SpaceX Stock Earns RBC Outperform With $225 Target Ahead of 911M Share Unlock

• RBC Capital maintained its Outperform rating on SpaceX stock and maintained a $225 price target, arguing that recent weakness has created an attractive entry point despite near-term risks
• More than 911 million insider shares are set to become eligible for trading beginning August 6, creating potential selling pressure just as investors await the company’s first public SpaceX earnings report
• While the share unlock may weigh on the SpaceX stock price in the short term, analysts continue to view Starlink as the company’s biggest long-term growth engine

SpaceX stock is heading into one of its busiest weeks since going public. Investors are preparing for the company’s first SpaceX earnings report while also keeping an eye on a massive insider share unlock that could introduce fresh volatility. Despite this, Wall Street doesn’t appear to be backing away. RBC Capital has doubled down on its bullish stance, maintaining a $225 price target. They argued that the recent pullback in the SpaceX stock price has made the company more attractive rather than less.

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RBC Keeps Bullish View on SpaceX Stock Despite Looming Share Unlock

RBC Capital reaffirmed its Outperform rating on SpaceX ahead of earnings, leaving its $225 price target unchanged. In a research note, the firm acknowledged that technical factors, including a wave of insider shares becoming eligible for sale. These could weigh on sentiment in the near term. More than 911 million shares are expected to unlock beginning August 6, with additional shares becoming tradable later this year.

Even with this, RBC believes the market is placing too much emphasis on short-term supply and not enough on the company’s business. The bank described the current valuation as attractive after SpaceX stock dipped from its post-IPO highs.

The first public earnings report is expected to provide investors with a clearer look at the company’s revenue growth, profitability, and capital spending. All of these could influence how the market reacts to the share unlock.

Currently, the SpaceX stock price sits at $114.53 following a 5.68% rise over the past day. Its market cap sits at $1.51 trillion at press time.

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Starlink Remains The Long-Term Story

While the upcoming earnings report is drawing attention, many analysts continue to see Starlink as the biggest reason to stay constructive on SpaceX. The satellite internet business has expanded rapidly over the past few years, serving millions of customers across more than 140 countries while rolling out direct-to-cell services with telecom partners.

Starlink is also expected to play a central role in SpaceX’s long-term revenue mix in addition to its launch business and government contracts. This growth outlook is one reason RBC continues to back the stock despite near-term uncertainty.

The coming days could bring added volatility as SpaceX earnings and the insider unlock unfold. For now, RBC seems to be ignoring the short-term noise and hasn’t changed its long-term investment case.

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