Key Takeaways
- SpaceX (SPCX) shares finished Monday’s session at $145.47, marking a 3% decline.
- The company’s 14th Starship test successfully achieved orbit, marking a historic first while deploying 26 Version 3 Starlink satellites.
- An upper stage engine malfunction during ascent resulted in a curtailed mission duration.
- TD Cowen launched coverage with a buy recommendation and $200 target, emphasizing AI compute leasing expansion.
- Approximately 76% of Wall Street analysts maintain buy ratings on SpaceX shares, significantly exceeding the S&P 500 norm.
SpaceX (SPCX) shares ended Monday’s trading at $145.47, registering a 3% loss. The pullback followed the company’s historic achievement of reaching orbit with its Starship vehicle for the first time.
Space Exploration Technologies Corp., SPCX
The 14th Starship test flight represented a pivotal moment for the reusable launch system. During the mission, the rocket successfully placed 26 upgraded Version 3 Starlink satellites into orbit.
Previous Starship attempts had fallen short of achieving orbital velocity. This flight managed to maintain altitude long enough to complete the satellite deployment sequence.
A malfunction in one of the upper stage engines occurred during the ascent phase. Despite this setback, SpaceX continued the orbital insertion, although the overall mission duration was compromised.
Shares of SpaceX initially surged to $150.80 immediately following the launch. However, by midday the momentum faded and the stock gradually declined through the closing bell.
Market Reaction to the Orbital Milestone
Traders had largely anticipated a successful test outcome ahead of the launch. The mission’s abbreviated duration provided some market participants an opportunity to take profits.
Broader market benchmarks including the S&P 500 and Dow Jones Industrial Average each declined roughly 1% during the same session. SpaceX shares fell more sharply than both indices.
SpaceX continues to dominate the global launch market. The firm executed 165 Falcon 9 missions throughout 2025 and anticipates maintaining a comparable tempo this year.
Elon Musk, the company’s CEO, shared on social platforms that hourly Starship launches could become reality within two to three years. Such rapid launch frequency would position SpaceX favorably against traditional ground-based data infrastructure.
Analyst Community Highlights AI Revenue Potential
TD Cowen initiated research coverage on SpaceX Monday, assigning a buy rating alongside a $200 price objective. The investment bank highlighted the company’s terrestrial AI compute leasing operations as the most rapidly expanding revenue category.
Major technology firms including Google and Anthropic have already signed on as customers for the leasing platform. TD Cowen projects that AI compute leasing will constitute the majority of SpaceX’s total revenue by Q1 2027.
The aerospace company generated $23 billion in trailing twelve-month revenue. Wall Street forecasters anticipate 144% revenue expansion for fiscal year 2026.
TD Cowen’s positive stance finds company among other bullish analysts. CLSA similarly launched coverage Monday with a buy recommendation and a more aggressive $250 price objective.
Additional research firms have reinforced optimistic outlooks in recent weeks. Bernstein SocGen projects Starlink’s broadband operations will generate approximately $64 billion in annual revenue by 2031.
Mizuho maintained its outperform rating as well, highlighting SpaceX’s competitive pricing advantages. William Blair and Clear Street also preserved positive stances following the orbital test.
Among Wall Street analysts, SpaceX stock commands one of the highest concentrations of buy ratings. Roughly 76% of covering analysts recommend purchasing the shares, well above the 55% to 60% typical for S&P 500 constituents.
The consensus analyst price target for SpaceX stock hovers around $224. This represents substantial upside from Monday’s closing price.
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