Key Takeaways Second-quarter revenue reached $7.8 billion for SpaceX, marking a 92% increase from the prior year and surpassing analyst expectations of $6.8 billion The company delivered $3.5
Shares of SpaceX rallied over 6% during Friday’s session, reaching approximately $116.82 and positioning the aerospace company to halt a challenging four-week slide that had erased roughly 33% of shareholder value.
Space Exploration Technologies Corp., SPCX
This upward movement came after the company unveiled impressive second-quarter results on Tuesday after market close. The Elon Musk-led firm reported $7.8 billion in quarterly revenue, representing a 92% year-over-year increase and comfortably beating Wall Street’s $6.8 billion projection. Adjusted EBITDA reached $3.5 billion, far outpacing analyst estimates that clustered around $2.1 billion.
Since launching its public offering at $135 per share, the stock has experienced significant volatility, plummeting as much as 50% from its all-time high of $225.64. Current trading levels remain approximately 15% beneath the initial public offering price.
Individual traders secured approximately 20% of available shares during SpaceX’s historic public debut. Following the IPO, retail buying continued at an aggressive pace. According to JPMorgan analysis, retail traders poured at least $3.6 billion into the stock during the first eight weeks of public trading.
Based on an estimated weighted average cost of approximately $150 per share, these retail participants are currently facing aggregate paper losses totaling around $4.5 billion. Institutional buyers, however, were better positioned to exit at elevated prices and largely sidestepped the steepest portion of the selloff.
On Thursday, Argus Research elevated its rating on SPCX from Hold to Buy, establishing a $160 price objective. The research firm applied a 20-times multiple to its 2027 revenue projection of $110 billion. Argus highlighted the company’s swift return on capital investments, particularly in artificial intelligence infrastructure, as a significant catalyst.
Raymond James maintained its Strong Buy recommendation with an ambitious $800 price target. Bernstein increased its forecast to $248, driven by elevated revenue projections. Cantor Fitzgerald held its Overweight stance at $246. UBS reaffirmed its Buy rating with a $210 target, while Mizuho kept its Outperform designation at $200.
Long-term revenue expectations have also climbed substantially. Analysts now anticipate approximately $102 billion in 2027 revenue, a notable increase from the $72 billion consensus recorded at the end of July, according to FactSet data.
A remaining concern for investors involves the upcoming lockup expiration timeline. Mizuho analysts pointed out that approximately 911.5 million insider-held shares will soon become available for trading. Additional tranches are anticipated throughout the coming twelve months, potentially creating sustained selling pressure.
Management indicated that the company is tracking toward a year-end 2026 revenue run rate approaching $100 billion, substantially above previous guidance. As of Friday’s session, the stock has posted a 7.8% gain for the week.
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