TLDR
- Intuitive Machines stock surged +14.1% in morning trading on May 26, hitting a 52-week high of $45.52
- Cantor Fitzgerald raised its price target to $43 from $26, keeping its Overweight rating
- The company is expecting an imminent decision on the Lunar Terrain Vehicle (LTV) contract, which management is confident of winning
- LUNR was named one of 14 awardees on a U.S. Space Force Andromeda IDIQ contract worth up to $6.24 billion in total value
- Broader space sector enthusiasm, fueled by SpaceX’s IPO filing, added extra fuel to the rally
Intuitive Machines stock jumped 14.1% on May 26, hitting a new 52-week high of $45.52 before settling around $43.65.
Intuitive Machines, Inc., LUNR
The move came after Cantor Fitzgerald analyst Andres Sheppard published a bullish note, raising his price target on LUNR to $43 from $26 while keeping an Overweight rating.
The upgrade pointed to several upcoming catalysts, including a near-term decision on the Lunar Terrain Vehicle (LTV) contract and the company’s confirmed IM-3 lunar mission planned for the second half of 2026.
Management said it expects the LTV award decision before the end of the week and has expressed confidence in winning it.
LUNR was also selected as one of 14 awardees under the U.S. Space Force’s Andromeda IDIQ contract ā a 10-year deal with an initial value of up to $1.84 billion and a potential total value of $6.24 billion spread across all awardees.
Cantor Fitzgerald said it views the Andromeda award as additional upside not yet priced into current estimates.
Space Sector Catches a Bid on SpaceX IPO Filing
The stock didn’t move on the analyst note alone. A wave of enthusiasm swept through space sector names after SpaceX filed publicly for what could be the largest IPO on record.
Peers like Redwire also posted gains on the news. Nine space-focused ETFs have been filed or launched in the past three months, and LUNR has become a go-to name for investors looking for public exposure to the sector.
The Nasdaq added 1.3% on the day, providing a helpful backdrop for high-momentum names like LUNR.
The stock has gained roughly 238% over the past year and was trading near its 52-week high even before Monday’s move.
Backlog and Revenue Picture
LUNR’s backlog grew nearly 400% to $1.055 billion in Q1 2026, with management expecting 60ā65% of that to convert to revenue by the end of fiscal 2026.
The company reaffirmed its full-year revenue guidance of $900 million to $1 billion, along with positive adjusted EBITDA for fiscal 2026.
That’s a sharp jump from the roughly $210 million in revenue expected for fiscal 2025, driven in part by the acquisition of Lanteris.
Q1 earnings did miss expectations. The company posted an EPS of -$0.25 against a forecast of -$0.06, and revenue of $186.7 million came in below the $200.12 million consensus.
Despite the miss, management held its full-year guidance, which kept analyst confidence intact.
Cantor Fitzgerald projects revenue climbing above $900 million in fiscal 2026, broadly in line with the company’s own outlook.
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