Key Facts about SpaceX’s IPO
Space Exploration Technologies Corp. (NASDAQ: SPCX) went public on June 12, 2023, raising nearly $86 billion during its initial public offering (IPO). The stock experienced a significant rise on its first trading day, currently trading around $208 per share.
As of June 16, 2023, six Wall Street analysts have issued price targets for SpaceX. The highest is from KGI Securities with a target of $227, while Morningstar issued the lowest at $63. The average consensus price target is approximately $156, indicating potential downside from its current trading price.
Analyst opinions vary, with Oppenheimer projecting a potential $10 trillion addressable market for SpaceX by 2035, while CFRA highlights concerns over the company’s reliance on the Starship rocket, assigning a $115 price target. More analyst reports are expected in the forthcoming weeks.
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