SpaceX (SPCX) Stock Price Gets $190 Price Target Ahead of Its Nasdaq-100 Debut

The SpaceX stock has plunged more than 2% today despite bullish outlooks from the market pundits. Notably, this also comes as the SPCX stock is gearing up for its entrance into the Nasdaq-100 index, which is expected to further boost the appeal of the firm.

SpaceX Stock Price Receives $190 Price Target

The SpaceX (SPCX) stock price has slipped nearly 3% today and traded at $166.11 just after Wall Street’s opening bell. This suggests that investors are treading cautiously, despite the hype surrounding Elon Musk’s space technology and AI firm.

However, despite the waning interest, it appears that Wall Street sentiment remains bullish. For context, a recent report showed that Wedbush has initiated coverage on SpaceX stock with an “Outperform” rating and assigned a $190 price target.

This suggests a strong confidence of the financial services firm in the Elon Musk firm’s long-term growth story. According to the firm, SpaceX is no longer just a space exploration company.

Meanwhile, it believes that the company is steadily building an integrated technology ecosystem that combines Starlink’s satellite internet network, the Starship launch platform, and expanding AI infrastructure capabilities.

Wedbush expects these businesses to reinforce one another over time. This integrated model could position SpaceX among the next generation of technology infrastructure leaders. The firm also suggested that the company’s investments across connectivity, launch services, and artificial intelligence could create multiple revenue streams in the coming years.

Besides, the brokerage noted that Starlink remains in the early stages of its global broadband rollout. As internet coverage expands across underserved markets, analysts see meaningful room for subscriber growth and higher long-term revenue potential.

Nasdaq-100 Entry May Boost Market Interest

Notably, the latest SpaceX (SPCX) stock price coverage comes as the firm is gearing up for its debut in the Nasdaq-100 index on July 7. This milestone is expected to boost the appeal of the firm among market participants, which in turn could send the SPCX stock price even higher in the near future.

For context, inclusion in a major benchmark often increases a company’s visibility among institutional investors. On the flip side, Citadel Securities recently flagged a major AI risk, which might hinder the growth prospects of Elon Musk’s AI firm.

However, with the blockbuster IPO of SpaceX, which has seen the stock price soaring to as high as $225.64, it seems that investor sentiment remains largely positive despite the short-term pullback. Besides, according to market insights, it appears that many are viewing the recent pullback as a normal consolidation ahead of its debut in the Nasdaq-100 index.

Besides, the fresh $190 price target for SpaceX (SPCX) stock has also bolstered the bullish narrative for the firm. Amid this, market participants are closely monitoring the company’s execution in Starlink’s global expansion, AI infrastructure initiatives, and upcoming milestones for Starship.