With Ambitious Growth Plans, SpaceX Stock Is Likely to Surge Higher

The buzz around SpaceX's (SPCX) initial public offering (IPO) in June was unprecedented. As the excitement sustained on listing, SPCX stock surged higher. However, as traders booked profits, a correction ensued. 

For investors betting on the long-term fundamentals of the business, this calm period may provide a good entry opportunity. Recently, Wedbush initiated coverage on SPCX stock with an “Outperform” rating and a price target of $190 per share. 

Wedbush analyst Dan Ives and his team believe that SpaceX is one of the “most differentiated assets within the tech market” with a “strong footprint” across connectivity, space, and AI infrastructure. With SpaceX's business segments offering immense potential, the growth story still seems to be at an early stage. 

About SpaceX Stock

SpaceX was founded in 2002 with a mission to build the systems and technologies necessary to make life multi-planetary. Currently, SpaceX is building the integrated hardware and software infrastructure for space, connectivity, and AI.

In the space segment, SpaceX was the first company to develop and launch a liquid-fuel rocket reaching orbit in 2008. Further, since 2023, SpaceX has launched more than 80% of mass to orbit each year. In the connectivity segment, SpaceX has more than 10,000 Starlink satellites with presence in more than 160 countries, while the company’s AI segment has the world’s largest coherent supercomputer — Colossus — under xAI. 

For fiscal 2025, SpaceX reported revenue of $18.7 billion and an operating loss of $2.6 billion. After a strong listing and highs near $225, SPCX stock has taken a breather. This seems like a good accumulation opportunity with innovation-driven value creation likely in the coming years. 

The Innovation Edge

In 2008, SpaceX became the first private company to develop and launch a liquid-fuel rocket to reach orbit. Further, in 2020, it became the first company to transport astronauts to orbit and fly to and from the International Space Station. In the connectivity business, SpaceX runs a low-latency network that is available globally. Further, in the AI segment, SpaceX completed the first gigawatt-scale Megapack battery installation in 2026.

The key point here is that the company has been an innovator. With roughly $86 billion in proceeds from its IPO, SpaceX is positioned to make big capital investments and accelerate innovation further. 

Some growth plans include an increase in launch payload capacity and establishing a lunar economy in the space segment. In connectivity, the company is focused on increasing its broadband customer base and expanding Starlink's mobile offering. 

Finally, in the AI business, SpaceX is looking to design and manufacture its own AI chips, while deployment of orbital AI compute at scale is also potentially in the cards. Accordingly, with many irons in the fire, the company’s growth is likely to accelerate coupled with an increase in cash flows.  

What Do Analysts Say About SPCX Stock?

Based on 11 analysts with coverage, SPCX stock has a consensus “Moderate Buy” rating. While five analysts have a “Strong Buy” rating for SPCX stock, five have a “Hold" rating, and one analyst has a “Moderate Sell” rating. 

The mean price target of $202.38 represents potential upside of 25% from current levels. Further, the most bullish price target of $401 suggests that SPCX stock could climb as much as 148% from here.

Conclusion

For the year ended December 2025, SpaceX reported capital expenditures of $20.7 billion. Of that figure, roughly 61% was allocated toward artificial intelligence investments. Further, for Q1 2026, capital expenditures came to $10.1 billion, with roughly 76% allocated toward AI. With a big addressable market, these investments are likely to spur significant growth for SpaceX.

To put things into perspective, SpaceX believes that the current AI addressable market is worth $3.8 trillion. Further, if enterprise applications are included, the company's total addressable market (with space and connectivity) swells to $28.5 trillion.

With big opportunities in AI and continued innovation-driven growth in space and connectivity, SpaceX is clearly positioned for long-term value creation. That makes SPCX stock appear attractive after the recent correction.