'Borderline Comical': Analysts Can't Find Math to Justify SpaceX Share Price -- WSJ

Dow Jones

Yesterday

By Heather Gillers

Keith Snyder watched in amazement Friday as SpaceX shares soared past $170-a price that implies the company's total value is around $2.2 trillion. The CFRA Research analyst's bull-case valuation had been just short of $2 trillion, and even then, he said, the revenue growth needed to justify that number would be "borderline comical."

"I struggle to get to the number that we're at right now," he said early Friday afternoon.

Snyder's base-case valuation-$1.5 trillion-was already higher than peers. Morningstar analyst Nicolas Owens said Friday "we still think the probability-weighted fair value of the shares is $63."

"The nerd in me would love to be proven wrong," Snyder said. "The analyst in me doesn't see that."

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

June 12, 2026 14:15 ET (18:15 GMT)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2643292000"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2643292000\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2643292000?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-06-13 02:15","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2643292000","market":"nz","top_or_hot":-1,"title":"'Borderline Comical': Analysts Can't Find Math to Justify SpaceX Share Price -- WSJ","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n       By Heather Gillers \n</p>\n<p>\n     Keith Snyder watched in amazement Friday as SpaceX shares soared past $170-a price that implies the company's total value is around $2.2 trillion. The CFRA Research analyst's bull-case valuation had been just short of $2 trillion, and even then, he said, the revenue growth needed to justify that number would be \"borderline comical.\" \n</p>\n<p>\n     \"I struggle to get to the number that we're at right now,\" he said early Friday afternoon. \n</p>\n<p>\n     Snyder's base-case valuation-$1.5 trillion-was already higher than peers. Morningstar analyst Nicolas Owens said Friday \"we still think the probability-weighted fair value of the shares is $63.\" \n</p>\n<p>\n     \"The nerd in me would love to be proven wrong,\" Snyder said. \"The analyst in me doesn't see that.\" \n</p>\n<p>\n       This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 12, 2026 14:15 ET (18:15 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>'Borderline Comical': Analysts Can't Find Math to Justify SpaceX Share Price -- WSJ</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n'Borderline Comical': Analysts Can't Find Math to Justify SpaceX Share Price -- WSJ\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-06-13 02:15</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n       By Heather Gillers \n</p>\n<p>\n     Keith Snyder watched in amazement Friday as SpaceX shares soared past $170-a price that implies the company's total value is around $2.2 trillion. The CFRA Research analyst's bull-case valuation had been just short of $2 trillion, and even then, he said, the revenue growth needed to justify that number would be \"borderline comical.\" \n</p>\n<p>\n     \"I struggle to get to the number that we're at right now,\" he said early Friday afternoon. \n</p>\n<p>\n     Snyder's base-case valuation-$1.5 trillion-was already higher than peers. Morningstar analyst Nicolas Owens said Friday \"we still think the probability-weighted fair value of the shares is $63.\" \n</p>\n<p>\n     \"The nerd in me would love to be proven wrong,\" Snyder said. \"The analyst in me doesn't see that.\" \n</p>\n<p>\n       This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 12, 2026 14:15 ET (18:15 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SPCU","symbol_name":"Defiance Daily Target 2X Long SpaceX ETF","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2643292000","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2643292000","pubTimestamp":1781288100,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Keith Snyder watched in amazement Friday as SpaceX shares soared past $170-a price that implies the company's total value is around $2.2 trillion. The CFRA Research analyst's bull-case valuation had been just short of $2 trillion, and even then, he said, the revenue growth needed to justify that number would be \"borderline comical.\". \"I struggle to get to the number that we're at right now,\" he said early Friday afternoon.Snyder's base-case valuation-$1.5 trillion-was already higher than peers. Morningstar analyst Nicolas Owens said Friday \"we still think the probability-weighted fair value of the shares is $63.\". \"The nerd in me would love to be proven wrong,\" Snyder said. \"The analyst in me doesn't see that.\". This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL .","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"SPCU":"Defiance Daily Target 2X Long SpaceX ETF","SPCF":"ProShares Ultra SpaceX","XOVR":"ERShares Private-Public Crossover ETF","SNK":"2倍做空SpaceX ETF-GraniteShares","BK4089":"非传统电信运营商","SPAL":"2倍做多Space X ETF-GraniteShares","SPCX":"SPAC and New Issue ETF","BK4615":"SpaceX概念","DXYZ":"Destiny Tech100 Inc","UFO":"Procure Space ETF","LOFF":"Direxion Daily SpaceX Bull 2X ETF","SPCH":"2倍做多SpaceX ETF-leverage shares"},"translate_title":"“近乎滑稽”：分析师找不到数学来证明SpaceX股价的合理性——《华尔街日报》","themeId":null,"isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/38599b8d7dbc22e794691e3e3110960e","symbols_score_info":{"SPCU":1.5,"SPAL":1.5,"SPCX":1.5,"SNK":1.5,"DXYZ":1.5,"SPCH":0.6,"UFO":0.6,"LOFF":0.6,"SPCF":0.6,"XOVR":1.5},"content_text":"By Heather Gillers \n\n\n     Keith Snyder watched in amazement Friday as SpaceX shares soared past $170-a price that implies the company's total value is around $2.2 trillion. The CFRA Research analyst's bull-case valuation had been just short of $2 trillion, and even then, he said, the revenue growth needed to justify that number would be \"borderline comical.\" \n\n\n     \"I struggle to get to the number that we're at right now,\" he said early Friday afternoon. \n\n\n     Snyder's base-case valuation-$1.5 trillion-was already higher than peers. Morningstar analyst Nicolas Owens said Friday \"we still think the probability-weighted fair value of the shares is $63.\" \n\n\n     \"The nerd in me would love to be proven wrong,\" Snyder said. \"The analyst in me doesn't see that.\" \n\n\n       This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n\n\n  (END) Dow Jones Newswires\n\n\n  June 12, 2026 14:15 ET (18:15 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}