Needham Reiterates Buy Rating and $250 Target on SpaceX Amid Bullish Growth Projections

Needham analyst Ryan Koontz has reiterated a Buy rating on Space Exploration Technologies Corp. with a $250 price target. With shares trading around $149.24, the target indicates an estimated 67.52% upside. The optimism is supported by artificial intelligence compute transactions estimated to generate a $54 billion annualized revenue run rate toward management's $100 billion annualized recurring revenue target by late 2026. Despite SPCX shares sliding more than 33% from their post-IPO peak, a TipRanks consensus of 34 analysts maintains a Moderate Buy rating with an average $233.10 price target.