SpaceX drew a wide range of Wall Street price targets after analysts began coverage following the end of the quiet period tied to its June IPO. The stock also joined the Nasdaq-100, forcing funds that track the index to add exposure to Elon Musk’s rocket, satellite, and AI-linked company.
SPCX traded at $151.74, down 5.41%, after giving back part of its post-IPO rally. The stock had climbed from its $135 IPO price to as high as $225 before falling back, leaving investors to weigh new analyst forecasts against execution risks and a high valuation.
Citi said SpaceX could reach $900 per share within a few years if key engineering goals are achieved at scale. Raymond James issued one of the highest early targets at $800, while Morgan Stanley started coverage with an Overweight rating and a $300 target.
Wall Street Opens Coverage on SpaceX
Several banks issued positive ratings on SpaceX after the company’s IPO quiet period ended. Morgan Stanley, Goldman Sachs, UBS, Bernstein, Bank of America, JPMorgan, and other firms released early coverage on the stock.
Morgan Stanley rated SpaceX Overweight and set a $300 price target. The bank said enterprise AI could become a major growth area, with demand linked to computing capacity and later managed AI services.
Citi gave SpaceX a $200 year-end target but said that level could be part of a path toward $900 or more. Citi said the higher long-term valuation would depend on successful Starship deployment and proven engineering progress.
Raymond James issued a Strong Buy rating with an $800 target. Analyst Brian Gesuale said SpaceX could become one of the major industrial infrastructure companies of the century, though that view depends on large future markets developing.
Analysts Flag Wide Valuation Range
Wall Street targets for SpaceX vary sharply. A list of 18 analyst targets showed an average price target of $278, with estimates ranging from Needham’s $200 to Raymond James at $800.
Source: X
Citi’s possible $900 long-term view would value SpaceX near $12 trillion, far above its current market capitalization of about $2.1 trillion. That would also place it above today’s largest public companies.
Bank of America set a $235 target and said investors should view part of SpaceX’s long-term value through an “option value” lens. The firm said future space markets are uncertain, but SpaceX owns infrastructure that could matter if those markets grow.
Morgan Stanley also warned that outcomes remain wide. Its analysts set a $75 bear case and $600 bull case, citing SpaceX’s opportunity in AI and space while also noting execution, funding, and technology risks.
SpaceX Joins Nasdaq-100 After IPO
SpaceX officially joined the Nasdaq-100 after its record IPO, adding the stock to one of the most tracked technology indexes. Funds linked to the Nasdaq-100 must buy SpaceX shares to match index exposure.
The company’s index entry came after shares had already seen major volatility. SPCX rose quickly after listing, then pulled back as investors assessed valuation and the company’s future growth plans.
SpaceX is trading at a higher valuation than the broader Nasdaq-100. Bank of America estimated the stock trades at 118 times 2027 earnings and 43 times 2028 earnings, while the Nasdaq-100 trades near 23 times forward earnings, according to Bloomberg data.
Index inclusion may support demand from passive funds, but analysts said long-term performance will depend more on revenue growth, Starship execution, Starlink expansion, and AI-linked business opportunities.
SpaceX Seeks 100,000-Satellite Approval
SpaceX has requested FCC approval to launch and operate a third-generation satellite constellation of 100,000 satellites. The system is designed to support global connectivity and AI-related demand.
Elon Musk responded to the satellite plan on X, writing, “We’re gonna need a bigger rocket! (Starship).” The comment tied the satellite expansion plan to SpaceX’s next-generation launch system.
The company’s Starship program remains central to several bullish forecasts. Citi said successful Starship deployment could create a cheaper and more scalable route to space markets that competitors cannot easily access.
SPCX fell more than 5% during the session, wiping out about $120 billion in market value, according to CoinCodex.
