Space Exploration Technologies Corp. (NASDAQ: SPCX) is on track to attempt a historic milestone in rocket reusability, with CEO Elon Musk stating that the company could catch the Starship rocket with its launch tower in the coming months.

Musk quoted a post on X on Wednesday, outlining the timeline for achieving full rocket reusability. "Looks like we will probably catch the ship [Starship] with the tower in a few months," he said. He added that if a tower had been present at sea where SpaceX practiced landing, "it would have been caught."

Timeline for Reflight and Recovery

Musk indicated that the first reflight of a Starship vehicle—defined as flying the same ship again—will occur either at the end of this year or early next year. He described the attempt as "a fork in the road of history for consciousness reaching the stars."

In a separate post on X in late July, Musk confirmed that SpaceX would attempt to catch the Starship rocket’s upper stage in the next flight test, contingent on mission data review. "Unless we discover problems after mission data review, SpaceX will attempt to catch the ship with the tower on next flight," he stated.

Recent Operational Milestones

SpaceX previously made history in October 2024 by performing the first-ever booster stage catch mid-air using the Mechazilla tower at Starbase, Texas. More recently, the company confirmed it is recovering the Starship Flight 13 rocket from the Indian Ocean after it spent nearly 24 days at sea. Musk noted that Flight 13 was intentionally launched faster to test heat shield capabilities and faced delays due to Raptor engine issues and weather.

Additionally, SpaceX set a new record for the shortest time between orbital flights by conducting two Falcon 9 rocket launches just 38 minutes apart.

Market Reaction

Despite the positive operational outlook, SpaceX shares were down 1.43% to $137.65 during pre-market trading on Thursday. Benzinga Edge Rankings indicate a favorable price trend for the stock in the short, medium, and long term.

Marketing professor Scott Galloway has valued Space Exploration Technologies Corp. (NASDAQ: SPCX) at just $10 to $30 per share, describing the stock as "crazy overvalued" despite its recent decline from June’s peak. Speaking on his podcast "The Prof G Pod" on Monday, Galloway attributed his bearish stance to what he termed "financial engineering" in the company’s initial public offering.

Galloway pointed to SpaceX’s inclusion in the Nasdaq 100 index immediately after listing as a key distortion. He argued that this inclusion forced index funds to purchase shares artificially inflating demand, while the company’s unusually small 5% float at listing further exacerbated valuation pressures. "I think this is a $10 to $30 stock," Galloway stated, adding that CEO Elon Musk may be remembered as a great engineer but not as a financial one.

What the Numbers Show

The divergence between Galloway’s valuation and institutional consensus highlights significant disagreement on SpaceX’s fair value. While Galloway dismisses analyst targets as "creative writing," the data reveals a wide spectrum of professional opinion. The consensus price target of $227.70 is derived from 31 analysts, with estimates ranging from a low of $115 by HSBC to a high of $800 by Raymond James. This spread of nearly $700 between the lowest and highest targets underscores the uncertainty surrounding the company’s public market valuation.

Wall Street Analysts Aren’t Nearly as Bearish

SpaceX stock experienced significant volatility after its IPO, hitting a high of around $225 before falling 53% to roughly $104. The shares recovered some losses following its first earnings report as a public company and after several companies disclosed multi-billion-dollar stakes in the firm.

Despite the pullback from highs, Galloway maintained that the stock remains expensive. He criticized the influence of investment banking and wealth management fees on Wall Street research, comparing current conflicts of interest to those that led to Henry Blodget’s 1999 prosecution.

Market Sentiment Remains Split

Other prominent investors echo varying degrees of skepticism and optimism. Gary Black of The Future Fund stated he would not get "excited" until shares fall below $100. Former hedge fund manager Whitney Tilson called SpaceX "the most overvalued large-cap stock of all time."

Conversely, bulls have pushed back against these valuations. Peter Diamandis, Executive Chairman of the X Prize Foundation, described SpaceX’s infrastructure as "civilizational level" and projected a $10 trillion valuation. Gene Munster also supported a higher valuation, suggesting potential for substantial annual revenue growth.

The stock closed 1.98% lower on Tuesday at $143.34 and fell 0.73% in extended trading. Benzinga edge rankings indicate SpaceX’s stock has a positive price trend in the short, medium, and long term.