A Raymond James analyst has set a $800 price target for SpaceX, which could push its valuation above $10 trillion if achieved. Brian Gesuale initiated coverage on the company July 7 with a strong buy rating, the highest among Wall Street analysts. The stock currently trades at roughly $180, according to Bloomberg data. Gesuale’s target would make SpaceX’s market value more than double that of Nvidia, the world’s most valuable company at about $4.7 trillion. SpaceX’s valuation has surged in recent years as the company expands its satellite internet, rocket reusability, and artificial intelligence ventures.
Gesuale’s analysis focuses on SpaceX’s dominance in commercial spaceflight and its potential to capture a larger share of the global satellite market. He cited the company’s recent Starlink expansion and advancements in Starship development as key drivers. SpaceX has launched over 4,000 Starlink satellites since 2019, with plans to deploy tens of thousands more. The company also aims to begin regular crewed Mars missions by the late 2020s.
The analyst’s projections come as SpaceX continues its operations at NASA’s Kennedy Space Center in Cape Canaveral. The company has conducted 12 launches from Launch Complex 39A this year alone, including missions for NASA’s Artemis program and private clients. SpaceX’s presence in Brevard County has become a cornerstone of the region’s economy, generating thousands of jobs and attracting related tech firms.
Gesuale’s $800 target is 430% above the stock’s current price, reflecting his confidence in SpaceX’s long-term growth. He noted the company’s ability to reduce launch costs and its strategic partnerships with governments and private entities. However, the target would require sustained investor enthusiasm and successful execution of SpaceX’s ambitious goals.
SpaceX’s stock has faced volatility in recent weeks due to broader market concerns, but Gesuale remains optimistic. He emphasized the company’s unique position in both space and AI, areas he believes will define the next decade of technological progress. For now, the $10.5 trillion valuation remains a bold prediction — but not one Gesuale is willing to rule out.