SpaceX Expected to Overtake Nvidia as Wall Street’s Top Public Company Within a Year, Says Analyst

SpaceX Sets Record with $75 Billion IPO

SpaceX achieved a historic milestone on June 12 by raising $75 billion in its initial public offering (IPO), surpassing Saudi Aramco to become Wall Street’s largest IPO to date. The company debuted its shares at $135, initially commanding a valuation of $1.77 trillion.

Arete analyst Andrew Beale has set a Street-high price target of $401 per share by the end of 2027, which would push SpaceX’s market valuation to approximately $5.28 trillion. This optimistic forecast highlights SpaceX’s Starlink broadband platform as a significant revenue driver, particularly with the anticipated launch of V3 satellites aimed at suburban users.

However, historical data indicates that similar tech IPOs have often faced significant declines, with an average year-one drawdown of 55%. SpaceX’s current price-to-sales (P/S) ratio is around 131, suggesting it may be in bubble territory amidst concerns about overestimating future technology adoption rates.