SpaceX stock gets a slew of price target boosts after bullish earnings call
Analysts have rapidly increased their price targets on SpaceX after the company reported strong third quarter results for 2026.
By Jennifer Paige ·
The third quarter results were far beyond expectations, with SpaceX posting revenue of $14.6 billion, a 161 percent year-over-year increase, which comfortably topped the consensus estimates of around $12.7 billion. The company also turned a net profit of $4.4 billion, which was a reversal from a prior-year loss, and its adjusted EBITDA reached $8.8 billion. This performance has led to rapid increases in price targets across Wall Street.
The price target adjustments include Cantor Fitzgerald, which lifted its target to $345 from $246, and Barclays, which raised its target to $300 from $254. Citi increased its target to $240 from $200, while UBS moved to $230 from $210. TD Cowen raised its target to $224 from $200, and Morgan Stanley maintained an Overweight rating with a $300 target. Wells Fargo and Clear Street also raised their targets to $274 from $214 and to $248 from $217, respectively.
The strong quarterly performance, along with the accelerated expansion of AI compute, progress on Starlink, and milestones in Starship, have been cited as key drivers of higher long-term growth and earnings power by analysts. SpaceX’s Super Intelligence division generated $7.6 billion, becoming the largest revenue contributor, and the Connectivity segment delivered $5.2 billion on strong subscriber additions.
The Earnings Call proved especially catalytic, as CEO Elon Musk and CFO Bret Johnsen outlined Q1 2027 revenue guidance of $33 billion to $37 billion, which was far above the roughly $22 billion analysts had modeled. Fourth-quarter capital-expenditure plans of $35 billion to $40 billion were also announced, focused on AI compute infrastructure at sites including Memphis and Southaven.
These elements prompted a wave of price-target increases, with JPMorgan more than doubling its target to $500 from $240 while maintaining an Overweight rating. The average analyst price target has moved higher, which reflects greater conviction in SpaceX’s trajectory across launch, connectivity, and the Super Intelligence business.
Source: Teslarati
