SpaceX shares gained 3% to $149.24 on Wednesday after Needham reaffirmed its Buy rating and $250 price objective. Following discussions with SpaceX’s investor relations department, Needham said most publicly announced AI computing contracts should begin scaling in the fourth quarter of 2026, with at least one agreement starting operations in December. The contracts could produce about $54 billion in annualized revenue on a run-rate basis, compared with management’s goal of roughly $100 billion in total annual recurring revenue before 2027 and trailing 12-month revenue of $23 billion. Wall Street analysts forecast 144% revenue growth for fiscal 2026, although Needham reduced its projections for the second half of 2026 and into 2027 because contract renewals are irregular. Analysts’ price targets range from $140 to $450, while InvestingPro’s valuation framework indicates that SPCX trades above its calculated Fair Value metric. SpaceX’s 14th Starship mission reached orbit on September 28, deployed 26 operational Starlink V3 satellites and completed a controlled ocean landing in the Pacific. Bernstein, Mizuho, BofA Securities and UBS maintained bullish ratings, while UBS forecast third-quarter revenue of $13.8 billion and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $7.5 billion. SpaceX’s market capitalization is near $2 trillion.