SpaceX Is Poised to Hit $220 by June 2027 (Hint: It's Not Too Late to Buy In)
Space Exploration Technologies' outlook for rising revenues could give the stock plenty of room to run even if the market doesn't give it a richer valuation multiple.
Overview
Space Exploration Technologies (NASDAQ: SPCX) has taken investors on a rough ride since its initial public offering (IPO) in June. After reaching an all-time intraday high of $225.64 on June 16, the stock later fell below its $135 IPO price, sinking at one point to a low of $104.83. The stock has this month recovered back to around the IPO price, but it still sits well below $150, the price at which it opened its first day of public trading.
Image source: Getty Images.
That said, the company's financial performance is improving. In the second quarter, SpaceX's revenue surged 92% year over year to $7.8 billion, while adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 191% to $3.5 billion.
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Originally published at www.fool.com.