SpaceX Shares Surge as Analysts Lift Price Targets
The company's latest financial results have prompted several Wall Street firms to raise their outlooks for the stock.
By Fatima Laurent ·
SpaceX reported third quarter revenue of $14.6 billion. This figure represents a 161 percent increase from the prior year and surpassed analyst estimates, which were near $12.7 billion. The company also posted a net profit of $4.4 billion, a turnaround from a loss in the previous year. Its adjusted EBITDA reached $8.8 billion.
Following the report on October 20, analysts moved quickly to raise their price targets for the stock. JPMorgan more than doubled its target to $500 from a previous $240. Cantor Fitzgerald lifted its target to $345 from $246. Barclays increased its target to $300 from $254, while Morgan Stanley held a $300 target with an Overweight rating.
Other firms also adjusted their forecasts higher. Citi raised its target to $240 from $200. UBS moved its target to $230 from $210, and TD Cowen raised its target to $224 from $200. Wells Fargo increased its target to $274 from $214, and Clear Street raised its target to $248 from $217.
Analysts cited a strong quarterly print and progress in AI compute expansion, Starlink, and Starship as drivers for higher growth. The company's Super Intelligence division generated roughly $7.6 billion. This makes it the largest revenue contributor, with growth of nearly 830 percent year-over-year. The Connectivity segment delivered $5.2 billion on strong subscriber additions.
Starlink's consumer base reached 13.6 million subscribers. During the earnings call, CEO Elon Musk and CFO Bret Johnsen outlined guidance for the first quarter of 2027. They projected revenue of $33 billion to $37 billion, which was well above analyst models of about $22 billion. The company also plans fourth-quarter capital expenditures of $35 billion to $40 billion for AI compute infrastructure.
SpaceX's shares closed at $147.79 on October 20. The stock jumped roughly 8 percent in early premarket trading on October 21 as investors reacted to the results. The average analyst price target has moved higher, reflecting greater conviction in the company's trajectory. Elevated spending remains a point of focus.
Source: Teslarati · original report published
