Wedbush Outperforms SpaceX; P/S Ratio Hits 116× as Shares Fall 27%
SPCX•Wedbush initiated coverage of SpaceX with an Outperform rating, citing AI compute contracts and Starlink expansion as growth drivers. The stock’s valuation stands at about 116 times trailing 12-month sales and has slid roughly 27% from its post-IPO peak.
1. Analyst Initiation by Wedbush
Wedbush launched coverage of SpaceX with an Outperform rating, highlighting the company’s expanding AI compute deals and continued Starlink subscriber growth as key catalysts for long-term revenue gains.
2. Sky-High Valuation
SpaceX trades at approximately 116 times trailing 12-month sales, reflecting investor optimism around its AI partnerships and satellite broadband arm, while raising questions about future profitability and multiple contraction risks.
3. Post-IPO Pullback
Since its public debut, shares have dropped about 27% from their recent peak amid profit-taking and broader market volatility, presenting a potential buying opportunity for investors focused on fundamental growth drivers.
