SpaceX (SPCX) shares may have tumbled in recent sessions, but Oppenheimer remains convinced that the space infrastructure and AI giant is poised for significant upside as the year unfolds.
In a research note this morning, analyst Timothy Horan touted SPCX’s recent acquisition of Cursor – an artificial intelligence coding firm – which he believes could drive the stock to a high of $250 by year-end.
Horan’s bullish call is particularly significant given that SpaceX stock, despite the recent dip, is already trading up some 25% versus its IPO price at the time of writing.
What would be SpaceX’s market cap at $250 per share
If SPCX does indeed hit $250 as Oppenheimer believes, its market cap would soar past $3.2 trillion – effectively becoming the world’s fourth largest company by market cap.
Horan’s positive stance on the behemoth is primarily rooted in its recent $60 billion acquisition of Cursor.
“This deal is beneficial for both sides. Cursor gets the compute to train and inference its models – and SPCX gets the harness engineering, data, and a captive base of expert developers, rounding out its AI flywheel, and vertically integrating, which helps innovation and margins,” he wrote.
Note that the analyst’s price target signals potential upside of a whopping 40% in SPCX stock from current levels.
Why Cursor acquisition is bullish for SPCX shares
Fueling Oppenheimer’s “multi-trillion-dollar” valuation is Cursor’s explosive growth trajectory – which directly turbocharges SpaceX’s balance sheet.
Analyst Timothy Horan notes the acquisition brings two critical assets: a massive database of over one million users and an operational software layer optimized for agentic coding tools.
This proprietary ecosystem builds a virtually irreplicable data flywheel that secures vital AI market share.
Financially, the impact is immediate. Cursor’s annual recurring revenue (ARR) has skyrocketed to a $4 billion run rate – up from just $1 billion last year – and is on track to hit $6 billion by the end of 2026.
Consequently, the investment firm aggressively revised SpaceX’s fourth-quarter AI sales estimates upward by $4 billion, now expecting a massive $8.75 billion.
Should you buy the dip in SpaceX stock today?
Oppenheimer’s updated financial models underscore a “structural shift” in how Wall Street values SpaceX.
No longer viewed simply as a satellite and aerospace pioneer, the company is rapidly solidifying its status as a core AI infrastructure juggernaut.
With the Cursor acquisition serving as a massive margin-expanding catalyst, SPCX shares’ recent pullback may offer a compelling entry point for growth-oriented investors.
As the $60 billion integration rounds out its vertical technology stack, all eyes remain on SpaceX’s execution through the back half of the year.
All in all, if Horan’s aggressive $250 price target materializes, SPCX is well-positioned to rewrite market cap records and cement its position among the world’s elite trillion-dollar tech titans.
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