Key Stats for SpaceX Stock
- Price change for SpaceX stock in the last 1 month: 4%
- $SPCX Stock Price as of Sep. 29: $149
- 52-Week High: $226
- $SPCX Stock Price Target: $223
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What Happened?
SpaceX (SPCX) shares are moving higher after TD Cowen started covering the stock with a buy rating and a $200 price target. With the stock around $149, that target points to about 34% upside.
TD Cowen’s main argument is about AI. The firm expects SpaceX’s AI compute leasing business to become its fastest-growing revenue source.
In simple terms, SpaceX builds large data centers on the ground and rents that computing power to other companies. Google and Anthropic are already customers.
TD Cowen goes further. It projects that AI compute leasing will make up most of SpaceX’s total revenue by Q1 2027, as more gigawatts of capacity come online.
The company’s latest results support that view.
In Q2, AI segment revenue jumped 247% from a year ago to $2.6 billion.
New cloud deals alone added $1.6 billion. Early in Q3, SpaceX signed another $6.7 billion in cloud services revenue that starts ramping in October.
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What the Market Is Telling Us About SpaceX Stock
TD Cowen isn’t the only bullish voice.
- Clear Street reiterated its buy rating with a $217 target after Starship reached orbit and deployed 26 Starlink V3 satellites.
- Mizuho kept its Outperform rating and $200 target
- William Blair and Bernstein SocGen Group also reaffirmed Outperform ratings.
The business is growing fast. SpaceX generated $23 billion in revenue over the last 12 months, and analysts expect 144% revenue growth for fiscal 2026.
In Q2, total revenue rose 92% to $7.8 billion, and adjusted EBITDA (a measure of cash profit) nearly tripled to $3.5 billion.
Starlink is also gaining momentum. SpaceX added more than 1.7 million subscribers in Q2, its best quarter yet.
Bernstein estimates Starlink’s home broadband business could bring in about $64 billion in revenue by 2031.
Management is aiming high. SpaceX expects to reach $100 billion in annualized revenue run rate by December.
It also plans to end the year with more than 2 gigawatts of compute, up from 1.4 gigawatts in Q2.
Still, SpaceX stock isn’t without risk.
The company posted a $541 million net loss in Q2, and InvestingPro’s analysis suggests the stock looks overvalued compared with its Fair Value.
Spending is also heavy, with $18.4 billion in capital expenditures last quarter. For SpaceX stock, the key question is whether AI demand keeps growing as fast as analysts expect.
If it does, SpaceX stock could have room to run. If it slows, today’s valuation may be harder to justify.
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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!
