Key TakeawaysSpaceX (SPCX) shares ended Monday’s session at $145.47, declining 3% despite a historic achievement.The company’s 14th Starship test successfully achieved orbit and released 26 next-generation Starlink satellites.An engine malfunction on the upper stage occurred during ascent, resulting in a truncated mission duration.TD Cowen initiated analyst coverage with a buy recommendation and $200 price objective, highlighting AI computing leasing expansion.Approximately 76% of Wall Street analysts recommend purchasing SpaceX shares, significantly exceeding the S&P 500 benchmark.Shares of SpaceX (SPCX) finished Monday’s trading at $145.47, registering a 3% decline. The drop occurred immediately following the company’s successful first orbital insertion with its Starship launch vehicle.Space Exploration Technologies Corp., SPCXThis fourteenth test mission represented a pivotal achievement for the reusable launch system. The flight successfully delivered 26 advanced Version 3 Starlink satellites to their designated orbit.Previous Starship attempts failed to attain the velocity required for orbital insertion. During this flight, the spacecraft maintained altitude sufficiently to complete satellite deployment operations.A single engine on the spacecraft’s upper section malfunctioned during the ascent phase. Engineers continued the mission trajectory despite the anomaly, although mission duration was reduced from original projections.SpaceX shares climbed to an intraday peak of $150.80 immediately following launch initiation. The gains evaporated by mid-morning as the stock reversed course and traded lower through the closing bell.Market Reaction To Orbital MilestoneFinancial markets had already incorporated expectations of a successful test outcome into current valuations. The abbreviated mission timeline provided justification for some market participants to realize gains.Both the S&P 500 and Dow Jones Industrial Average declined approximately 1% during the same trading session. SpaceX shares demonstrated weaker performance relative to both major indices.SpaceX continues to dominate global commercial launch operations. The organization conducted 165 Falcon 9 missions throughout 2025 and anticipates maintaining comparable launch frequency this year.Chief Executive Elon Musk indicated via social media that achieving hourly Starship launch frequency remains two to three years in the future. Such operational tempo would provide SpaceX with substantial cost advantages compared to terrestrial data center infrastructure.Analyst Community Focuses On AI Revenue StreamTD Cowen launched analyst coverage of SpaceX shares Monday, assigning a buy recommendation alongside a $200 valuation target. The investment bank emphasized SpaceX’s ground-based artificial intelligence computing rental operations as the company’s most rapidly expanding revenue category.Technology companies including Google and Anthropic currently utilize this leasing platform. TD Cowen projects AI computing rentals will constitute the majority of SpaceX’s total revenues by the opening quarter of 2027.SpaceX generated $23 billion in total revenue during the trailing twelve-month period. Wall Street analysts project 144% revenue expansion for fiscal year 2026.TD Cowen’s bullish stance aligns with other research firms. CLSA similarly initiated coverage Monday with a buy rating and $250 price objective.Additional investment banks have expressed comparable enthusiasm in recent weeks. Bernstein SocGen forecasts Starlink’s internet connectivity division will generate approximately $64 billion annually by 2031.Mizuho maintained its outperform recommendation as well, emphasizing SpaceX’s competitive pricing advantages. William Blair and Clear Street similarly sustained positive outlooks following the Starship orbital test.SpaceX shares command among the strongest analyst support on Wall Street. Roughly 76% of covering analysts assign buy-equivalent ratings, substantially higher than the 55% to 60% range typical for S&P 500 constituents.The consensus analyst price target for SpaceX stock stands at approximately $224. This represents significant upside potential from Monday’s closing price.The post SpaceX (SPCX) Stock Slides 3% Despite Historic Starship Orbital Achievement appeared first on Blockonomi.