Piper Sandler Just Cut Its Price Target on SpaceX Stock. Here's Why. Piper Sandler has lowered its price target for SpaceX stock from $170 to $140, citing concerns about valuation and capital expenditure.
This move is a sobering reminder that even innovative companies can be vulnerable to market pressures. The investment firm's decision is driven by several near term headwinds.
One key concern is the looming expiration of insider lockup agreements on August 6th, which will increase SpaceX's float by more than double.