One Wall Street analyst believes SpaceX’s shares could more than double from their current level. Arete Research assigned a $401 price target to the company for the end of 2027 on Thursday. Shares closed near $192 on Wednesday but fell over 6% during Thursday afternoon trading. Arete anticipates the stock will rise driven by the reusability of SpaceX’s new super‑heavy Starship rocket, the deployment of space‑based data centers, and the continued expansion of its Starlink satellite constellation. “We expect SpaceX shares to move on news about Starship reusability and launch volume,” the firm’s analysts wrote in a Thursday research note. They also project that Starlink and AI‑related infrastructure will fuel a compound annual revenue growth rate of roughly 63% through 2030. While Arete’s outlook is optimistic, it diverges from the consensus on Wall Street. Oppenheimer issued a $250 price target for SpaceX over the next 12‑to‑18 months, and Stephens set a target of $296 in a June 16 client note. Numerous Wall Street firms echo Arete’s view that Starship reusability could enhance value across SpaceX’s varied operations, which include launch services, satellite internet, and AI initiatives. Nonetheless, Starship remains unproven, and many analysts consider its AI capabilities lagging behind those of Anthropic and OpenAI. Myles Walton of Wolfe Research noted in a June 12 memo that he does not expect SpaceX to surpass Anthropic or OpenAI on AI model development, warning that his roughly 30% upside estimate could prove inaccurate if Starship fails to deliver or if the company’s AI ambitions prove overstated. SpaceX’s market capitalization fluctuates with its share price but already exceeds $2 trillion following the post‑IPO rally. With roughly 13 billion shares outstanding and an IPO price of $135, the firm has surpassed its original valuation goal of $1.75 trillion. Assuming the share count remains constant, Arete’s $401 price target would push SpaceX’s market cap above $5.2 trillion—larger than Nvidia, which FactSet lists as the world’s biggest company with a fully diluted market cap of about $4.99 billion. Notably, a doubling of SpaceX’s share price would be striking given that the company posted a loss of approximately $5 billion in 2025 on revenue exceeding $18.5 billion, according to Reuters, citing The Information.
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