SpaceX NASDAQ:SPCX shares climbed about 6% on Tuesday after the aerospace company confirmed it will release its second-quarter financial results on Aug. 4, giving investors a timeline for its first earnings report as a publicly traded company.
The advance also came as SpaceX NASDAQ:SPCX prepared for a rescheduled Starship launch following a delay caused by an engine ignition issue. Investors are watching the mission as the company continues to expand its launch capabilities and broader commercial space initiatives.
Bank of America said investors may want to focus beyond quarterly earnings when evaluating SpaceX NASDAQ:SPCX. Analyst Ronald Epstein forecasts a second-quarter loss of $0.16 per share, compared with a loss of $0.34 per share a year earlier, while suggesting the company's long-term opportunities could extend beyond its current launch and satellite connectivity businesses.
Epstein pointed to emerging markets such as orbital computing, which involves processing data in space, as a potential future growth area. He maintained a Buy rating and a $235 price target, implying substantial upside from current levels. Wall Street analysts also remain broadly positive on the stock, with the majority carrying bullish ratings.