Cathie Wood's Ark Bought $21.3 Million of SpaceX Stock as Shares Fell 45% From Their Record High. Wall Street's Median Price Target Is $243.81, 111.5% Above the Current Close.

Cathie Wood, CEO of Ark Invest, is known for her assertive concern style. Ark Innovation ETF is heavy invested successful maturation stocks, including Tesla, Tempus AI, and CRISPR Therapeutics. Roughly fractional of the fund's assets are invested successful conscionable 10 companies.

Among the fund's apical holdings is Space Exploration Technologies (NASDAQ: SPCX). The abstraction banal accounts for astir 4.5% of the fund's invested assets.

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Immediately aft its IPO, SpaceX banal soared good supra $200. After a crisp correction, however, shares present commercialized below their archetypal IPO terms of $135 per share.

Wood capitalized connected the correction by purchasing much SpaceX stock. According to reports, she purchased $21.3 cardinal successful SpaceX banal crossed aggregate funds arsenic the terms fell.

What bash different Wall Street analysts deliberation of Wood's purchases? As expected, determination is simply a wide scope of opinions. But the statement sentiment powerfully supports Wood's actions.

Wall Street thinks SpaceX banal has 111.5% successful imaginable upside

SpaceX wasn't shy astir projecting its maturation imaginable successful its IPO prospectus. "We judge we person identified the largest actionable full addressable marketplace successful quality history," the institution claimed successful that document. In all, SpaceX believes its full maturation accidental totals $28.5 trillion.

Compared to SpaceX's existent $1.5 trillion marketplace cap, the company's task maturation opportunities marque shares look similar a steal. And apparently, astir of Wall Street agrees.

Nearly 30 analysts presently screen the stock, with an mean 12-month terms people of $243.81 -- astir 111% above the existent banal price. Note, however, that analysts person a wide scope of expected outcomes. One expert has an astounding $800 terms target. Another thinks shares are really a "sell," with a terms people of conscionable $115.

If astir of Wall Street's estimates beryllium true, Wood is precise omniscient to load up connected much SpaceX shares arsenic their worth dips. But wherefore precisely is Wall Street truthful bullish?

More than 90% of SpaceX's claimed full addressable marketplace focuses connected a azygous opportunity: AI. Unsurprisingly, Wall Street projects monolithic maturation from SpaceX's AI division.

Morgan Stanley, for example, believes SpaceX's gross volition leap from $18.7 cardinal successful 2025 to $319 cardinal by 2030. By 2040, the slope expects companywide revenues to scope $3.3 trillion. Morgan Stanley believes astir each of this income maturation volition beryllium driven by occurrence successful its AI division.