TLDR
- SpaceX (SPCX) stock closed at $145.47 on Monday, down 3% for the day.
- Starship’s 14th test flight reached orbit for the first time, deploying 26 Version 3 Starlink satellites.
- One upper stage engine failed during launch, cutting the mission short.
- TD Cowen started coverage with a buy rating and a $200 price target, citing AI compute leasing growth.
- About 76% of analysts covering SpaceX stock rate it a buy, well above the S&P 500 average.
SpaceX (SPCX) stock closed at $145.47 on Monday, down 3% for the day. The move came right after the company’s Starship rocket reached orbit for the first time.
Space Exploration Technologies Corp., SPCX
The 14th test flight for Starship marked a milestone for the reusable rocket program. It also deployed 26 new Version 3 Starlink satellites into orbit.
Starship’s earlier flights never reached orbital speed. This time the vehicle stayed up long enough to release its full satellite payload.
One of the upper stage engines failed during launch. SpaceX pressed on toward orbit anyway, though the mission ended up shorter than planned.
SpaceX stock rose as high as $150.80 right after liftoff. By late morning the gains reversed and the stock drifted lower into the close.
Why The Stock Dipped Despite The Win
Wall Street had already priced in a strong outcome for this test. The shortened mission length gave some investors a reason to book profits.
The S&P 500 and Dow Jones Industrial Average both fell about 1% the same day. SpaceX stock underperformed both indexes.
SpaceX still runs most of the world’s rocket launches. The company launched its Falcon 9 rocket 165 times in 2025 and expects a similar pace this year.
CEO Elon Musk said on social media that hourly Starship flights are two to three years away. That kind of launch cadence would give SpaceX a cost edge over ground based data centers.
Wall Street’s Growing AI Bet On SpaceX
TD Cowen started coverage on SpaceX stock Monday with a buy rating and a $200 price target. The firm pointed to SpaceX’s terrestrial AI compute leasing business as its fastest growing revenue stream.
Google and Anthropic are already customers of that leasing business. TD Cowen expects AI compute leasing to make up most of SpaceX’s revenue by the first quarter of 2027.
SpaceX brought in $23 billion in revenue over the past twelve months. Analysts are forecasting 144% revenue growth for the 2026 fiscal year.
TD Cowen isn’t alone in its optimism. CLSA also started coverage Monday with a buy rating and a $250 price target.
Other firms have echoed the upbeat tone in recent weeks. Bernstein SocGen sees Starlink’s broadband business reaching about $64 billion in revenue by 2031.
Mizuho reaffirmed its outperform rating too, pointing to SpaceX’s pricing power. William Blair and Clear Street also stayed positive after the Starship launch.
SpaceX stock carries one of the highest buy-rating ratios on Wall Street. About 76% of analysts covering the stock rate it a buy, compared with 55% to 60% for a typical S&P 500 company.
The average analyst price target for SpaceX stock sits near $224. That’s well above where the stock closed on Monday.
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