Space Exploration Technologies Corp (NASDAQ:SPCX) is targeting a human Moon landing in 2028, but one Wall Street analyst says investors remain skeptical of the timeline.
SpaceX Targets ‘Boots on the Moon’ in 2028
On Tuesday, SpaceX reported its first quarterly results as a public company.
During the earnings call, CEO Elon Musk said SpaceX must first make Starship "super reliable" for satellite launches before carrying people.
He added that the company expects a high launch cadence to help it reach the safety level required for human spaceflight, potentially by the end of 2027.
President and Chief Operating Officer Gwynne Shotwell said in-orbit propellant transfer remains critical to both SpaceX’s internal operations and its Human Landing System ambitions.
She said SpaceX plans to follow its Artemis III mission with an uncrewed lunar cargo mission and aims to put "boots on the Moon" in 2028.
Gene Munster Says Investors Remain Skeptical
Deepwater Asset Management’s managing partner, Gene Munster, took to X and said the 2028 target broadly aligns with previous expectations, but argued that investors have not fully priced in the possibility.
"Gwynne says boots on the Moon in 2028," Munster wrote on X. "My take: Inline with roughly what has been talked about before and the market doesn’t believe it."
Munster assigned a 70% probability to a 2028 landing and said he sees a 95% chance that SpaceX reaches the milestone by 2029.
He added that the prospect of a lunar landing could provide ongoing support for SpaceX shares, calling the Moon "the carrot" that could give the stock a "perpetual bid."
Musk Shifts SpaceX’s Focus Toward the Moon
Musk said in February that SpaceX had shifted its near-term focus to building a self-sustaining city on the Moon, estimating that such a project could be completed in less than a decade.
He contrasted that with Mars, which he said could take 20 years or longer.
The comments followed a Wall Street Journal report that SpaceX had told investors it planned to prioritize lunar missions over its long-standing Mars ambitions. The company is also reportedly targeting an uncrewed Moon landing as early as March 2027.
In May, Musk backed NASA’s plans to establish a lunar base as the agency prepares to return astronauts to the Moon through its Artemis program. NASA said the base would serve as a habitat where astronauts can live and work during long-term scientific missions.
SpaceX Q2 Earnings: Revenue Soars 92%, Beats Wall Street Estimates
SpaceX generated $7.81 billion in second-quarter revenue, representing a 92% increase from the prior-year period and surpassing Wall Street’s $6.93 billion estimate.
The company posted a loss of 9 cents per share, narrower than analysts’ expected loss of 24 cents per share.
SpaceX ended the quarter with $100 billion in cash and cash equivalents, while its total backlog stood at $47.5 billion.
Price Action: SpaceX shares closed Tuesday’s session up 9.43% at $125.33 and fell 7.46% to $115.98 in after-hours trading, according to Benzinga Pro.
According to Benzinga Edge Stock Rankings, SpaceX shares continue to show a bearish price trend across the short-, medium- and long-term.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Thrive Studios ID via Shutterstock
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