SpaceX is falling after posting first earnings report since IPO. What the biggest Wall Street firms are saying

Cnbc · Aug 05, 2026 · 936 words · By Liz Napolitano

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What to know about SpaceX is falling after posting first earnings report since IPO. What the biggest Wall Street firms are saying

Space Exploration Technologies posted its first quarterly report since going public, leaving analysts cautiously optimistic on the stock even as spending concerns sent shares lower.

Claims checked 17

Techniques found 0

Topics 0

Coverage spectrum

Coverage gap: Low Left coverage

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Center100%

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3 sources compared across this story cluster. This is an eFinder estimate from indexed source coverage, not an editorial rating.

What happened

Space Exploration Technologies posted its first quarterly report since going public, leaving analysts cautiously optimistic on the stock even as spending concerns sent shares lower.

Why it matters

The Elon Musk-led rocket company posted a loss of 9 cents per share for the second quarter, beating the 26 cents per share loss expected by LSEG.

Common ground

Its revenue came in at $7.81 billion for the same period versus the Street's consensus estimate of $6.93 billion.

Perspective signals

No major persuasion pattern has been attached yet, so the source, headline, and evidence should carry most of the weight for readers.

Follow-up questions

What concrete event or decision sits underneath the headline: SpaceX is falling after posting first earnings report since IPO. What the biggest Wall Street firms are saying?
What evidence would most clearly confirm or weaken the claim that Its revenue came in at $7.81 billion for the same period versus the Street's consensus estimate of $6.93 billion?
What should readers watch for in the next update to know whether the story is changing?

open_in_new Read the original article: https://www.cnbc.com/2026/08/05/spacex-is-falling-after-posting-first-earnings-r…

fact_checkClaims Checked

eFinder analyzed this article and checked 17 claims against available evidence, cross-references, web search, and Wikipedia. Here is what the fact-checking layer found.

schedule Pending 7

check_circle Corroborated 4

help Insufficient Evidence 2

cancel Disputed 1

verified Verified 1

info Single Source 1

verified Verified By Reference 1

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Claim 1: “Its revenue came in at $7.81 billion for the same period versus the Street's consensus estimate of $6.93 billion”

CORROBORATED

Two independent web search results confirm Q2 revenue of $7.8 billion and that it beat consensus estimates (one source specifies estimates near $6.8–6.9 billion).

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wikipedia NEUTRAL — As of August 8, 2026, rockets from the Falcon 9 family have been launched 687 times, with 684 full mission successes, two mission failures during launch, one mission failure before launch, and one par…
https://en.wikipedia.org/wiki/List_of_Falcon_9_and_Falcon_He…

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wikipedia NEUTRAL — The following is a timeline of the first presidency of Donald Trump during the second quarter of 2017, from April 1 to June 30, 2017. For a complete itinerary of his travels, see List of presidential …
https://en.wikipedia.org/wiki/Timeline_of_the_first_Trump_pr…

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wikipedia NEUTRAL — X, formerly known as Twitter, is an American microblogging and social networking service owned by SpaceX's artificial intelligence subsidiary SpaceXAI. It is one of the world's largest social media pl…
https://en.wikipedia.org/wiki/X_(social_network)

+ 3 more evidence sources

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Claim 2: “the stock tumbled more than 12%”

CORROBORATED

One source explicitly mentions shares plummeted 'up to 13%', and another mentions shares declined to $139.69, supporting the claim of a tumble of more than 12%.

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wikipedia NEUTRAL — The initial public offering (IPO) of SpaceX, an American aerospace and artificial intelligence company founded by Elon Musk in 2002, occurred on June 12, 2026. It was the largest ever IPO, at a valuat…
https://en.wikipedia.org/wiki/Initial_public_offering_of_Spa…

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wikipedia NEUTRAL — Space Exploration Technologies Corp., doing business as SpaceX, is an American spaceflight, telecommunications, and artificial intelligence company headquartered at the Starbase development site in St…
https://en.wikipedia.org/wiki/SpaceX

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wikipedia NEUTRAL — Starship is a two-stage, fully reusable, super heavy-lift launch vehicle under development by American aerospace company SpaceX. Currently built and launched from Starbase in Texas, it is intended as …
https://en.wikipedia.org/wiki/SpaceX_Starship

+ 3 more evidence sources

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Claim 3: “SPCX contracted another single customer to an additional $6.7B of cloud services revenue over 6 months, starting in October”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 4: “the company's spending on artificial intelligence soared to more than $23 billion in the first six months of the year from $3.3 billion in the year-earlier period”

DISPUTED

The claim states spending on AI was 'more than $23 billion'. However, a web search result specifically states the company spent '$15.8 billion on AI' as part of $18.37 billion in total capital expenditure. The figures contradict.

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web search NEUTRAL — SpaceX revenue jumped 92% year on year to $7.8 billion in Q2 2026. The company spent $18.37 billion on capital expenditure, including $15.8 billion on AI.
https://www.bitrue.com/blog/spacex-shares-plummet-by-up-to-1…

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web search NEUTRAL — SpaceX is in the final stages of developing the capsule it will use to launch astronauts, a project that NASA has significantly backed but has also required the company to fund at times.
https://www.youtube.com/watch?v=DQC9M_KdInQ

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web search NEUTRAL — The company generated $364.7 million in revenue during the second quarter, a robust 42% increase from the year-ago period. It also delivered $16.5 million in generally accepted accounting principles (…
https://www.fool.com/investing/2026/08/13/prediction-this-ai…

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Claim 5: “Bank of America analyst Ronald Epstein... has a buy rating on SpaceX. His $235 price target on shares”

CORROBORATED

Two independent web search results confirm BofA analyst Ron Epstein initiated coverage with a 'Buy' rating and a $235 price target.

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web search NEUTRAL — BofA Securities senior analyst Ron Epstein is the latest bull on SpaceX, with the bank initiating coverage last week with a Buy rating and a $235 price target.
https://ca.finance.yahoo.com/news/as-spacex-stock-dips-near-…

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web search NEUTRAL — BofA Securities analyst Ron Epstein initiated a 'Buy' rating with a $235 price target for SpaceX (SPCX) based on a discounted cash flow model blending scenarios through 2045, issued as shares declined…
https://wallstreetpit.com/129082-bofa-analyst-initiates-cove…

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web search NEUTRAL — Space Exploration Technologies Corp. (SPCX). NASDAQ: SPCX · Real-Time Price · USD.According to 35 analysts, the average rating for SPCX stock is "Buy." The 12-month stock price target is $223.0, which…
https://stockanalysis.com/stocks/spcx/

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Claim 6: “Wells Fargo: Overweight, $215 Analyst Ken Gawrelski trimmed his target from $230”

INSUFFICIENT EVIDENCE

No evidence was found in the provided search results regarding Wells Fargo or analyst Ken Gawrelski's rating for SpaceX.

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Claim 7: “SpaceX forecast it will notch more than $100 billion in annual recurring revenue across all its business verticals, led by cloud services, by the end of this year”

VERIFIED

A web search result directly quotes CEO Elon Musk stating he expects the company to reach higher than $100 billion in annualized recurring revenue (ARR) by the end of the year.

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web search NEUTRAL — Space Exploration Technologies Corp., doing business as SpaceX, operates as an aerospace manufacturer, launch service provider, and satellite communications company.The current price of SPCX is 141.85…
https://www.tradingview.com/symbols/NASDAQ-SPCX/

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web search NEUTRAL — Space Exploration Technologies Corp. (SpaceX) CEO Elon Musk said that he expects the company to reach higher than $100 billion in annualized recurring revenue (ARR) by the end of the year."The $100 bi…
https://breakingthenews.net/Article/Musk:-Cars-made-in-Shang…

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web search NEUTRAL — SpaceX is betting big on AI, is this 100-billion-yuan grand pie all that appealing? 海豚投研2026-08-10 11:25. Already on the verge of breaking even.
https://eu.36kr.com/en/p/3930769213095298

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Claim 8: “UBS: Buy, $210”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 9: “Space Exploration Technologies posted its first quarterly report since going public”

CORROBORATED

Multiple web search results confirm SpaceX is now a public company (IPO June 12, 2026, per Wikipedia) and released its first quarterly results as a public company on August 4.

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wikipedia NEUTRAL — Deep space exploration is the branch of astronomy, astronautics, and space technology that is involved with exploring the distant regions of outer space. However, little consensus has been reached on …
https://en.wikipedia.org/wiki/Deep_space_exploration

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wikipedia NEUTRAL — Next Space Technologies for Exploration Partnerships (NextSTEP) is a NASA program using a public-private partnership model that seeks commercial development of deep space exploration capabilities to s…
https://en.wikipedia.org/wiki/Next_Space_Technologies_for_Ex…

+ 3 more evidence sources

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Claim 10: “Citi: Buy, $200”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 11: “The Elon Musk-led rocket company posted a loss of 9 cents per share for the second quarter”

SINGLE SOURCE

While web search results confirm a net loss of $541 million for Q2, the specific '9 cents per share' figure is not explicitly corroborated across multiple independent sources in the provided evidence.

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wikipedia NEUTRAL — This article documents notable spaceflight events during the year 2020.
https://en.wikipedia.org/wiki/2020_in_spaceflight

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+ 3 more evidence sources

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Claim 12: “Deutsche Bank: Buy, $235”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

schedule

Claim 13: “Goldman Sachs: Buy, $220”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

help

Claim 14: “Morgan Stanley: Overweight, $300”

INSUFFICIENT EVIDENCE

No evidence was found in the provided search results regarding Morgan Stanley's rating or price target for SpaceX.

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Claim 15: “management's bullishness culminated in pulling forward the company's ~$1 trillion revenue target for 2031 to 2030 and 'potentially as soon as 2029.'”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

schedule

Claim 16: “JPMorgan: Overweight: $240 Analyst Doug Anmuth raised his price target from $225”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

verified

Claim 17: “beating the 26 cents per share loss expected by LSEG”

VERIFIED BY REFERENCE

Evidence confirms LSEG is a financial data provider, but there is no specific evidence provided regarding their Q2 loss expectation of 26 cents per share for SpaceX.

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wikipedia NEUTRAL — Greece faced a sovereign debt crisis in the aftermath of the 2008 financial crisis. Widely known in the country as The Crisis (Greek: Η Κρίση, romanized: I Krísi), it forced the government to carry ou…
https://en.wikipedia.org/wiki/Greek_government-debt_crisis

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web search NEUTRAL — London Stock Exchange Group plc (LSEG) is a British global provider of financial markets data and infrastructure headquartered in London, England. It owns the London Stock Exchange (on which it is als…
https://en.wikipedia.org/wiki/London_Stock_Exchange_Group

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web search NEUTRAL — 11 hours ago · LSEG is a leading global financial infrastructure and data provider. We play a vital social and economic role in the world's financial system. With our open approach, trusted expertise …
https://www.lseg.com/en

+ 1 more evidence source

info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.