Goldman Sachs begins coverage for Virgin Galactic

virgin galactic

Virgin Galactic logoGoldman Sachs Group initiated coverage on shares of Virgin Galactic (NYSE:SPCE) in a research note issued on Friday, Stock Target Advisor reports. The brokerage set a “neutral” rating and a $19.00 price target on the stock. Goldman Sachs Group’s target price points to a potential downside of 0.73% from the company’s previous close.

Shares of NYSE SPCE opened at $19.14 on Friday. The stock has a market capitalization of $4.03 billion, a PE ratio of -16.36 and a beta of 0.36. Virgin Galactic has a fifty-two week low of $6.90 and a fifty-two week high of $42.49.

Virgin Galactic (NYSE:SPCE) last released its earnings results on Monday, August 3rd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.02). On average, sell-side analysts expect that Virgin Galactic will post -1.16 earnings per share for the current fiscal year.

About Virgin Galactic
Virgin Galactic Holdings, Inc, an integrated aerospace company, develops human spaceflight for private individuals and researchers in the United States. It also manufactures air and space vehicles. The company’s spaceship operations include commercial human spaceflight, flying commercial research, and development payloads into space.

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