SpaceX Stock Price Prediction as Expert Eyes 49% Upside on Starlink’s $1.7T Opportunity

SpaceX (NASDAQ: SPCX) stock price is up slightly in pre-market trading today, September 8, after Pivotal Research initiated coverage on the shares and set a $220 target. The firm bases its bullish outlook on Starship’s reusability and a $1.7 trillion opportunity for Starlink.

Pivotal Research Expert Reveals Key Opportunities for SpaceX

Analyst Jeffrey Wlodarczak of Pivotal Research notes that SPCX stock price could rise by 49% and reach $220 if the company can solve the issue of Starship’s reusability. The analyst notes that reusability could make flights less expensive and enable faster redeployment.

Wlodarczak notes that if SpaceX can solve this “engineering bottleneck,” the company can expand the capacity of Starlink so that it can take up a share of the $1.7 trillion wireless market.

He also adds that with Starship becoming reusable, SpaceX, through Starlink, can dominate the hyperscaler market that is projected to have a multi-trillion total addressable market by 2030. It could also establish a monopoly in the space industry.

“Our $220 target is a call on reuse 20–50 flights per vehicle, cheap refurb, fast turnaround. If that is solved, the rest of the model can happen. If it is not, SPCX is a different and much smaller company,” Wlodarczak said.

An earlier report by CoinGape noted that SpaceX is working to advance Starship while expanding the Starlink division into Europe, UAE and Uganda.

SpaceX Investors Brace for Another Share Unlock

Investors holding SpaceX stock are bracing for an additional 319 million shares, valued at $46.89 million, that will become eligible for sale for the first time on September 9.

Another 319 million shares are also unlocking on September 24, suggesting that the amount of SpaceX stock that is in circulation will grow by 14% this month alone.

However, the slight gains seen during pre-market trading suggest that investors are pricing in that insiders and early investors will hold on to these shares like they have done during the previous two unlocks. JPMorgan also says SpaceX could reach $240 despite these unlocks.

As CoinGape previously reported, 911.5 million SPCX shares were released on August 6 before another batch of 319 million shares was released on August 20. But since the unlocks began, SpaceX has gained from $105 to $147, suggesting these traders are not selling.

SPCX Stock Price Defends Key Support as Bulls Target $166

SpaceX stock is trading within an ascending triangle pattern on the four-hour chart. This pattern suggests that the uptrend that began on August 6 could continue if SPCX remains above $147.

This triangle pattern has a height of 12.90%. If SpaceX stock remains above the support at $147, the stock could rise by 12.90% and reach $166.

However, this bullish outlook will become invalid if SpaceX stock moves below the lower trendline of the triangle pattern. If this occurs, the stock could retest the August 20 lows of $131.

The MACD reading of 3.19 shows that the momentum is favoring bulls. The MACD line is also moving above the signal line, suggesting that the buying pressure is rising, and this could push SpaceX towards $166.

The ADX line that is also tipping north, suggests that the uptrend that began on August 20 is strong, and it could continue.