Even though Space Exploration Technologies Corp. (NASDAQ: SPCX) stock has plummeted by more than 33% since its post-IPO (initial public offering) peak through September 30, 2026, Ryan Koontz, a Wall Street analyst at Needham, expects a rally towards a new all-time high (ATH) over the next 12 months.
On Wednesday, Koontz reiterated a ‘Buy’ rating for SPCK stock, according to a note sent to clients. He also reaffirmed the firm’s 12-month price target for SpaceX at $250.
With SPCX stock trading at $149.24 at the time of writing, Needham projects a potential 67.52% upside. This bullish outlook for SpaceX stock is grounded in the fact that the company is accelerating its Artificial Intelligence (AI) compute revenue.
The firm recognizes that SpaceX’s announced compute deals could generate a combined $54 billion annualized revenue run rate. As such, Koontz argues that this trajectory provides unambiguous support for the management’s stated objective of achieving $100 billion in total annualized recurring revenue (ARR) by the close of 2026.
SpaceX stock price prediction
At the time of publication, 34 Wall Street analysts surveyed by TipRanks over the past three months have set an average SpaceX stock price prediction of $233.10.
This ‘Moderate Buy’ rating suggests a possible 56% upside over the next 12 months, to hit a new ATH. The highest SPCX stock prediction from these analysts is $800 from Brian Gesuale at Raymond James, while the lowest is $75 from Glenn Thum at Phillip Securities.
SPCX price performance
Since its IPO, SPCX stock is up 10.55%, thereby pushing its market capitalization to $2 trillion.
Although SPCX stock has faced reduced bullish momentum, driven by its high valuation compared to last year’s revenue of less than $20 billion, Wall Street analysts remain confident of a rally towards a new peak over the next 12 months.
Featured image via Shutterstock
