SpaceX Stock Slips, But Why Wall Street Sees More Gains Ahead

• SpaceX shares are sliding. What’s behind SPCX decline?

Here’s what analysts were saying.

The SpaceX Analysts

BofA Securities analyst Ronald Epstein initiated SpaceX stock with a Buy rating and a price target of $235.

RBC Capital analyst Ken Herbert initiated coverage with an Outperform rating and a price target of $225.

Needham analyst Ryan Koontz initiated coverage with a Buy rating and a price target of $200.

Cantor Fitzgerald analyst Colin Canfield initiated coverage with an Overweight rating and price target of $246, with SpaceX stock seeing a 64% upside from the current share price of $150.

• For more analyst ratings on SpaceX stock, check out Benzinga’s full coverage here.

Bank of America on SpaceX

SpaceX is “paving the superhighway to the stars,” Epstein said in an investor note about the space company.

“SpaceX has evolved from a launch company into the foundational enabler of the space economy and the leading provider of space-based applications as a result,” Epstein said.

The analyst said SpaceX is able to convert launch and manufacturing into recurring businesses, such as Starlink.

Epstein noted part of SpaceX’s long-term opportunity hinges on Starlink’s commercialization and reusability.

“If achieved, we believe launch costs could decline by an order of magnitude while capacity expands dramatically. If delayed, the timing of many future growth vectors moves materially to the right.”

RBC Capital on SpaceX

SpaceX has a “proven track record of disruption and innovation,” Herbert said in a new investor note on the space stock.

“We believe SpaceX will continue to benefit from its position at the center of two of the most profound investment themes of this generation: the evolution of the space-based economy and AI,” Herbert said.

The analyst highlighted Starship as being a key for the company’s future along with Starlink momentum.

“We believe the opportunity of orbital data centers provides SPCX with the chance to deliver a structural and durable cost-of-compute advantage versus any terrestrial competitor.”

Herbert said SpaceX is the best mega cap stock for exposure to space and AI.

“The convergence of space and AI represents a unique value-creation opportunity that we believe SPCX is well-positioned to capture.”

Needham on SpaceX

SpaceX is a leader with a multi-year lead for the space sector, Koontz said in the investor note.

The analyst highlighted the company’s Starlink segment, which had 10.3 million subscribers and $11.4 billion in revenue in 2025. Koontz saw more upside from the company’s Starship launch vehicle.

SpaceX’s vertical integration is an advantage that should help with future growth, the analyst added.

“The success in its Space segment is the foundation of the SpaceX competitive moat for its Starlink/Connectivity business as well as AI/Orbital Compute strategy,” Koontz said.

The analyst expected SpaceX to target expanding compute capacity by 2x each year.

Cantor Fitzgerald on SpaceX

Valuing a company that owns the entire tech stack is hard, Canfield said in a new investor note.

“SpaceX is something the market has never seen: the world’s first planetary infrastructure company,” Canfield said. “Where prior tech giants owned one layer of the stack — compute, connectivity or distribution — SpaceX owns them all.”

Canfield said this is not diversification, but rather “vertical integration at civilizational scale.”

“We think investor debate has been anchored to near-term valuation multiples, which misses the central point: a planetary infrastructure company does not compete within existing markets — it defines the cost structure of new ones.”

SpaceX Stock Price Action

SpaceX stock is down 4.86% to $152.63 on Tuesday versus a trading range of $147.11 to $225.64 since going public. The stock remains up from the $135 IPO price with shares flat from where they started trading.

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