Key Stats for SpaceX Stock
- Price change for SpaceX stock: 16%
- $SPCX Stock Price as of Aug. 7: $133
- 52-Week High: $226
- $SPCX Stock Price Target: $231
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What Happened?
SpaceX (SPCX) stock jumped 16% on Friday, putting shares on track to close out their first positive week in a while. In the last 5 days, the stock is up more than 25%, a sharp turnaround after four straight weeks in the red.
Part of this week’s rally came from Argus, which upgraded SpaceX stock to buy from hold and reiterated a $160 price target, implying 39% upside from Thursday’s close.
Investors also appear to have worked through their concerns about a wave of upcoming share unlocks, with much of that worry already priced in after shares dropped earlier in the week on those same fears.
The move comes on the heels of a strong Q2. Revenue came in at $7.8 billion, up 92% from $4.1 billion a year ago, while the company narrowed its net loss to $541 million, an improvement of $467 million from the prior year. Adjusted EBITDA nearly tripled to $3.5 billion, up 191% year-over-year.
SpaceX’s business is built on three segments: Space, Connectivity, and AI.
Connectivity, which includes Starlink, was the biggest contributor, growing 66% year-over-year to $4.3 billion, driven by record subscriber additions and strong enterprise and government demand.
The AI segment posted the fastest growth, up 247% year-over-year to $2.6 billion, and turned adjusted EBITDA positive for the first time at $1.1 billion.
The company also strengthened its balance sheet significantly this quarter, raising roughly $85.7 billion in its IPO and completing a $25 billion investment-grade bond offering.
SpaceX ended the quarter with $100 billion in cash and marketable securities and a backlog of $47.5 billion.
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What the Market Is Telling Us About SpaceX Stock
The rebound in SpaceX stock this week suggests investors are looking past the near-term overhang of insider share unlocks and focusing on the underlying business.
A stock unlock happens when previously restricted shares, often held by early investors or employees, become available to sell on the open market.
That new supply can sometimes pressure a stock lower, which appears to be exactly what happened earlier in the week before buyers stepped back in.
Once that fear was priced in, attention shifted back to fundamentals, and those fundamentals look strong.
Revenue nearly doubled year-over-year, losses are shrinking, and the AI segment just turned profitable on an adjusted basis.
With an analyst upgrade adding fuel and a $160 price target pointing to meaningful upside, this week’s action in SpaceX stock shows a market willing to reward strong execution once a technical headwind clears out of the way.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
