Elon Musk Backs Bullish View On SPCX’s ‘Insane’ Opportunity – Wall Street Sees Attractive Valuation in SpaceX Despite Lock-Up Overhang

• The firm reiterated its ‘Outperform’ rating and price target of $225 on the stock, according to The Fly.
• According to Koyfin data, Wall Street expects second-quarter revenue of $6.82 billion, and a loss of $0.23 per share.
• The company’s initial public offering lock-up restrictions expire on Aug. 6, 2026.

SpaceX (SPCX) received a fresh boost from Wall Street on Monday as RBC Capital Markets reiterated its bullish stance ahead of two key catalysts this week - the company’s first quarterly earnings report since its IPO and the expiration of lock-up restrictions.

SPCX stock was up 3% at the time of writing.

SPCX: An ‘Insane’ Buying Opportunity

Elon Musk agreed to a post on X that said SpaceX stock is going to be an “insane” investment “opportunity in retrospect.” 

Notably, an X user had stated earlier that SpaceX could generate revenue equivalent to Tesla’s entire business within the next 12 to 24 months. Musk responded, saying, ‘Few understand.”

RBC Sees Over 100% Upside For SPCX

RBC Capital Markets reiterated its ‘Outperform’ rating and price target of $225 on the stock, according to The Fly. This implies an upside potential of around 103% from current levels.

SpaceX shares have come under pressure since their post-IPO rally, with the upcoming lock-up expiration and cautious market sentiment continuing to weigh on the stock. However, the brokerage believes the recent pullback has created an attractive entry point, as investors remain focused on longer-term challenges while overlooking the company’s strong fundamentals and near-term business momentum.

This comes after Morgan Stanley reiterated its ‘Overweight’ rating and $300 price target last month, arguing that bearish sentiment has become disconnected from SpaceX’s largely unchanged fundamentals. The analyst described SpaceX as “uniquely positioned across launch, connectivity, and AI.”

SPCX’s Q2 Earnings, Lock-Up Expiration This Week

The company’s initial public offering lock-up restrictions expire on Aug. 6, 2026, allowing early shareholders to sell their stakes. Lock-ups are periods when early investors are restricted from selling shares immediately after a company goes public.

According to a Business Insider report, about 930 million SpaceX shares, worth more than $100 billion at current prices, are set to become eligible for trading after the lock-up period expires.

SpaceX has endured a volatile start as a public company. After pricing its June IPO at $135 per share and climbing to its record high of $225.61, the stock fell as low as $104.85, about 22% below its listing price and over 55% below its all-time high.

SpaceX will also release its first quarterly results since going public later this week. According to Koyfin data, Wall Street expects second-quarter revenue of $6.82 billion, earnings before interest, tax, depreciation and amortization (EBITDA) of $2.05 billion, and a loss of $0.23 per share.

Retail Expects SPCX Stock To Rally

Retail sentiment surrounding SPCX on Stocktwits turned ‘bullish’ from ‘neutral’ a day earlier.

One user said that a “relief rally setup may be forming.”

Another user said they would not be surprised if SPCX stock “blasts upwards on the unlock.”

The stock is down 31% since its listing in June.

Also read: IBM’s Gary Cohn Says Kevin Warsh Is Trying To Break Wall Street’s Fed ‘Addiction’

For updates and corrections, email newsroom[at]stocktwits[dot]com.