Space Exploration Technologies Corp Class A SPCX: Recent Performance and Near-Term Outlook
Current snapshot and near-term momentum
| Price (Nov 2, 2026) | $136.37 |
| Change (session) | +$1.65 (+1.22%) |
| Pre-market | $137.00 (+0.63) |
| Day’s range | $135.72–$142.05 |
| 52-week range | $104.83–$225.64 |
| Volume | 90,965,436 |
| Avg. volume | 103,523,143 |
| Market cap | $1.852T |
| Trailing P/E | 579.47–592.91 range reported by sources |
| Forward P/E | 48.46 |
| P/S | 54.35 |
| P/B | 10.35 |
| EV/Revenue | 55.52 |
| EV/EBITDA | 203.85 |
| Revenue (TTM) | $32.04B |
| Net income (TTM) | -$3.43B |
| EPS (TTM) | 0.23 |
| Earnings date | Oct 20, 2026 |
| 1y Target Est | $257.11 |
Notes: the data above come from a mix of market feeds and analyst sources and may reflect different reporting conventions (for example, trailing vs forward earnings multiples). The stock’s 52-week range provides context on its volatility over the past year, and the current price sits well above the August low but below the June 2026 high.
Recent earnings and segment performance
Morningstar’s analysis dated October 21, 2026 highlights a standout quarter: SpaceX reported Q3 2026 revenue of $14.6 billion, up 161% year over year. AI revenue grew sequentially by quintuple, driven by neocloud rentals. Starlink expanded by 69.5% and contributed $2.4 billion in operating profit, while AI generated $431 million in operating income. The launch business, previously a major driver of revenue, broke even in this period. These results illuminate where earnings power is really emerging: monetized connectivity and AI capabilities are becoming the core profit engines, rather than rocket launches alone.
The figures matter because they describe the quality and trajectory of SpaceX’s revenue streams. Investors evaluating near-term performance should link price moves to these segment results, recognizing that AI monetization and Starlink profitability are central to the current earnings narrative.
Valuation and near-term forecasts
Market expectations for SpaceX’s near term price move draw on three distinct methodologies. Trading Economics’ macro model projects roughly $131.86 by the end of this quarter and about $123.65 in one year. Yahoo Finance presents an analyst target of about $257.11 for the same horizon. Morningstar, meanwhile, assigns a fair value near $70, reflecting a more conservative view of the multiple given the company’s growth trajectory and profitability profile.
| Method | Value | Notes |
|---|---|---|
| Trading Economics macro model | End-of-quarter: 131.86; 1-year: 123.65 | Macro projections for near-term price path |
| Yahoo Finance target | 1-year target: 257.11 | Analyst consensus target |
| Morningstar fair value | 70.00 | Independent fair value estimate |
| Current price | 136.37 | Anchor point for comparison |
| Forward/Key multiples | Forward P/E 48.46; P/S 54.35; P/B 10.35; EV/Revenue 55.52; EV/EBITDA 203.85 | Forecast-based valuation context |
The spread across these methodologies highlights how differently analysts and models value SpaceX’s growth, AI monetization, and Starlink contribution. They are not interchangeable targets, but they provide a spectrum of plausible paths for the stock’s price in the near term.
Recent catalysts and momentum drivers
A dated look at catalysts helps explain the four-week rally. Reported talks about Boost Mobile and potential wireless initiatives point to connectivity opportunities. A roughly $40 billion GPU leasing deal points to large-scale capital deployment in AI and cloud infrastructure. Momentum in Starlink’s satellite connectivity continues to support enterprise and airline use cases, while Musk’s open-ended comments about a wireless carrier underscore the strategic ambition behind SpaceX’s multi‑product platform. These catalysts align with the Connectivity, AI, and wireless themes that underpin the near-term performance narrative.
Performance context and data notes
There are differing views on near-term returns. Trading Economics shows a 12-month return of +1.01%, while Yahoo’s performance overview contrasts that with a YTD return of 9.09%, a 1-year return of 9.09%, a 3-year return of 9.09%, and a 5-year return of 9.09% for SPCX versus the S&P 500’s 10.17%, 10.25%, 74.66%, and 62.86% in those same periods. The repeated +9.09% figures in the Yahoo table hint at a data limitation or formatting artifact, and the 12-month number from Trading Economics underscores the need to reconcile multiple sources before drawing a single conclusion.
A compact view of the market context is useful here: the stock’s price has moved within a broad range over the past year, and near-term price targets vary widely depending on the methodology. When evaluating forecasts, it’s important to distinguish a macro-model projection from an analyst target or an independent fair value assessment.
| Period | SPCX | S&P 500 |
|---|---|---|
| YTD | 9.09% | 10.17% |
| 1-year | 9.09% | 10.25% |
| 3-year | 9.09% | 74.66% |
| 5-year | 9.09% | 62.86% |
Note that the data’s timing and source vary, and the 12-month figure in Trading Economics should be treated as a distinct methodology from the market-relative performance shown by Yahoo and other providers.
Peer comparison and premium context
Morningstar’s regional peers include Airbus, Northrop Grumman, and EchoStar. Market multiples show SpaceX at higher levels across several measures. For example, SPCX’s normalized trailing P/E is around 228.50 versus Airbus at 25.57 and Northrop Grumman at 17.11. Price/Sales sits at about 55.02 for SpaceX, versus 2.02 for Airbus and 1.82 for Northrop Grumman. Price/Book values are 10.48 for SpaceX, 5.79 for Airbus, and 4.22 for Northrop Grumman. Price/Cash Flow sits at 128.19 for SPCX versus 15.89 for Airbus and 13.20 for Northrop Grumman. These gaps reflect SpaceX’s growth expectations and the premium investors assign to its AI and Starlink-driven margins.
52-week context and earnings timeline
The stock traded within a 52-week range of $104.83 to $225.64, with the high reached on 06/16/26 and the low on 08/03/26. SpaceX reported earnings around October 20–21, 2026, with the most recent quarter framing the near-term price action. The next earnings date, if confirmed, should be verified from the primary sources.
Bull case / Bear case
The bull case rests on a sustained monetization cycle for Starlink and AI, plus improving launch economics as SpaceX scales its operations. Morningstar’s analysis underscores a durable competitive advantage in launch economics, a market-leading position, and a decade-long lead over competitors, which can justify a premium multiple if execution continues to convert growth into earnings. However, the bear case centers on the valuation being highly aggressive relative to observable earnings power. With Morningstar fair value at $70 and the current price around $136, investors should be mindful that earnings may take time to catch up to the market’s pricing, and any material setbacks in Starlink monetization or AI profitability could compress multiples.
Data notes and sources
Price, performance, and fundamentals come from a mix of market data feeds and research services. Key figures cited include current price, 52-week range, volume, earnings date, and consensus targets from Trading Economics, Yahoo Finance, and Morningstar, with supporting figures from market data and news sources. Data points may reflect different reporting conventions (for example, trailing versus forward metrics) and may be time-sensitive.
Important cross-source caveats include discrepancies in 12-month returns across providers and inconsistencies among P/E and fair-value figures. Where relevant, this article presents multiple methodologies side by side to aid interpretation, but they are not interchangeable targets.
Sources cited include the Trading Economics macro model (near-term price path), Yahoo Finance (1-year target and performance overview), Morningstar (Q3 earnings analysis and fair value), and market data feeds for SPCX. All data are time-specific and should be revisited for the latest figures.