SpaceX (SPCX) stock continued to trend higher in Thursday’s pre-market trading after gaining more than 5% on Wednesday, as the aerospace company announced that Starship’s 14th flight is set for September 22. The flight will mark the first time Starship is sent into orbit around Earth and will deploy 26 Starlink V3 satellites. CEO Elon Musk said Starlink V3 deployment will begin in September. He said the new satellites could eventually deliver more than 100 times the bandwidth of SpaceX’s current constellation. Cathie Wood also said each Starship launch could generate $1 billion in revenue.
Wall Street still sees significant upside, with an average price target of $232.07, implying 54% upside. Here’s what analysts expect from SPCX stock ahead of Starship’s first orbital test.
Latest Analysts’ Views on SPCX Stock
In a recent report, Morgan Stanley analyst Adam Jonas reiterated a Buy rating on SPCX and a $300 price target. The price target implies about 99% upside from current levels. Jonas, a 4-star analyst, believes SpaceX’s AI business and orbital computing opportunity are not fully reflected in the stock’s valuation. He also sees orbital computing as a potential growth area for SpaceX, alongside its existing Starlink business.
Earlier this week, Bernstein analyst Douglas Harned maintained an Outperform rating on SpaceX and a $248 price target. The target implies about 64% upside. Harned believes the orbital data center opportunity remains the main driver of SpaceX’s valuation. He also sees significant potential in the company’s connectivity business.
Harned expects SpaceX’s Connectivity business to generate more than $100 billion in EBITDA by 2031. He believes a successful Starlink mobile virtual network operator (MVNO) strategy could provide additional upside through the company’s direct-to-device business. “Most important for SpaceX’s valuation remains gaining Starship reusability to enable orbital data centers,” Harned said.
Likewise, William Blair analyst Louis DiPalma reiterated an Outperform rating on the stock after the company signed another major AI compute agreement worth about $1.11 billion per month. “Last night’s deal is SpaceXAI’s fourth compute agreement in the past four months that is greater than $11 billion in ARR,” DiPalma said. The new deal has also increased his confidence in SpaceX reaching its $100 billion annual recurring revenue target by the end of 2026. “Bret Johnsen, SpaceX’s chief financial officer, indicated that he has even more conviction now in achieving the $100 billion ARR target in December,” DiPalma said.
Is SPCX Stock a Buy, Sell, or Hold?
Currently, Wall Street has a Moderate Buy consensus rating on SpaceX stock based on 26 Buys, six Holds, and two Sells. The average SPCX stock price target of $232.07 indicates about 54% upside potential.
