SpaceX Stock Price Target Raised to $230 by Sacks: Cramer Reacts

The SpaceX stock price target from Goldman Sachs is now $230 per share, up from $220, after the bank reiterated its buy rating in a Tuesday note. The new SpaceX $230 price target implies about 37% upside from Wednesday’s close and also sits roughly $5 above the all-time high. Jim Cramer backed the move, and the SpaceX take is that it strengthens the forecast, with the SpaceX stock price at around $167 at the time of writing.

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 said this on Wednesday:

“Taking price target up, Space Exploration Technologies. Get used to hearing it.”

The SpaceX stock price had a rough summer after its record-breaking IPO. Shares hit an all-time high of $225.64 on June 16, then dropped as low as $104.83 in early August. Back then, Cramer said Goldman’s old $220 SpaceX stock price target looked more aspirational than analytical. Raising it again with shares still well below it tells him the original valuation is becoming more credible.

Cramer had this to say:

“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

Right now, the shares trade at roughly 137 times next 12 months’ earnings per share estimates, according to FactSet. Cramer said that valuation reflects several paths for growth, from Starlink and the reusable rocket business to longer-term data center plans. SpaceX also rents excess computing power to companies including Anthropic and Alphabet’s Google, and that business is a big part of the bull case behind the higher SpaceX stock price target.

Media reports say SpaceX wants to raise an additional $40 billion to buy more Nvidia chips. The Financial Times, which broke the story, said the deal could include $10 billion in bank loans and $30 billion in investment-grade debt.

Cramer stated:

“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

Cramer still doesn’t see SpaceX as a fit for his Charitable Trust, as the stock remains too speculative. Even so, he said the company’s progress is making its potential more tangible, and a rising SpaceX stock price target fits that view.

Cramer had this to say:

“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.”

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For now, Goldman’s SpaceX stock price target sits about $63 above Wednesday’s close. The SpaceX stock forecast leans on Starlink, launches and compute growing fast enough to justify that 137x multiple, and the summer slide showed how quickly the mood can turn. Still, the latest Jim Cramer SpaceX comments suggest the SpaceX $230 price target looks far more grounded than the $220 call did in August, when the SpaceX stock price was down by more than half from its peak. In the Jim Cramer SpaceX view, the new SpaceX stock price target is a sign the bull case is moving faster than expected.