Analyst Consensus ?
ConsensusBuy15 ratings
Bullish1280.0%
Neutral320.0%
Bearish00.0%
Space Exploration Technologies Corp. · SPCX · FY2026 Q3 · Calendar Q4 2026
SPCX Q3 2026: Starlink and AI Compute Drive Expansion
The supplied analysis supports a constructive but execution-dependent view: management described strong demand and expansion across connectivity and AI services, while the next year hinges on converting ambitious launch, compute, and product plans into reliable operations.
Reported After market closeNASDAQIndustrials
$2559.80B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $0.13
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $12.87B
Revenue surprise
—
Reported versus consensus
Market reaction
close-to-close (session unavailable)
Stock move
-0.1%
Event window
SPY move
+0.3%
Same window
Abnormal move
-0.5%
Stock minus SPY
Volume
1.4×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
SPCXSPY benchmark
Ask FN2 about SPCX FY2026 Q3
Transcript, numbers and history already loaded
What drove SPCX's -0.1% move after FY2026 Q3 earnings?What changed in SPCX's guidance and outlook in FY2026 Q3?Give me the bull and bear case for SPCX after FY2026 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, the emphasis shifted toward faster execution and higher capital intensity. The current analysis adds a 10–13 GW compute target by end-2027, a planned 20 GW power-and-cooling capacity, Starship cadence goals, Mobile V2 expansion, and Terafab development.
Guidance delta
Raised; management's outlook centers on faster Starship cadence, broader Starlink services, and rapid compute expansion.
Key takeaways
- Management described strong momentum across Starlink, aviation connectivity, and Super Intelligence services.
- The plan calls for materially higher compute capacity, with a 10–13 GW target by end-2027 and a 20 GW power-and-cooling plan.
- Execution is broadening: Starship cadence, Mobile V2, the Louisiana site, Terafab, and Cursor integration are all priorities.
Management priorities
- Increase Starship launch cadence and advance full reusability.
- Scale V3 broadband satellites, Mobile V2, and aviation connectivity.
- Expand compute infrastructure and deploy enterprise Grok and Cursor offerings.
- Advance Terafab, the Louisiana launch site, and related regulatory approvals.
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Analyst 52W Price Targets
$147.79Current
$75Low
$218.94Average
$450High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 21, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Evercore ISI Group | Outperform | Outperform | Maintain | Oct 16, 2026 |
| TD Cowen | Buy | Buy | Maintain | Oct 9, 2026 |
| Susquehanna | Neutral | Neutral | Maintain | Oct 7, 2026 |
| Macquarie | Outperform | Outperform | Maintain | Sep 30, 2026 |
| Deutsche Bank | Buy | Buy | Maintain | Sep 28, 2026 |
| MoffettNathanson | Neutral | Neutral | Maintain | Sep 14, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Sep 8, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Sep 2, 2026 |
| Wolfe Research | Outperform | Outperform | Maintain | Aug 26, 2026 |
| UBS | Buy | Buy | Maintain | Aug 17, 2026 |
| Argus Research | Buy | Hold | Upgrade | Aug 7, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Aug 5, 2026 |
| Needham | Buy | Buy | Maintain | Aug 5, 2026 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Aug 5, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Aug 3, 2026 |
Named analyst price targets
Upside is calculated against the persisted current price $147.79. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Evercore ISI | Kutgun Maral | $275 | $148.62 | +86.1% | Oct 16, 2026 |
| Pivotal Research | Jeffrey Wlodarczak | $230 | $162.57 | +55.6% | Oct 12, 2026 |
| Barclays | Analyst unavailable | $254 | $160.57 | +71.9% | Oct 8, 2026 |
| Susquehanna | Analyst unavailable | $173 | $167.54 | +17.1% | Oct 7, 2026 |
| CLSA | Analyst unavailable | $250 | $146.38 | +69.2% | Sep 28, 2026 |
| MoffettNathanson | Analyst unavailable | $142 | $151.21 | -3.9% | Sep 14, 2026 |
| Wells Fargo | Analyst unavailable | $212 | $147.95 | +43.4% | Sep 8, 2026 |
| Pivotal Research | Jeffrey Wlodarczak | $220 | $147.95 | +48.9% | Sep 8, 2026 |
| Oppenheimer | Analyst unavailable | $280 | $142.23 | +89.5% | Sep 2, 2026 |
| Wolfe Research | Emilee Deutchman | $175 | $137.95 | +18.4% | Aug 26, 2026 |
| Phillip Securities | Glenn Thum | $75 | $140 | -49.3% | Aug 17, 2026 |
| Arete Research | Analyst unavailable | $450 | $138.74 | +204.5% | Aug 11, 2026 |
| Argus Research | Steve Silver | $160 | $114.92 | +8.3% | Aug 7, 2026 |
| Bernstein | Analyst unavailable | $248 | $108.27 | +67.8% | Aug 6, 2026 |
| Wells Fargo | Analyst unavailable | $215 | $125.33 | +45.5% | Aug 5, 2026 |
| Piper Sandler | Alexander Potter | $140 | $125.33 | -5.3% | Aug 5, 2026 |
| HSBC | Nicolas Cote-Colisson | $115 | $118.24 | -22.2% | Jul 23, 2026 |
| Morgan Stanley | Analyst unavailable | $225 | $135.27 | +52.2% | Jul 16, 2026 |
| Piper Sandler | Analyst unavailable | $156 | $135.27 | +5.6% | Jul 15, 2026 |
| Needham | Analyst unavailable | $250 | $136.08 | +69.2% | Jul 15, 2026 |
| Evercore ISI | Analyst unavailable | $230 | $139.14 | +55.6% | Jul 14, 2026 |
| Cantor Fitzgerald | Colin Canfield | $246 | $160.42 | +66.5% | Jul 7, 2026 |
| Deutsche Bank | Analyst unavailable | $255 | $160.42 | +72.5% | Jul 7, 2026 |
| Macquarie | Analyst unavailable | $250 | $160.42 | +69.2% | Jul 7, 2026 |
| MoffettNathanson | Julie Zhu | $131 | $160.42 | -11.4% | Jul 7, 2026 |
| Bernstein | Analyst unavailable | $239 | $160.42 | +61.7% | Jul 7, 2026 |
| Needham | Analyst unavailable | $200 | $160.42 | +35.3% | Jul 7, 2026 |
| RBC Capital | Analyst unavailable | $225 | $160.42 | +52.2% | Jul 7, 2026 |
| UBS | Analyst unavailable | $210 | $160.42 | +42.1% | Jul 7, 2026 |
| Stifel Nicolaus | Jonathan Siegmann | $190 | $160.42 | +28.6% | Jul 7, 2026 |
| Mizuho Securities | Analyst unavailable | $200 | $160.42 | +35.3% | Jul 7, 2026 |
| Wells Fargo | Ken Gawrelski | $230 | $160.42 | +55.6% | Jul 7, 2026 |
| Goldman Sachs | Analyst unavailable | $205 | $160.42 | +38.7% | Jul 7, 2026 |
| Morgan Stanley | Adam Jonas | $300 | $160.42 | +103.0% | Jul 7, 2026 |
| Daiwa | Analyst unavailable | $175 | $157.54 | +18.4% | Jul 2, 2026 |
| Wedbush | Analyst unavailable | $190 | $170.86 | +28.6% | Jun 30, 2026 |
| Susquehanna | Analyst unavailable | $170 | $154.6 | +15.0% | Jun 23, 2026 |
| Oppenheimer | Timothy Horan | $250 | $191.82 | +69.2% | Jun 18, 2026 |
| Arete Research | Andrew Beale | $401 | $191.82 | +171.3% | Jun 18, 2026 |
| Oppenheimer | Timothy Horan | $190 | $135 | +28.6% | Jun 11, 2026 |
| New Street | Pierre Ferragu | $165 | $135 | +11.6% | Jun 10, 2026 |
Track every rating change on SPCX the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationSpace Exploration Technologies Corp. designs, manufactures, and launches rockets and spacecraft, and provides satellite-based broadband services in the United States, Ireland, and Canada. The company offers launch services for satellites, cargo, and crew to destinations such as low Earth orbit, the International Space Station, the Moon, and Mars, using vehicles, including Falcon 9, Falcon Heavy, and Starship. It provides dedicated rideshare missions for small satellites, manufactures reusable rockets and spacecraft, such as Dragon and Starship, and conducts suborbital and orbital flight tests.…
Historical context
All SPCX earningsIndustrials peers this season
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| NOC Northrop Grumman Corporation | FY2026 Q3 · Calendar Q4 2026 | — | +5.1% | Northrop Grumman Raises Guidance as Backlog Reaches $110B |
| EFX Equifax Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +11.4% | Equifax: AI-led margin gains offset weaker mortgage outlook |
| GE GE Aerospace | FY2026 Q3 · Calendar Q4 2026 | — | -2.1% | GE Aerospace: Strong Q3 Growth, Raised Guidance, Capacity Risks |
Latest beats and misses
Who reports nextBeat on EPS
Missed on EPS
- AGNCMFY2026 Q3 · October 19, 2026-0.6% EPS-0.3% move
- STLDFY2026 Q3 · October 19, 2026-4.0% EPS-0.3% move
- AGNCFY2026 Q3 · October 19, 2026-0.6% EPS+4.1% move
- HDBFY2027 Q2 · October 17, 2026-2.0% EPS— move
- TFC-PIFY2026 Q3 · October 16, 2026-50.9% EPS— move
- TFC-POFY2026 Q3 · October 16, 2026-50.9% EPS— move
Get the SPCX recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-10-21T00:05:29.145395+00:00
- FN2 earnings calendar · 2026-10-20T01:23:14.154112+00:00
- Polygon adjusted daily market bars · 2026-10-21T01:20:42.920790+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-21T01:20:42.918083+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-21. For educational purposes only; not investment advice.