With Triple Growth Engines, SpaceX Stock Is Poised to Trend Higher After a Breather

When Space Exploration Technologies (SPCX) launched its initial public offering, investor demand swelled to $250 billion in comparison to a $75 billion fundraising plan. Clearly, there is euphoria, and within a few days of listing, SPCX approached $3 trillion in valuation. A cool-off seemed very likely, and the stock has corrected meaningfully from highs to the current market valuation of about $2 trillion. 

As SPCX stock takes a breather, it’s a good time to accumulate. Recently, Oppenheimer set a price target of $250 for the stock. Timothy Horan, Oppenheimer's tech analyst, believes that the valuation is based on the potential in the AI space. In the near term, SpaceX is likely to benefit from the $2 trillion communications market. Further, Horan opines that physical AI will be one of the “fastest-growing areas of AI over the next four to five years.” 

This view is indicative of the point that SpaceX has tremendous growth potential. The $2 trillion market valuation is therefore not out of thin air. 

About SpaceX Stock

Founded in 2002 and headquartered in Starbase, formerly Boca Chica Village, Texas, SpaceX claims to be the only company that’s building the integrated hardware and software infrastructure of the future across space, connectivity, and AI. The company’s fundamental mission is to build systems and technologies necessary to make life multiplanetary. 

Since 2023, SpaceX has launched more than 80% of mass to orbit for the world each year with an over 99% mission success rate with Falcon rockets. The innovation-driven company also operates a high-speed, low-latency global broadband data and communications network. This network is powered by approximately 9,600 Starlink broadband and mobile satellites in Low Earth Orbit (LEO). In February 2026, the company surpassed 10 million active Starlink customers. 

With space, connectivity, and AI, SpaceX believes that the total addressable market is $5.7 trillion. Further, if enterprise applications are included, the total addressable market is $28.5 trillion. This provides SpaceX with ample headroom for growth within these three segments.

Considering the massive opportunities, SPCX stock had surged to highs of $225 after listing. However, with some profit booking, the stock has declined to current levels of about $171.

Clear Growth Plans

SpaceX has a clear growth plan over the next 18 to 24 months. With multiple milestones in the pipeline, SPCX stock is likely to witness positive price action. The upcoming milestones (through 2028) include Starship V3, Broadband V3 satellite, Mobile V2 satellite, terrestrial compute exceeding 400 MW, and AI compute satellite with a 100 kW compute power per metric ton.

It’s also worth noting that Starlink had 2.3 million subscribers in 2023. The number of subscribers has swelled to 10.3 billion as of Q1 2026. With coverage in 154 countries and 3.3 billion people, there is ample scope for sustained growth. 

In the AI business, SpaceX has already built the world’s largest coherent supercomputer. A key target for the company is to leverage its expertise to deliver orbital AI compute. At the same time, AI growth strategies include launching its own chips, digital human augmentation, increasing the scale of AI compute infrastructure, boosting X monetization, and growing consumer AI platform monetization. 

Therefore, with multiple growth drivers in the space, connectivity, and AI business, SpaceX is well positioned to create value. It’s important to note that FY25 revenue of $18.7 billion seems minuscule for a $2 trillion valuation company. However, the market value is based on the innovation edge coupled with the addressable market.

What Do Analysts Say About SPCX Stock?

Based on the 10 analysts with coverage tracked by Barchart, SPCX stock has a consensus “Moderate Buy” rating. While four analysts have a “Strong Buy” rating for SPCX stock, five have a “Hold,” and one analyst has a “Moderate Sell” rating. 

The mean price target of $204.14 represents a potential upside of 19% from current levels. Further, the most bullish price target of $401 suggests that SPCX could climb as much as 134% from here.