SpaceX Stock Outlook as Price Jumps Amid Starship’s First Orbital Flight

SpaceX (NASDAQ: SPCX) stock price jumped briefly on September 28 after the company launched its first Starship into orbit.

The successful launch has sparked bullish bets around SPCX stock price, with some analysts noting that buy orders could return depending on the success of this flight.

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SpaceX’s Starship Reaches Orbit Despite Engine Issue

SpaceX launched its next-generation Starship rocket from Texas on September 28. The rocket reached Earth’s orbit for the first time, in a flight expected to last for three hours before returning to Earth.

SpaceX stock price briefly dropped during the launch after reports that one of the engines had failed. Still, Starship managed to reach orbit, in a feat that saw SPCX shares jump briefly to $150 before retreating to trade at $147 at the time of writing.

During the flight, the uncrewed Starship also deployed 26 Starlink v3 satellites into space, with the company’s CEO, Elon Musk, noting that all 26 satellites were “operating nominally.”

The launch is now driving speculation about where the stock could be headed after last week’s decline caused by the unlock of 328 million shares.

In an X post, analyst Randy Kirk noted that the launch would not drive immediate gains for SpaceX stock until investors get an answer to why one of the engines failed early and an insight into whether the next flights would be successful.

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Bernstein Reiterates SPCX Stock Rating on Starlink’s Growth

Bernstein has reiterated an outperform rating on SpaceX stock price and maintained a $248 target because of Starlink.

The firm believes that Starlink’s broad-based business could generate $64 billion in revenue by 2031 amid optimism that the segment could double its subscriber base in 2026.

Per the investment firm, Starlink would reach 168 million subscribers in 2031, with this being an over ten times increase from the 12 million global subscribers that the company reported in its Q2 2026 results.

Bernstein’s outperform rating comes barely a week after Nasdaq 100 increased its SpaceX stock weighting from 1.28% to 2.82% on September 21.

An earlier report by CoinGape also noted that Mizuho and Morgan Stanley have also assigned a buy rating to SpaceX stock.

SpaceX Stock Price Tests Support as Buying Pressure Cools

SpaceX stock price has dropped below a sell wall between $151 and $154. This drop coincides with a decline in the RSI reading to below 50.

If the Starship flight does not attract a surge in buying pressure, SPCX stock could return to the downtrend that started on September 22, especially if other stocks inch lower because of rising oil prices.

A drop will push SpaceX stock price to the lower Bollinger band of $143 on the four-hour chart.

However, if SpaceX stock price can move above the resistance at $150 on optimism that future Starship flights will be a success, it could retest the resistance at between $151 and $154.