Needham Maintains Buy on SpaceX, $250 Price Target
Needham analyst Ryan Koontz reiterated a Buy rating and $250 price target on SpaceX (NASDAQ: SPCX).
“We spoke with SPCX Investor Relations and received additional clarity on the timing of announced AI compute deals.
The majority of deals are expected to ramp in 4Q26, with one beginning in December, leading to a combined annualized Revenue run rate of ~$54B for only those announced AI compute deals; this supports management’s commentary for targeting total company ARR of ~$100B by the end of 2026.
We list the deal announcements below and adjust our AI Revenue in 2H26/C27 to reflect a more gradual ramp of compute deal contribution with head-room for the possible lumpy nature of renewals and more aligned with consensus estimates.
In the Space sector, Starship Flight 14 successfully made it to orbit on September 28th and released 26 of its very first operational Starlink V3 satellites.”
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