SpaceX shares are bouncing back after their first down day as a public company. The stock rose 1% in premarket trading on Thursday to $193.75, recovering from a 5% decline on Wednesday and breaking a three-session winning streak that had taken the stock as high as $225.64, up 67% from its $135 IPO price. Two new analyst price targets are helping restore momentum. Here is what each analyst is saying and why the supply-demand setup continues to support the stock in the near term.
Wednesday’s decline coincided with a 1.3% drop in the Nasdaq after the Federal Reserve held interest rates steady and retail sales data showed some weakness in discretionary spending. For a stock this new and this thinly traded, broader market moves remain a secondary driver compared to the mechanics of options trading, ETF buying, and float constraints that are more directly shaping daily price action.
Zephirin Group made a positive trading call on Tuesday evening, citing an underappreciated supply-demand imbalance as a near-term catalyst. Approximately 640 million shares are currently available to trade, an amount Zephirin described as insufficient to meet demand from more than 300 index-tracking funds seeking exposure to SpaceX. The firm believes shares can reach $310 while that imbalance persists.
Arete analyst Andrew Beale set an even higher target, initiating coverage with a Buy rating and a $401 price target, which values SpaceX at approximately $5.3 trillion or roughly 80 times estimated 2027 sales. Beale highlighted the opportunity represented by version three of SpaceX’s Starlink satellites, which are significantly more capable than the current generation. Version three satellites are larger and require launch on Starship, SpaceX’s fully reusable heavy-lift rocket currently under development. Barron’s had not yet seen a copy of Beale’s full report at the time of publication. Arete did not immediately respond to a request for comment.
