Citigroup Raises SPCX Price Target to $240
Key Points
- Citigroup reiterated its Buy rating on Space Exploration Technologies Corp. on October 21, 2026, and raised its price target from $200.00 to $240.00.
- Citigroup's $240 price target implies 50.69% upside from Space Exploration Technologies Corp.'s ($SPCX) current $159.27 share price.
- Space Exploration Technologies Corp. recently traded around $159.27 on October 21, 2026, sitting below its new analyst target.
- Major institutional holders and insiders have actively adjusted their stakes in the aerospace company through recent filings.
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On October 21, 2026, Citigroup reiterated its Buy rating on Space Exploration Technologies Corp. (NasdaqGS: SPCX) while raising its price target from $200.00 to $240.00. According to the firm's research note, the updated outlook comes as Wall Street reassesses the aerospace and defense company's long-term growth potential in connectivity and space infrastructure. The stock closed at $159.31 on the day of the announcement.
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Citigroup's Call on Space Exploration Technologies Corp.
Citigroup's decision to maintain a Buy rating signals continued confidence in the firm's trajectory, moving the price target up to $240.00 from its prior level of $200.00. The updated target suggests the bank sees plenty of room for share price appreciation from current trading levels.
Other Institutional Activity in Space Exploration Technologies Corp.
Large institutional investors have also adjusted their positions in Space Exploration Technologies Corp. recently. Alphabet Inc. grew its holdings by 275,594,750 shares on June 30, 2026, ending with 551,189,500 shares worth about $87,809,997,899.0. Valor Management LLC grew its holdings by 251,707,265 shares on June 30, 2026, ending with 503,414,530 shares worth about $80,198,967,545.0. Vy Capital Management Co. Ltd. grew its holdings by 135,905,750 shares on June 30, 2026, ending with 271,811,500 shares worth about $43,302,289,401.0. Gigafund Management Company, LLC grew its holdings by 85,913,372 shares on June 30, 2026, ending with 171,826,745 shares worth about $27,373,718,326.0. Accurate Wealth Management grew its holdings by 5,214.0 shares on October 20, 2026, ending with 11,029.0 shares worth about $1,727,324.0.
Space Exploration Technologies Corp. Stock Up 9.1%
Space Exploration Technologies Corp. shares recently traded around $159.27 as of October 21, 2026. The stock closed that session at $159.31. The recent price sits roughly 7.3% above its 50-day moving average of $148.44 and about 9.4% above its 200-day moving average of $145.64. Even so, the shares trade well below their 52-week high of $225.64 and remain below Citigroup's newly minted $240.00 price target.
$SPCX price target
Space Exploration Technologies Corp. daily closes and this analyst's $240 target. Not advice.
Recent Earnings
The company reported trailing twelve-month revenue of $23,044,000,000.0 alongside a net profit margin of -35.7% and a year-over-year revenue growth rate of 91.9%.
Insider Buying and Selling at Space Exploration Technologies Corp.
Company insiders have transacted in shares ahead of the recent analyst updates. Chief Executive Officer Elon Reeve Musk sold 11,390.0 shares at a price of $105.32 on April 2, 2026, for a total value of $1,199,572.0. President Gwynne E Shotwell sold 342,170.0 shares on September 22, 2026, valued at $52,546,493.0.
Analysts Set New Price Targets
Wall Street firms remain active in updating their outlooks on the stock alongside Citigroup. Macquarie maintained an Outperform rating with a $250.00 price target on October 21, 2026. UBS maintained a Buy rating and lifted its target from $210.00 to $230.00 on the same day. Barclays maintained an Overweight rating and raised its target from $254.00 to $300.00 on October 21, 2026. JP Morgan maintained an Overweight rating while sharply lifting its target from $240.00 to $500.00 on October 21, 2026. Across the broader analyst community, the stock holds a consensus buy rating with a mean price target of $222.71 based on 31 analyst opinions.
About Space Exploration Technologies Corp.
Space Exploration Technologies Corp. designs, manufactures, and launches advanced rockets and spacecraft, while also operating satellite-based broadband services globally through its space, connectivity, and artificial intelligence segments. The firm's heavy investment in reusable launch systems and orbital networks underpins its expanding footprint in the aerospace and defense sector.
Bottom Line
Citigroup's decision to push its price target to $240.00 highlights growing optimism among major financial institutions regarding the company's long-term market position. Investors will want to watch upcoming earnings reports and future analyst updates to see if the stock can close the gap toward Wall Street's higher valuation targets.
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Source: Citigroup's rating change on $SPCX (Oct 21, 2026). Written by software, not financial advice. How we make alerts