Intuitive Machines

LUNR · NASDAQ

$10.54−$0.20 (−1.86%)TodayMarket closed · Oct 20, 7:59 PM ET

Prev close $10.74

LUNR analyst rating

BuyConsensus of 10 analysts over the last 12 months. 90% rate it a buy.

Strong buy0
Buy9
Hold0
Underperform1
Sell0

12-month price target · 13 analysts

Average $31.23 (+196.3% upside)

Low: $13.13
Now: $10.54
High: $46.20

Upgrades and downgrades

The latest rating actions, newest first

LUNR analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Macquarie	Oct 16, 2026	Initiates	Outperform	$25.00	0%
B of A Securities	Aug 31, 2026	Maintains	Underperform	$11.00 → $13.00	57%
Canaccord Genuity	Aug 18, 2026	Maintains	Buy	$41.00 → $39.00	31%
B. Riley Securities	Aug 14, 2026	Maintains	Buy	$45.00 → $43.00	61%
Cantor Fitzgerald	Aug 14, 2026	Maintains	Overweight	$43.00 → $32.00	59%
Stifel	Aug 14, 2026	Upgrade	Hold → Buy	$32.00 → $26.00	33%
Roth Capital	May 28, 2026	Maintains	Buy	$50.00 → $75.00	47%
Cantor Fitzgerald	May 19, 2026	Maintains	Overweight	$26.00 → $43.00	59%
Canaccord Genuity	May 15, 2026	Maintains	Buy	$24.00 → $41.00	31%
B. Riley Securities	May 15, 2026	Maintains	Buy	$40.00 → $45.00	61%

The case for and against

Updated Oct 21, 2026

Bull case

Intuitive Machines is supported by a rapidly expanding contracted backlog that reached a record $1.8B in Q2/26, up $1.55B from year-end 2025, alongside Q2/26 revenue of $206M, up about 310% year over year. Its outlook is strengthened by management’s willingness to invest about $17M in long-lead inventory and continued capex ahead of demand, which helped secure awards including three commercial GEO satellites, a $600M+ contract, and broader opportunities such as NSNS, CLPS, and Golden Dome. The company’s growing national security mix, improved gross margin to about 17%, and $367.4M cash balance suggest it has the resources and execution leverage to convert backlog into future revenue more effectively.

Bear case

Intuitive Machines is viewed negatively because its business remains highly exposed to NASA and other U.S. government contracts, making revenue vulnerable to budget cuts, procurement changes, and contract timing risk. Despite Q2 2026 revenue of $206.2 million and a $367.4 million cash balance, it still posted an adjusted EBITDA loss of ($13.8 million), a net loss of ($46.4 million), and free cash flow of ($83.9 million), underscoring weak current profitability and heavy cash burn. The outlook is further pressured by supply-chain inflation, launch delays, competition from SpaceX and peers, and the fact that management itself reduced FY26/FY27 revenue assumptions and pushed IM-3 into 1Q27.

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