Wells Fargo & Company Begins Coverage on SpaceX (NASDAQ:SPCX)

Investment analysts at Wells Fargo & Company initiated coverage on shares of SpaceX (NASDAQ:SPCX) in a research report issued on Tuesday,Benzinga reports. The firm set an “overweight” rating and a $230.00 price target on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 43.37% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Bank of America initiated coverage on SpaceX in a research note on Tuesday. They issued a “buy” rating and a $235.00 target price on the stock. Royal Bank Of Canada began coverage on SpaceX in a report on Tuesday. They set an “outperform” rating and a $225.00 price target for the company. Cfra began coverage on SpaceX in a research note on Friday, June 12th. They issued a “sell” rating and a $115.00 price target for the company. Deutsche Bank Aktiengesellschaft initiated coverage on SpaceX in a report on Tuesday. They issued a “buy” rating and a $255.00 price objective on the stock. Finally, JPMorgan Chase & Co. began coverage on shares of SpaceX in a research report on Tuesday. They issued an “overweight” rating and a $225.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $240.52.

SpaceX Price Performance

SPCX stock opened at $160.42 on Tuesday. SpaceX has a 12-month low of $147.11 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 for the quarter. The firm had revenue of $4.69 billion for the quarter.

Institutional Investors Weigh In On SpaceX

Hedge funds and other institutional investors have recently modified their holdings of the stock. KERR FINANCIAL PLANNING Corp bought a new stake in shares of SpaceX in the second quarter valued at about $566,000. Dogwood Wealth Management LLC bought a new position in SpaceX during the second quarter valued at about $139,000. Finally, Burkett Financial Services LLC bought a new position in SpaceX during the second quarter valued at about $70,000.

Key SpaceX News

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.