TLDR
- SpaceX completed its 80th Starlink launch of 2026 on Sunday, sending 27 satellites to low-Earth orbit from Vandenberg Space Force Base.
- The company is phasing out Falcon 9 in favor of Starship, with Florida Starlink launches now exclusively on Starship going forward.
- SpaceX reported Q2 revenue of $7.81 billion, up 92% year over year, with EPS of -$0.09, beating analyst estimates of -$0.26.
- K5 Global Advisor LLC took a new $6.59 billion position in SPCX, making it the firm’s sole reported holding.
- The stock closed at $147.95 Friday, with a consensus analyst price target of $221.20 and a “Moderate Buy” rating.
SpaceX completed its 80th Starlink launch of 2026 on Sunday, deploying 27 satellites to low-Earth orbit from Vandenberg Space Force Base in California. The Falcon 9 booster carried out the mission as the company inches closer to a major transition in how it sends satellites to space.
SPCX stock closed at $147.95 on Friday, up 3% for the week. The stock has a 1-year range of $104.83 to $225.64.
Space Exploration Technologies Corp., SPCX
The company is actively phasing out Falcon 9 in favor of its much larger Starship rocket. SpaceX VP of launch Kiko Dontchev confirmed last month that Falcon 9 has made its final Starlink launch from Florida.
“From here on, Starlink missions out of Florida will fly on Starship. The West Coast team will continue regularly launching Starlink from Vandenberg,” Dontchev wrote on X.
The shift to Starship is not just operational. Starship is fully reusable, carries a larger payload, and runs on liquid methane instead of kerosene, which could meaningfully reduce per-launch costs.
SpaceX recently filed paperwork for its 14th Starship test flight, listing a potential operation start date of September 15.
Strong Earnings Beat
SpaceX reported Q2 revenue of $7.81 billion, up 91.9% year over year. EPS came in at -$0.09, well ahead of the analyst consensus of -$0.26.
Those numbers were helped by growth in Starlink subscribers, connectivity demand, and expanding AI-compute revenue. Analysts expect full-year EPS of -$0.15.
Despite the losses, institutional interest in the stock has grown. K5 Global Advisor LLC disclosed a new $6.59 billion position in SPCX during Q2, representing around 0.30% of the company. SpaceX is now K5’s sole reported holding.
Other firms also entered the stock in Q2. Hyperion Asset Management took a new position worth $201 million, Bond Capital Management added $180 million, and Value Aligned Research Advisors picked up $100 million worth.
Analyst Targets and Near-Term Risks
Wall Street’s average price target on SPCX sits at $221.20. Bank of America has a buy rating with a $235 target. Clear Str upgraded the stock to strong buy in July.
Not all analysts are bullish. Piper Sandler cut its target from $156 to $140 and kept a neutral rating after the Q2 earnings report. Two analysts rate it strong buy, 25 buy, eight hold, and seven sell.
One near-term concern is a share unlock scheduled for September 9, which could bring fresh selling pressure from insiders and early investors.
SpaceX also spent $18.4 billion in a single quarter, including $15.8 billion on AI infrastructure. The company remains GAAP-loss-making, and some analysts question whether the current valuation already prices in much of its long-term growth.
The stock’s 50-day moving average stands at $136.15, with a market cap of approximately $1.93 trillion.
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