Key Stats for SpaceX Stock
- Price change for SpaceX stock in last 1 month: -10%
- $SPCX Stock Price as of Sep. 28: $145
- 52-Week High: $226
- $SPCX Stock Price Target: $224
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What Happened?
SpaceX (SPCX) hit a major milestone on Monday. Its Starship rocket reached orbit for the first time.
The rocket lifted off from Starbase, Texas, at 7:48 a.m. local time and reached orbit around 8:15 a.m. SpaceX employees at the site cheered loudly.
During the flight, SpaceX also deployed 26 of its new Starlink V3 satellites.
This was Starship’s 14th test flight. None of the first 13 were meant to reach orbit.
The flight wasn’t perfect. One of the ship’s vacuum engines went out.
SpaceX had hoped Starship would circle Earth several times and land off Chile. Instead, it landed early, splashing down around 10:58 a.m. local time.
Starship is the key to growing Starlink. Starlink sits in the Connectivity segment, SpaceX’s largest segment and its only profitable one as of Q2.
That segment brought in $4.3 billion in Q2, up 66% from a year earlier.
One Starship can carry 60 Starlink V3 satellites, about 20 times what a Falcon 9 can carry.
Each V3 satellite is also much stronger. On the August earnings call, Musk said V3 is about 10 times as capable as V2.
SpaceX already runs about 11,000 active satellites. Rival Eutelsat OneWeb has roughly 650.
Musk even said Starlink could one day deliver internet to most of the world.
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What the Market Is Telling Us About SpaceX Stock
For SpaceX stock, this launch is a big proof point. Starship is finally doing real work, not just testing.
Still, investors should stay grounded. Musk has missed Starship deadlines before. He once said it would reach orbit in 2022. SpaceX also hasn’t yet shown the rocket can be reused reliably.
There’s a waiting period, too. Musk said SpaceX needs about 1,000 V3 satellites before customers see a real service boost. He expects that around Q2 of next year.
The business is growing fast in the meantime.
Q2 revenue jumped 92% to $7.8 billion. Management expects to reach $100 billion in annualized revenue by December.
That growth helps explain why SpaceX stock carries a roughly $2 trillion valuation.
Reaching orbit moves SpaceX closer to scaling Starlink. Reusability is the next big test for SpaceX stock.
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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!
