Rocket Lab USA, Inc. (NASDAQ:RKLB) Given Average Recommendation of "Moderate Buy" by Brokerages
Rocket Lab USA, Inc. (NASDAQ:RKLB) has received a consensus recommendation of "Moderate Buy" from thirteen brokerages. Five analysts rated it as hold, seven as buy, and one as strong buy. The average 1-year price target is $23.25. Recent reports include Goldman Sachs raising its target from $12.00 to $13.50, while Needham set a buy rating with a $28.00 target. The stock opened at $20.56, with a market cap of $9.32 billion. Rocket Lab reported a quarterly revenue of $122.57 million, missing earnings estimates but showing a 32.1% year-over-year increase.
Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the thirteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $23.25.
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RKLB has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price on Rocket Lab USA from $12.00 to $13.50 and gave the company a "neutral" rating in a report on Thursday, January 16th. Needham & Company LLC assumed coverage on Rocket Lab USA in a research report on Friday, April 25th. They set a "buy" rating and a $28.00 target price on the stock. Wells Fargo & Company decreased their target price on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. TD Cowen upgraded shares of Rocket Lab USA to a "strong-buy" rating in a research note on Monday, February 24th. Finally, Citigroup reduced their price objective on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a research report on Friday, February 28th.
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Rocket Lab USA Trading Down 11.0 %
- MarketBeat Week in Review – 05/05 - 05/09
RKLB opened at $20.56 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The stock has a market capitalization of $9.32 billion, a price-to-earnings ratio of -55.57 and a beta of 2.04. The business has a fifty day moving average price of $19.69 and a 200 day moving average price of $22.05. Rocket Lab USA has a 12 month low of $4.15 and a 12 month high of $33.34.
Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The firm had revenue of $122.57 million for the quarter, compared to analysts' expectations of $120.74 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share. The firm's quarterly revenue was up 32.1% on a year-over-year basis. Sell-side analysts expect that Rocket Lab USA will post -0.38 earnings per share for the current fiscal year.
Insider Activity
- Rocket Lab Braces for Q1 Earnings Amid Soaring Expectations
In other news, insider Frank Klein sold 44,553 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $18.18, for a total transaction of $809,973.54. Following the completion of the sale, the insider now owns 1,419,479 shares in the company, valued at $25,806,128.22. This represents a 3.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 13.70% of the company's stock.
Hedge Funds Weigh In On Rocket Lab USA
Institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in shares of Rocket Lab USA during the fourth quarter worth about $2,395,000. SeaCrest Wealth Management LLC acquired a new stake in Rocket Lab USA in the fourth quarter valued at about $754,000. Smith Anglin Financial LLC boosted its holdings in Rocket Lab USA by 10.3% in the 4th quarter. Smith Anglin Financial LLC now owns 11,746 shares of the rocket manufacturer's stock valued at $299,000 after purchasing an additional 1,096 shares in the last quarter. CHURCHILL MANAGEMENT Corp acquired a new position in Rocket Lab USA during the 4th quarter worth approximately $1,758,000. Finally, Connective Portfolio Management LLC purchased a new position in shares of Rocket Lab USA during the 4th quarter worth approximately $586,000. 71.78% of the stock is owned by institutional investors and hedge funds.
About Rocket Lab USA
(Get Free ReportRocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.
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