Goldman Sachs has increased its SpaceX stock price target to $230 per share from $220, reaffirming its buy rating in a note on Tuesday. This updated $230 target suggests an upside of roughly 37% relative to Wednesday’s close and sits approximately $5 above the company’s record peak. Jim Cramer supported the adjustment, noting that with the SpaceX stock price hovering around $167 at the time of writing, the revised target lends added credibility to the forecast.
Also Read: SpaceX Stock Forecast: Needham Sees $250, Bernstein $248, BofA $235
SpaceX Stock Forecast: $230 Target, Goldman Sachs and Cramer’s View
Why Cramer Says The New SpaceX Stock Price Target Matters
The “Mad Money” host remarked on Wednesday:
“Taking price target up, Space Exploration Technologies. Get used to hearing it.”
SpaceX shares endured a difficult summer following their record-breaking IPO. After reaching an all-time high of $225.64 on June 16, the stock plummeted as low as $104.83 by early August. At that time, Cramer characterized Goldman’s previous $220 target as more aspirational than analytical. Pushing the target even higher while the shares remain well beneath it indicates to him that the initial valuation is gaining legitimacy.
Cramer offered this commentary:
“The $10 bump from $220 to $230 ratified their previous $220 figure, which means something with the stock at $167. Maybe there really is some rigor to this analysis.”
Starlink, Rockets And AI Compute Fuel The SpaceX Stock Forecast
FactSet data indicates that the shares currently trade at roughly 137 times estimated earnings per share for the next 12 months. Cramer explained that this valuation accounts for multiple expansion avenues, spanning Starlink, the reusable rocket business, and longer-term data center ambitions. Furthermore, SpaceX leases excess computing capacity to clients like Anthropic and Alphabet subsidiary Google, a venture that forms a core component of the bull thesis supporting the elevated stock price target.
According to media reports, SpaceX aims to secure an additional $40 billion to purchase more Nvidia chips. The Financial Times, which initially broke the news, reported that the financing package could consist of $10 billion in bank loans alongside $30 billion in investment-grade debt.
Cramer noted:
“Why not [do it]? Musk can immediately monetize these chips. SpaceX could end up being Nvidia’s largest client at this pace. That’s fantastic news for both sides.”
What The SpaceX $230 Price Target Means For Investors
While Cramer still deems SpaceX too speculative for inclusion in his Charitable Trust, he observed that the company’s continued execution is translating its potential into reality, noting that an escalating price target aligns with that trajectory:
“Club members, stay tuned, because it’s becoming more and more likely that SpaceX could come to fruition a lot earlier than Tesla ever did.”
At present, Goldman’s target stands about $63 above Wednesday’s closing price. The overarching forecast relies on Starlink, launch operations, and compute services expanding rapidly enough to warrant the 137x multiple, though the summer pullback demonstrated how quickly market sentiment can shift. Nevertheless, Jim Cramer’s recent remarks imply that the $230 objective appears significantly more grounded than the $220 projection did in August, when the stock sat more than 50% below its peak. From Cramer’s perspective, the updated target signals that the bullish narrative is developing ahead of schedule.