Space Exploration Technologies (NASDAQ: SPCX) shares soared after Elon Musk predicted the company could deliver annual recurring revenue (ARR) of between $500 billion and $1 trillion in 2027. If SpaceX hits those 2027 revenue estimates, the stock looks like a strong buy. However, Musk acknowledged that meeting all his 2027 targets was not guaranteed, and that there are risks to the company's ability to reach these goals. SpaceX stock was up about 9% from its $135 IPO price before its earnings report on Tuesday. Let's take a closer look at its results and prospects to see whether the stock still looks like a buy.
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