Space Exploration Technologies Corp. Class A Common StockSpaceX stock rebounded to IPO price after better-than-expected Q2 revenue and CFO's projection of $100B ARR, with Citi raising estimates.

SpaceX stock touched its $135 initial public offering price on Monday for the first time since July 15, recovering from a stretch of turbulent trading that had sent the stock well below its June debut price. The stock briefly hit the $135 level in early trading after closing as low as $108.27 in recent days. The rebound follows better-than-expected second-quarter revenue of $7.81 billion, surpassing analyst estimates of $6.93 billion, and CFO Bret Johnsen's projection that the company is on pace to reach $100 billion in annualized recurring revenue by year-end. Despite the strong results, the stock faced pressure last week when its first lockup period expired, making more than 911 million shares available for sale by early investors, a figure larger than the 639 million shares sold in the IPO. A notable shift in retail behavior emerged Friday when individual investors turned net sellers for the first time since the June 12 market debut, offloading a net $4.5 million worth of shares, according to Vanda Research data cited by Yahoo Finance. Citi analysts lifted their 2026 and 2027 estimates and maintained a buy rating with a $200 price target, while Wolfe Research urged caution about management's projections.
Space Exploration Technologies Corp. Class A Common StockSpaceX stock rebounded to IPO price after better-than-expected Q2 revenue and CFO's projection of $100B ARR, with Citi raising estimates.
Citigroup Inc.