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Wall Street Analysts Raise SpaceX Targets Ahead of Q3 Earnings

BullishMedium impact
SPCX$147.96 1.32%

Wall Street brokerages have updated their outlooks and price targets on Space Exploration Technologies Corp (NASDAQ:SPCX) ahead of its third-quarter financial report. Shares of the company traded at 148 USD, up 1.32% today, as multiple financial institutions reiterated positive coverage.

Analyst expectations center on expanding artificial intelligence build-outs and strong top-line performance. Pivotal Research projects third-quarter revenue to reach $13.2 billion with earnings per share of $0.21, bumping its price target to $230. Meanwhile, Evercore ISI boosted its target to $275, Barclays initiated coverage with a $254 target, and Morgan Stanley set a high target of $300. However, Goldman Sachs noted that heavy investments in AI compute capacity could put near-term pressure on free cash flow.

Investors are looking beyond immediate quarterly performance to broader structural catalysts. Morgan Stanley described the upcoming earnings report as an "appetizer" compared to major events like Starship Flight 15 and long-term opportunities in the "physical intelligence economy".

Key points

  • Pivotal Research forecasts Q3 revenue of $13.2 billion and earnings per share of $0.21 for Space Exploration Technologies Corp.
  • Morgan Stanley maintained an Overweight rating and a $300 price target, pointing to catalysts like Starship Flight 15.
  • Goldman Sachs updated estimates to weigh heavy AI compute investments against near-term free cash flow pressures.
  • Shares of Space Exploration Technologies Corp (NASDAQ:SPCX) rose 1.32% to $148 USD.

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Questions and answers

What are analysts forecasting for SpaceX Q3 revenue?

Pivotal Research forecasts third-quarter revenue of $13.2 billion and earnings per share of $0.21 for Space Exploration Technologies Corp.

What is the highest analyst price target for SpaceX stock?

Morgan Stanley holds the highest price target among the reported updates at $300, maintaining an Overweight rating.

Why is Goldman Sachs watching SpaceX free cash flow?

Goldman Sachs refreshed its estimates to account for heavy artificial intelligence compute build-outs, which could pressure near-term free cash flow.