Virgin Galactic Initiated Neutral - Prospects Up in the Air [TheStreet.com]
Virgin Galactic Holdings, Inc. (SPCE)
Company Research
Source: TheStreet.com
Shares of Virgin Galactic(SPCEVirgin was founded and is partly owned by U.K. serial entrepreneur Richard BransonPoponak pegged his share-price target at $19, below the estimates of all other analysts surveyed by Bloomberg.The stock recently traded at $19.29, down 7%. It has dropped 67% this year amid intense competition and uncertain prospects.Virgin Galactic hopes to lead the pack for private space travel, which could be a lucrative market. But “time to realization of the opportunity is very long, customer adoption and recurrence uncertain, and potential for competition not insignificant,” Poponak wrote in a commentary cited by Bloomberg.“The key question for investing in SPCE is how many people will want to fly to space and how much will they pay to do so.”Virgin faces stiff competition from Elon Musk’s SpaceX and Jeff Bezos’s Blue Origin.Last month, Susquehanna analyst Charles Minervino initiated coverage of Virgin Galactic with a positive rating and $20 share-price target.Virgin G
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SPCE
News
- Virgin Galactic Stock Has 25% Downside Risk, According to 1 Wall Street Analyst Firm [Yahoo! Finance]Yahoo! Finance
- Virgin Galactic Holdings, Inc. (NYSE: SPCE) had its price target lowered by analysts at Wells Fargo & Company from $1.00 to $0.75. They now have an "underweight" rating on the stock.MarketBeat
- Virgin Galactic Holdings, Inc. (NYSE:SPCE) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Virgin Galactic Holdings, Inc. (NYSE: SPCE) had its price target lowered by analysts at Susquehanna from $2.00 to $1.10. They now have a "neutral" rating on the stock.MarketBeat
- Virgin Galactic to increase flights at Spaceport America [Yahoo! Finance]Yahoo! Finance
SPCE
Earnings
- 5/7/24 - Beat
SPCE
Sec Filings
- 5/8/24 - Form 4
- 5/8/24 - Form 4
- 5/7/24 - Form 10-Q
- SPCE's page on the SEC website