SpaceX Stock Could Soar by 73%, According to a Wall Street Analyst
Space Exploration Technologies (NASDAQ:SPCX) is getting its mojo back. After dropping to a low of $104.83 per share, the stock has roared back and, as of this writing, is trading at about $173 per share, well above its $150 debut price. But could there be even more upside ahead for the rocket company? Yes, or at least, that’s what several Wall Street analysts believe. Let’s look into one recent bullish call that sent SpaceX soaring.
Image source: The Motley Fool. Image source: The Motley Fool.
SpaceX’s price-to-sales ratio is currently 68.5, and it is trading at 200x forward earnings. That doesn’t seem like a cheap stock, at least at first glance. However, these metrics, as useful as they are, do not account for expected growth. And once we factor that in, SpaceX’s shares appear cheap, or at least, that’s what Adam Jonas, an analyst at Morgan Stanley (NYSE:MS), believes.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.