SpaceX (SPCX) stock jumped about 8% on Wednesday after the aerospace company impressed investors with its Q3 results. Moreover, CEO Elon Musk said that SpaceX and electric vehicle (EV) maker Tesla (TSLA) have formed special committees to discuss a potential merger. Encouraged by SpaceX's performance and key updates, analysts (rated 5-star on TipRanks) at JPMorgan (JPM), Goldman Sachs (GS), and Cantor Fitzgerald raised their price targets for SPCX stock.

JPMorgan and Cantor Fitzgerald Analysts Are Bullish on SPCX Stock

Following the Q3 2026 print, JPMorgan analyst Doug Anmuth reiterated a Buy rating on SPCX stock and raised his price target to a Street-high of $500 from $240. The 5-star analyst noted that the company surpassed revenue expectations across its three segments, delivering overall revenue growth of 161% year-over-year. The analyst expects Super Intelligence, mainly supported by an accelerated pace of compute buildout, to be the primary growth driver.

Anmuth noted that SpaceX now expects to end this year with 2-3 GW of compute and to build nearly 10 GW of incremental capacity in 2027, bringing the total to about 13 GW, well above the previously expected 5 to 10 GW range.

Likewise, Cantor Fitzgerald analyst Colin Canfield reiterated a Buy rating on SpaceX stock and increased his price target to $345 from $246. The 5-star analyst significantly raised his estimates after management provided notably higher-than-expected revenue commentary for year-end 2027 and strong semiconductor supply chain timelines. Canfield also cited an upbeat free cash flow trajectory.

Specifically, Canfield noted that management said SpaceX could reach up to $1 trillion in annual recurring revenue (ARR) by the end of 2027, supported by plans to bring about 10 GW of incremental compute capacity online and pricing of more than $50 per watt for new compute contracts.

Goldman Sachs Raises SPCX Stock Price Target

Like Anmuth and Canfield, Goldman Sachs analyst Eric Sheridan also raised his price target on SpaceX stock to $245 from $230 and reiterated a Buy rating. The 5-star analyst increased his operating estimates after the Q3 2026 results and highlighted the update about SpaceX and Tesla forming special committees to discuss a potential merger.

Sheridan believes that SpaceX is well-positioned to expand its "differentiated advantages" across its space, connectivity, and AI businesses, with each of these segments having the potential to evolve into multiple trillion-dollar opportunities over the next 5+ years.

Looking ahead, Sheridan expects the stock's performance to depend on:

• Starship launches, with a focus on reuse and frequency trends.
• Connectivity broadband user growth and medium-term expansion plans for broader mobility services.
• Ability to meet increased terrestrial compute expansion goals with strong monetization, driven by a favorable pricing backdrop for cloud services and higher demand for offerings such as Cursor, Grok, and GrokBot.
• Trading dynamics and stock movements tied to lock-up expirations.

Is SPCX Stock a Good Buy Now?

Overall, Wall Street has a Moderate Buy consensus rating on SpaceX stock based on 28 Buys, six Holds, and two Sells. The average SPCX stock price target of $238.23 implies 49.5% upside potential.