Cantor Fitzgerald Initiates Coverage on SpaceX (NASDAQ:SPCX)

Research analysts at Cantor Fitzgerald initiated coverage on shares of SpaceX (NASDAQ:SPCX) in a research note issued to investors on Tuesday,Benzinga reports. The brokerage set an “overweight” rating and a $246.00 price target on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 53.35% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. TD Cowen began coverage on shares of SpaceX in a research report on Monday, June 22nd. They issued a “buy” rating on the stock. Wall Street Zen raised shares of SpaceX to a “sell” rating in a research note on Saturday, June 20th. Oppenheimer lifted their price objective on shares of SpaceX from $190.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. Susquehanna started coverage on shares of SpaceX in a research note on Tuesday, June 23rd. They set a “neutral” rating and a $170.00 target price on the stock. Finally, Benchmark assumed coverage on SpaceX in a report on Monday, June 22nd. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $240.52.

SpaceX Stock Down 1.0%

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 posted its quarterly earnings data on Thursday, May 7th. The company reported ($1.27) earnings per share (EPS) for the quarter. The business had revenue of $4.69 billion during the quarter.

Institutional Trading of SpaceX

A number of hedge funds have recently made changes to their positions in the stock. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of SpaceX during the second quarter worth approximately $566,000. Dogwood Wealth Management LLC acquired a new position in SpaceX in the 2nd quarter valued at approximately $139,000. Finally, Burkett Financial Services LLC acquired a new position in SpaceX in the 2nd quarter valued at approximately $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

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.