TD Cowen Raises SPCX Price Target to $224

On October 21, 2026, TD Cowen reaffirmed its positive stance on Space Exploration Technologies Corp. (NasdaqGS:SPCX), keeping a Buy rating while lifting its price target from $200.00 to $224.00. The update arrived as part of a busy day of research notes across Wall Street for the aerospace and defense company.

SPCX Space Exploration Technologies Corp.

$147.96 ▲ +19.33% past 3 months

1M 3M

Daily close · Oct 19, 2026

TD Cowen's Call on Space Exploration

In its October 21, 2026 research note, TD Cowen pointed to continued confidence in the firm by maintaining its Buy rating and boosting the target by $24.00. Analyst ratings reflect forward-looking expectations for business performance, and this adjustment signals a higher outlook for the rocket maker and satellite internet provider.

Other Institutional Activity in Space Exploration

Large funds and institutions continue to adjust their holdings in the aerospace company. Accurate Wealth Management grew its holdings by 5,214 shares, ending with 11,029 shares worth about $1,727,324. Alphabet Inc. expanded its stake by 275,594,750 shares to reach 551,189,500 shares valued at roughly $89,788,766,185. Valor Management LLC lifted its position by 251,707,265 shares, resulting in 503,414,530 shares worth about $82,006,223,864. Vy Capital Management Co. Ltd. added 135,905,750 shares to hold 271,811,500 shares valued at approximately $44,278,091,690. Gigafund Management Company, LLC increased its stake by 85,913,372 shares, finishing with 171,826,745 shares worth about $27,990,575,711.

Space Exploration Technologies Corp. Stock Up 10.4%

The shares recently traded around $161.28 as of October 21, 2026, closing that day at $162.90. The recent price sits about 8.6% above its 50-day moving average of $148.44 and roughly 10.7% above its 200-day moving average of $145.64. The stock trades below its 52-week high of $225.64 and well above its 52-week low of $104.83.

Recent Earnings

For the trailing twelve months, the company generated $23.04 billion in revenue alongside a net loss, yielding a negative net profit margin of 35.7% and basic earnings per share of -$1.10.

Dividend

The company does not currently pay a dividend, keeping its payout ratio at 0.0% as it reinvests capital into its space and connectivity operations.

Insider Buying and Selling at Space Exploration Technologies Corp.

Executive insider transactions earlier in the year included Chief Executive Officer Elon Reeve Musk selling 11,390 shares on April 2, 2026, at $105.32 per share for a total value of $1,199,572. Later, President Gwynne E Shotwell sold 342,170 shares on September 22, 2026, valued at $52,546,493.

Analysts Set New Price Targets

Other Wall Street firms adjusted their views on October 21, 2026. Macquarie maintained its Outperform rating with an unchanged target of $250.00. Evercore ISI Group kept an Outperform rating while raising its target from $275.00 to $300.00. Wells Fargo maintained an Overweight rating and lifted its target from $214.00 to $274.00. Keybanc reiterated a Sector Weight rating without specifying a target, while Susquehanna maintained a Neutral rating and moved its target from $173.00 to $176.00. Overall, the stock carries a consensus Buy rating from 31 analysts, with a mean price target of $222.71.

About Space Exploration

Headquartered in Starbase, Texas, Space Exploration Technologies Corp. designs, builds, and launches reusable rockets while operating satellite-based broadband services across international markets. The company operates through space, connectivity, and artificial intelligence segments, driving massive infrastructure growth in low-earth orbit and beyond.

Bottom Line

TD Cowen's upward revision to $224 adds to a generally favorable outlook from Wall Street analysts. Investors will monitor upcoming earnings reports and institutional filing updates to track whether the company's rapid revenue growth translates into improved profitability.