Overview

SpaceX Class A shares closed at $149.47 on Tuesday, a decline of almost 7% on their first trading day as a component of the Nasdaq 100.

Index Inclusion

The addition to the Nasdaq 100 followed SpaceX’s June 12 market debut, marking one of the fastest index inclusions on record, enabled by Nasdaq’s updated rules for newly listed firms. JPMorgan estimates the inclusion could channel about $4.3 billion of passive‑fund inflows into the stock.

Analyst Coverage and Targets

Wall Street banks initiated coverage:

  • Morgan Stanley rated the stock Overweight with a $300 price target, framing a $75 bear case and a $600 bull case.
  • RBC began with an Outperform rating and a $225 target, valuing the company at roughly 15 times its projected 2029 EBITDA and emphasizing compute as a durable moat.
  • Stifel issued a Buy rating and a $190 target, focusing on launch economics and noting Falcon 9 reusability reduces launch cost to approximately $3,000 per kilogram.
  • UBS also gave a Buy rating with a $210 target, sizing the combined launch, connectivity and AI opportunity at nearly $30 trillion if Starship meets expectations, forecasting revenue and EBITDA growth of about 70 % and 90 % annually through 2031 and a reduction in launch cost to about $200 per kilogram from the current $1,000.

Analysts led by Adam Jonas described SpaceX as holding an “X of 1” position in space infrastructure and argued the market undervalues its terrestrial data‑center economics, which they estimate cost half the industry average. They highlighted a projected funding gap of roughly $84 billion per year in external capital required from 2027 through 2034 before the business turns free‑cash‑flow positive.

Near‑Term Catalysts

RBC identified the cadence of Starship flight‑tests, the pending acquisition of Cursor, and the rollout of next‑generation Starlink V3 satellites as the primary near‑term catalysts.

IPO Background

SpaceX priced its initial public offering at $135 per share on June 12, raising approximately $86 billion, the largest offering on record. The shares have traded above the IPO price, closing the previous Monday at $160.42, though still below the roughly $225 high reached in the first weeks of trading.

Publication Details

The article was authored by Vahid Karaahmetovic, with contributions from Anuron Mitra, published on 7 July 2026 at 12:54 pm and updated on 8 July 2026 at 01:56 am.