Needham reiterated its Buy rating on SpaceX on Sept. 30 and maintained a $250 price target, citing rapid growth in AI computing revenue as the main driver. According to the report, SpaceX’s disclosed computing deals are expected to translate into an annualized revenue run rate of $54 billion, a figure that the firm said strongly supports management’s goal of reaching $100 billion in total annual recurring revenue, or ARR, by the end of 2026. The note also pointed to progress on the company’s aerospace side. SpaceX’s 14th Starship flight successfully reached orbit and deployed 26 Starlink V3 satellites. Needham said the mission highlighted the company’s ongoing technical edge in rocket recovery and expansion of its satellite constellation. The update combines both financial and engineering milestones in Needham’s latest view on the company.
Needham reiterated its Buy rating on SpaceX on Sept. 30 and kept its $250 price target, according to BlockBeats.
The report said the main driver behind the rating is rapid growth in AI computing revenue. Needham said SpaceX’s disclosed computing deals are expected to generate an annualized revenue run rate of $54 billion, which it said provides strong support for management’s target of reaching $100 billion in total annual recurring revenue by the end of 2026.
On the technical side, SpaceX’s 14th Starship flight successfully reached orbit and deployed 26 Starlink V3 satellites. The report said the mission showed the company’s continued technical strength in rocket recovery and satellite constellation expansion.
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