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35 Analysts Cover SpaceX. Here's Why Their Price Targets Have Almost Nothing to Do With Rockets.
Space Exploration Technologies (NASDAQ: SPCX), also known as SpaceX, is famous for its rockets. But those launches explain surprisingly little about how Wall Street values the company. The 35 analysts tracked by TipRanks have 12-month price targets ranging from $75 to $450. The average consensus estimate of $217 is nearly 50% above the stock's price as of this writing.
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The wide range reflects more than differing expectations for rocket launches. Analysts are assigning very different values to Starlink's future profits, SpaceX's artificial intelligence (AI) ambitions, and the enormous capital required to turn those opportunities into sustainable cash flow.
Could $2,000 Invested in SpaceX Help You Retire Early?
Space Exploration Technologies (SPCX -1.74%) had a major IPO in June. The stock started hot, reached around $200 per share, then crashed to $110. However, it has settled back to just above $150 per share, which is ironically right where it started trading on its opening day. This tells me that the market has settled into a normalized valuation for the stock, but does that mean it's a good investment?
A $2,000 investment may not sound like much now, but it could grow substantially depending on whether SpaceX works out. But could it help you retire early? Maybe. But it won't be as quickly as you want.
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