Prediction: $1,000 Invested in SpaceX Stock Will Be Worth This Amount in 3 Years
SpaceX has multiple powerful growth engines, but its three-year stock return will depend on whether execution can keep pace with its premium valuation.
Overview
Space Exploration Technologies (NASDAQ: SPCX) has already taken investors on a wild ride. Shares of the company are down nearly 46.9% from its post-initial public offering (IPO) high of $225.64 and even below its IPO price of $135 (as of July 20).
Investors can buy roughly 8.34 shares of SpaceX with $1,000. The company currently has approximately 13.2 billion shares outstanding, implying a market capitalization of nearly $1.58 trillion. This implies that the company is currently trading at nearly 40.4 times analysts' estimated 2026 revenue of $39.1 billion.
Details
Hence, SpaceX is still trading at a premium valuation that assumes near-perfect execution.
Source
Originally published at www.fool.com.