SpaceX Soars to Most Expensive U.S. Stock by Valuation Since IPO, 39.2x Revenue Multiple

According to analysts, SpaceX has become the most expensive stock by forward revenue valuation on U.S. markets since its IPO last Friday, trading at 39.2 times estimated 2027 revenue, far exceeding all S&P 500 constituents. By comparison, Tesla trades at 12.6 times 2027 revenue, while Palantir, ranked second, is valued at 28 times.

SpaceX shares, which have surged 37% since the IPO price, fell 5% on June 18 and 3.6% on June 19, but momentum remains strong amid retail investor FOMO. Oppenheimer analyst Timothy Horan raised SpaceX's price target to $250 on June 19, implying 35% upside from the $185 closing price, driven by confidence in the company's dominance in commercial rocket launches and emerging roles in AI infrastructure and satellite communications.