Analyst warns SpaceX stock breakout amid valuation concerns

As Space Exploration Technologies Corp. (NASDAQ: SPCX ) stock opened Monday, July 13, at a new lower low since hitting the all-time high (ATH), analysts at TrendSpider , an AI-powered market analysis platform, signaled a bearish outlook. In an X post on 12, the platform noted that the SpaceX stock price chart could be in the early phase of breaking out of a descending triangle. The analyst at TrendSpider argued that SPCX stock has fallen below the horizontal support of the falling wedge, signaling a downtrend. SpaceX stock price chart. Source: TrendSpider After closing Friday trading at $145.30, SpaceX stock traded around $143.77 during Monday’s pre-market trading session. As such, sellers of SPCX stock have been outnumbering existing buyers, thereby increasing post-IPO (Initial Public Offering) selling pressure. The analyst supported the bearish technical breakout by citing the company’s low revenue relative to its market capitalization. Notably, SpaceX recorded $18 billion in revenue and a market capitalization of approximately $1.9 trillion at press time. Meanwhile, the analyst argued that Amazon.com, Inc. (NASDAQ: AMZN ) posted revenue of $747 billion in 2025 and had a market cap of about $2.6 trillion at the time of reporting. Wall Street’s SpaceX stock price forecast 2026 Despite the near-term bearish outlook for SpaceX stock, 27 Wall Street analysts surveyed by TipRanks have set an average price target of $245.96 over the next 12 months. The majority of these analysts assigned a Buy rating for SpaceX shares, thus the average ‘Strong Buy’ rating. SpaceX stock price forecast. Source: TipRanks Although the company’s midterm technicals have signaled a potential further correction, Wall Street analysts have pointed out its strong fundamentals. For instance, the company was added to the Nasdaq-100 index, which tracks the 100 largest non-financial companies listed on Nasdaq. Additionally, SpaceX’s AI ventures, including its recently acquired Cursor, have helpe...