdaq-100 inclusion might affect options pricing
• Neutral Sentiment: SpaceX president Gwynne Shotwell said she will donate SpaceX stock to Trump Accounts for children, a headline that is more political and public-relations driven than a direct earnings catalyst. Gwynne Shotwell donating SpaceX stock to Trump Accounts for kids
• Neutral Sentiment: Articles highlighting SpaceX ownership, IPO history, and index-fund exposure mainly reinforce how widely held and closely watched the stock has become, but they do not change fundamentals by themselves. Here’s Who Owns the Most SpaceX Stock
• Neutral Sentiment: New AI-related coverage, including SpaceX’s orbital computing ambitions and xAI/SpaceXAI branding, supports the long-term growth narrative, but investors are also questioning whether the valuation has already priced in too much. SpaceX Unveils AI Data-Center Plan as It Deorbits Starlink Satellites
• Negative Sentiment: Some commentary is warning that SpaceX’s massive valuation and rapid rise may be unsustainable, and one report notes the stock has recently cooled off as space names broadly pulled back. SpaceX Blew Past $2 Trillion and Is Joining the Nasdaq-100. Rocket Ship or Bubble?
• Negative Sentiment: Bearish takes are also pointing to dilution and supply concerns, saying more shares could come into the market over time and pressure the stock after the initial index-related excitement fades. Only 4% of SpaceX Shares Trade Right Now. By December, That Number Could Be 40%. Here’s What That Supply Boost Means for Investors

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.