RESEARCH REPORT
Space Exploration Technologies
SPCX
$134.35
As of 2026-11-04
Research note — 2026-11-04. Educational analysis, not financial advice.
The one-line version
Space Exploration Technologies trades near $134.35 on a trailing multiple of about 559.8x, against contested Street targets and the usual concentration and execution risks. That's the tension. Everything below is the detail.
That's the tension. Everything below is the detail.
1. What you're paying
| Now | Its own unavailable median | Gap | |
|---|---|---|---|
| P/E (trailing) | ~559.8 | ~n/a | n/a |
| P/E (forward) | ~52.4 | — | — |
| EPS (TTM) | 0.24 | — | — |
| Gross margin | 56.8% | — | — |
What that means in plain terms: the gap versus the company's own history is the growth or durability the market is already pricing. It is not automatically wrong — it is the bet.
Fair-value anchors on file:
- Street mean target: $257.11 — Average published analyst target.
- Street target midpoint: $435.00 — Midpoint of $70.00–$800.00 published range.
Street targets run from $70.00 to $800.00. A wide spread means the name is contested, not consensus.
2. What the bulls are counting on
- Elon Musk’s Tesla and SpaceX Stocks Fall After Democrats Sweep Elections, Senator Warns of ‘Subpoenas’
- Blue Wave Puts Tesla’s SpaceX Merger Premium at Risk as Democrats Eye Musk’s Companies
- Elon Musk's Political Gamble Just Backfired on Tesla
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Bull case, bear case, assumptions, and what to watch next.
3. What the bears see
- Qualcomm to report Q4 earnings amid slowing smartphone, PC sales
- SMCI Stock Near 3-Month Low: Super Micro’s Earnings Beat Fails To Ease Analyst Concerns Over Margins
- SpaceX, Tesla, Micron, AMD, Lockheed, CVS, DJT, and More Stocks That Explain Today’s Market
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Bull case, bear case, assumptions, and what to watch next.
4. What would have to be true
For the stock to justify ~559.8x rather than its unavailable ~n/ax, roughly all of the following need to neutral:
- Growth or margin durability shows up in the next several reports, not just in narrative.
- Key revenue concentrations survive competitive and regulatory pressure.
- Execution on the current product or services cycle stays on schedule.
- The Street target range compresses as results clarify the contested assumptions.
Ask yourself honestly: how many of those would you bet on individually? Multiply your answers together.
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Bull case, bear case, assumptions, and what to watch next.
5. What to watch next
- Next earnings date: 1792526400
- Trailing and forward multiples versus the company's own history
- Segment growth rates in the next 10-Q / earnings release
- Material Form 4 and 13F changes
- Whether the Street high-to-low target spread narrows or widens
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Bull case, bear case, assumptions, and what to watch next.
6. What this note does not do
It doesn't tell you to buy or sell. It won't, ever.
You have the valuation in context, the strongest version of both cases, and the specific assumptions the current price depends on. What you do with that depends on your time horizon, your existing exposure, your risk tolerance, and what else you could do with the money — none of which we know.
If you want someone to tell you what to do, you want a licensed financial adviser, and that is a genuinely reasonable thing to want.
Educational and informational purposes only. Not investment advice and not a recommendation to buy or sell any security. GetStockReport is not a registered investment adviser. Figures are as of 2026-11-04 and go stale quickly — verify against primary sources before acting. All investments carry risk including loss of principal. Past performance does not guarantee future results.
8. Analyst ratings & targets
No recent activity
Analyst opinions change frequently. Past upgrades do not predict future returns.
9. Important news
Nov 7, 2026|Tesla, SpaceX Face Different Risks From Gina Hinojosa’s Texas Midterm Win: Bitunix Analyst Says Expansion, Not Existing Operations, Is Key Concern(Yahoo)
Tesla Inc. and Space Exploration Technologies Corp. investors may be overstating the immediate Texas policy risk following the election, Dean Chen, an analyst at Bitunix Exchange, told Benzinga, saying he sees "limited immediate operational impact" from Gina Hinojosa’s gubernatorial win....
Nov 6, 2026|Mega-Cap Default Risk Update(SeekingAlpha)
The mega-caps as a group fell sharply this week along with the rest of the market.
Nov 6, 2026|If I Could Buy and Hold Only 1 Artificial Intelligence (AI) Stock Through a Democratic Congress, It Would Be This One(Yahoo)
Artificial intelligence (AI) stocks are plunging following the results of the midterm elections.
Nov 6, 2026|Better Dividend Stock: Verizon vs. AT&T(Yahoo)
Key TakeawaysVerizon yields 6. 1% and AT&T 5.
Nov 6, 2026|Elon Musk Says SpaceX Sales Are ‘Exploding’—and Forecasts Revenue Twice Wall Street’s Estimate(Yahoo)
Ron Baron’s annual investment conference often includes a conversation with the SpaceX CEO Baron calls “Starman.”
News headlines are reported as-is. Verify important claims with original sources.
10. Insider Form 4 activity
No recent activity
Form 4 filings are routine transactions. Scheduled sales (10b5-1 plans) are normal and not signals.
11. Institutional 13F holdings
| Fund | Shares | Position | Change |
|---|---|---|---|
| State Street | 10,876,324 | $1.9B | — |
These are 45-day lagged filings (SEC requirement). Position changes happened in the past.
12. Earnings this week
No recent activity
Earnings dates are estimates and may shift. EPS estimates are consensus, not predictions.