Needham & Company LLC Reaffirms Buy Rating for SpaceX (NASDAQ:SPCX)

21 Oct 2026, 15:48 by Danessa Lincoln · The Markets Daily

SpaceX (NASDAQ:SPCX – Get Free Report)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a report released on Wednesday, Benzinga reports. They currently have a $250.00 price objective on the stock. Needham & Company LLC‘s target price points to a potential upside of 53.25% from the stock’s previous close.

Several other research firms have also recently issued reports on SPCX. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of SpaceX in a research report on Monday. Morgan Stanley reaffirmed an “overweight” rating on shares of SpaceX in a research report on Wednesday. Weiss Ratings initiated coverage on shares of SpaceX in a research report on Tuesday, September 1st. They set a “sell (d)” rating for the company. Wells Fargo & Company decreased their price objective on shares of SpaceX from $215.00 to $212.00 and set an “overweight” rating for the company in a research report on Tuesday, September 8th. Finally, Guggenheim initiated coverage on shares of SpaceX in a research report on Friday, August 7th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $233.50.

View Our Latest Research Report on SpaceX

SpaceX Price Performance

Shares of SpaceX stock traded up $15.34 during trading on Wednesday, hitting $163.13. 114,100,966 shares of the stock were exchanged, compared to its average volume of 101,039,414. The company has a market cap of $2.15 trillion and a PE ratio of -1,814.07. The business’s 50-day simple moving average is $148.92. SpaceX has a 12-month low of $104.83 and a 12-month high of $225.64. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29.

SpaceX (NASDAQ:SPCX – Get Free Report) last released its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.25. The firm had revenue of $14.58 billion for the quarter. The company’s revenue was up 161.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.36) earnings per share. As a group, research analysts forecast that SpaceX will post 0.07 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Gwynne Shotwell sold 342,170 shares of SpaceX stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the sale, the chief operating officer directly owned 2,472,035 shares in the company, valued at $379,630,414.95. This trade represents a 12.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Investors Weigh In On SpaceX

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SC US Ttgp LTD. acquired a new stake in SpaceX during the 2nd quarter worth $20,933,621,000. Darsana Capital Partners LP acquired a new stake in SpaceX during the 2nd quarter worth $17,335,783,000. K5 Global Advisor LLC acquired a new stake in SpaceX during the 2nd quarter worth $6,587,531,000. State Street Corp acquired a new stake in SpaceX during the 2nd quarter worth $1,858,329,000. Finally, Dragoneer Investment Group LLC acquired a new stake in SpaceX during the 2nd quarter worth $1,366,880,000.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

Positive Sentiment: SpaceX reported third-quarter revenue of approximately $14.58 billion, up 161% year over year and well above analyst expectations. Earnings were $0.35 per share versus a $0.10 consensus estimate, marking a swing from a year-earlier loss. SpaceX quarterly revenue report
Positive Sentiment: The Super Intelligence AI business became SpaceX’s largest segment, generating roughly $7.56 billion in revenue, while management said new computing deployments are currently paying back in less than one year. SpaceX plans to add at least 10 gigawatts of AI capacity in 2027. SpaceX AI infrastructure payback
Positive Sentiment: Starlink remains an important cash generator, with connectivity revenue of about $5.25 billion, 13.6 million consumer subscribers and strong enterprise and government growth. The company also reported a $63 billion backlog and forecast first-quarter 2027 revenue of $33 billion to $37 billion. SpaceX backlog and financial results
Positive Sentiment: Analysts raised their expectations after the report. TD Cowen raised its price target to $224 with a buy rating, while Needham maintained a buy rating and a $250 target; Wells Fargo raised its target to $274 and rated the shares overweight.
Neutral Sentiment: Elon Musk said SpaceX and Tesla formed independent committees to explore a potential merger and described the combination as attractive. However, no transaction has been agreed upon, Musk cannot participate in the discussions because of conflicts, and shareholder and regulatory approvals would be required. SpaceX and Tesla merger committees
Negative Sentiment: Investors remain concerned about the cost of growth. SpaceX spent roughly $19.6 billion on third-quarter capital expenditures and expects fourth-quarter spending of $35 billion to $40 billion, while some reports cited substantial year-to-date negative free cash flow and potential additional borrowing for AI chips.
Negative Sentiment: Starlink subscriber growth reportedly missed expectations, upcoming insider lockup expirations could increase selling pressure, and reports about restrictions on Starlink service in Ukraine create additional regulatory and reputational risk.

About SpaceX

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Space Exploration Technologies Corp., commonly known as SpaceX, is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles and spacecraft designed to reduce the cost of access to space and support commercial, government and scientific missions.