Prediction: SpaceX Stock Will Cost $192 by 2027

Space Exploration Technologies' (NASDAQ: SPCX) first week as a public company showed that investors were not valuing it like a normal rocket stock. They were paying for a platform that combines Starlink's satellite-internet cash flow, a dominant position in rocket launches, expanding artificial intelligence (AI) infrastructure, mobile connectivity, and the potential commercial success of the Starship reusable rocket system. And don't forget visionary Elon Musk leading it all.

Since then, SpaceX stock has pulled back sharply from its post-IPO high, closing at $154.60 on June 22. Investors seem to be already questioning the company's premium valuation. Here's what would need to go right for the stock to recover again by 2027 and why I predict it will trade at $192.

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The best-case target price

Analysts estimate SpaceX's 2027 revenue could range from $54.8 billion to $79.3 billion, with the average estimate at $64.1 billion. The company has about 13.1 billion shares outstanding.

Based on SpaceX's recent share price of $154.60 and the average 2027 revenue estimate of $64.1 billion, the stock is trading at 31.8 times projected 2027 sales. If that same multiple is applied to the high end of the 2027 revenue estimate of $79.3 billion, the company's market capitalization could rise to about $2.5 trillion. With a share count of around 13.1 billion, the company's share price would be about $192.

If SpaceX reaches the low end of the revenue estimate and still trades at about 31.8 times sales, the stock would be trading at roughly $133 at the end of 2027. If the price-to-sales multiple drops to 25, then the stock would trade at $104 per share with that revenue.

Premium valuation needs to be justified

SpaceX's Starlink-powered connectivity segment is the key growth engine and generated $11.4 billion of revenue and $4.4 billion of operating income in 2025. Starlink's next challenge is adding high-quality subscribers. Average revenue per user (ARPU) has been declining since 2023 as Starlink expands into more international, lower-priced markets.

Consumer subscribers accounted for over 60% of the connectivity segment revenue in 2025. If revenue mix shifts toward enterprise and government customers, airlines, and maritime users, it could help Starlink offset falling ARPU.

Direct-to-cell lets ordinary smartphones connect directly to Starlink satellites when regular mobile towers are unavailable. Starlink Mobile already earns revenue through sharing arrangements with mobile network operators. The company has already launched around 650 satellites to enable mobile connectivity.

AI revenue also needs to scale while the business becomes profitable. If AI remains capital-intensive without a clear profitability timeline, it could become the reason for multiple compression.

The Starship reusable rocket system is another key growth catalyst. Starship does not need to be fully commercial by 2027. However, investors need to see enough progress to keep believing it can lower launch costs, support larger Starlink satellites, and strengthen SpaceX's long-term growth story.

A share price of $192 -- or more -- by 2027 is possible and is my prediction, but it requires a best-case setup where revenue reaches the high end of expectations and investors remain willing to value SpaceX as a space, connectivity, and AI infrastructure company.

Manali Pradhan, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.