Wall Street analysts have vastly different price targets for SpaceX.
Wall Street analysts have vastly different price targets for SpaceX.
Space Exploration Technologies (SPCX -1.74%), also known as SpaceX, is famous for its rockets. But those launches explain surprisingly little about how Wall Street values the company. The 35 analysts tracked by TipRanks have 12-month price targets ranging from $75 to $450. The average consensus estimate of $217 is nearly 50% above the stock's price as of this writing.
The wide range reflects more than differing expectations for rocket launches. Analysts are assigning very different values to Starlink's future profits, SpaceX's artificial intelligence (AI) ambitions, and the enormous capital required to turn those opportunities into sustainable cash flow.
Rockets contribute surprisingly little direct value
Morgan Stanley analyst Adam Jonas has a $300 price target on SpaceX. Yet the investment bank reportedly assigns just $8 per share, or less than 3% of that target, to its external launch business. The investment bank attributes $118 per share to the Starlink-powered connectivity business and $165 per share to the enterprise AI business.
SPCX Space Exploration Technologies
$146.03-$2.59 (-1.74%)
NASDAQ · As of 4:00 PM ET 10/16/26
SpaceX's financials help explain why. The company's revenue reached $7.81 billion in the second quarter, but its Space segment contributed just $962 million. In the Space segment, external launch services generated only $648 million, or roughly 8% of total revenue.
The Space segment recorded a $542 million operating loss in Q2. SpaceX has also spent approximately $1.08 billion on research and development in this segment, largely associated with the next-generation rocket launch system Starship.
Averytin News Financial update.