Needham reiterates SpaceX Buy rating and maintains $250 price target.

BlockBeats news, September 30 — Needham reiterated its Buy rating on SpaceX and maintained a $250 price target, with the core driver being the rapid growth of AI computing revenue.

The report stated that SpaceX's announced computing deals are expected to generate an annualized revenue run rate of $54 billion, strongly supporting management's goal of achieving $100 billion in total ARR by the end of 2026. In addition, Starship's 14th flight successfully reached orbit and deployed 26 Starlink V3 satellites, highlighting SpaceX's continued technological advantages in rocket reusability and satellite constellation expansion.