SpaceX shares received a fair value estimate of $63 from Morningstar even as a bullish outlook pushed price targets above $190 following the company’s public market debut.
summary
- Morningstar estimates SpaceX is worth $63 per share, well below its IPO price of $135.
- Despite valuation concerns, some analysts believe strong demand could push the stock toward $190.
- SpaceX speculation has fueled activity across cryptocurrency markets, including SPCX, Velvet, and Hyperliquid tokens.
According to the Wall Street Journal a reportAnalysts at Morningstar believe SpaceX stock is trading well above its fundamental value despite intense demand surrounding the offering.
The research firm estimated fair value at $63 per share, well below the IPO’s guidance price of $135, suggesting the stock may be worth less than half what investors currently estimate it to be.
Discussions over valuation have intensified as SpaceX has become one of the most closely watched listings in recent years. While Morningstar estimates point to a potential correction if investor enthusiasm fades, other market analysts maintained a much more optimistic outlook and predicted that… The stock could rise to $190.
Demand remains strong despite valuation concerns
The Wall Street Journal reports that Morningstar does not expect an immediate sell-off despite the rating warning. The company’s analysts said that strong interest from institutional and retail investors could keep the shares high for a long time after the listing.
Adding to this narrative, market commentator Walter Bloomberg said that the offering attracted more than $350 billion in total demand, confirming the strong appetite for SpaceX shares ahead of the listing. Bloomberg later reported that the stock opened at $150, above its initial public offering price of $135, before rising to about $161.68, giving the company an implied market value of about $1.96 trillion during its Nasdaq debut.
Evidence of this demand has also emerged across cryptocurrency markets. Previous reports by crypto.news male Backpack Securities and Sunrise have launched SPCX, a tokenized asset on Solana backed by SpaceX’s underlying shares. Eligible holders can convert the tokens into actual shares, creating a blockchain-based path to SpaceX exposure.
Meanwhile, SpaceX’s IPO campaign for Binance Wallet has reportedly approached $557 million In subscription funds. Binance listed 135 USDC as an indicative token price before fees, while the offer included a 5% subscription fee and subscriptions accepted through USDC.
Cryptocurrency markets have fueled SpaceX speculation
Outside of traditional markets, SpaceX enthusiasm has spread to many cryptocurrency trading venues.
According to A a report By crypto.news Velvet’s native token has surged more than 1,400% over the past week after the platform promoted SpaceX’s synthetic exposure through the SPCX pre-IPO market.
Derivatives traders have also gravitated toward SpaceX-related products. Hyperliquid’s synthetic SPCX market has attracted significant activity as investors seek exposure before regular stock trading begins.
Show excess fluid Implicit evaluations It traded well above its IPO prices, helping to increase trading volumes and push open interest in HYPE futures to $2.56 billion.
However, Morningstar argued that investor enthusiasm alone will not determine SpaceX’s long-term value. The Company expects future performance to depend on revenue growth, profitability and the Company’s ability to justify the expectations included in its valuation.
Limited stock availability may continue to support prices in the early stages of trading, according to the company’s assessment. However, over time, additional stocks entering the market may increase selling pressure and force investors to focus more closely on the fundamentals of the business.
If these fundamentals fail to support current expectations, Morningstar believes SpaceX stock could gradually approach its estimated fair value of $63.
