Is SpaceX (SPCX) Stock Heading to $100? One Analyst Thinks So

TLDR

• DZ Bank initiated coverage of SpaceX (SPCX) with a Sell rating and a $100 price target, implying roughly 25% downside.
• Despite the bearish call, 75% of Wall Street analysts rate SPCX a Buy, with an average price target of $220.20.
• SpaceX reported quarterly revenue of $7.81 billion, up 91.9% year over year, beating estimates.
• A second lockup expiration released 319 million additional shares into the market, pushing the stock below its $135 IPO price.
• Elon Musk delayed a Starship upper-stage catch attempt by several months, disappointing investors.

SpaceX (SPCX) stock was trading around $131.82 on Friday, down 1.6% on the day, after briefly rising 1.5% in premarket trading following a new Sell rating from DZ Bank analyst Markus Leistner.

Space Exploration Technologies Corp., SPCX

Leistner set a price target of $100, which would represent a drop of roughly 25% from SpaceX’s current price. The call is one of the more bearish on Wall Street, where 75% of analysts covering SPCX rate it a Buy. The average price target across analysts sits at around $220.20.

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