Rocket Lab Corporation (NASDAQ:RKLB) Receives $97.19 Consensus Target Price from Analysts

Shares of Rocket Lab Corporation (NASDAQ:RKLB) have received an average recommendation of “Moderate Buy” from the twenty analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $97.1875.

Several brokerages have issued reports on RKLB. Citigroup restated an “outperform” rating on shares of Rocket Lab in a research report on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Rocket Lab in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Rocket Lab from $73.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Roth Mkm upped their price target on shares of Rocket Lab from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Finally, Citizens Jmp upped their price target on shares of Rocket Lab from $85.00 to $95.00 and gave the company a “market outperform” rating in a research report on Friday, May 8th.

Insider Transactions at Rocket Lab

In other Rocket Lab news, CFO Adam C. Spice sold 62,744 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $69.59, for a total value of $4,366,354.96. Following the completion of the transaction, the chief financial officer directly owned 1,296,824 shares in the company, valued at approximately $90,245,982.16. This represents a 4.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alexander R. Slusky sold 100,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $118.08, for a total transaction of $11,808,000.00. Following the completion of the sale, the director directly owned 434,675 shares in the company, valued at approximately $51,326,424. This represents a 18.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 333,449 shares of company stock worth $28,295,233. 8.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rocket Lab

A number of institutional investors have recently modified their holdings of RKLB. AQR Capital Management LLC boosted its stake in shares of Rocket Lab by 114.0% in the 1st quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock valued at $3,117,000 after purchasing an additional 92,849 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Rocket Lab by 1,812.1% in the 1st quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer’s stock valued at $658,000 after purchasing an additional 34,882 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Rocket Lab by 53.8% in the 1st quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer’s stock valued at $282,000 after purchasing an additional 5,507 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Rocket Lab by 13.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 773,548 shares of the rocket manufacturer’s stock valued at $13,831,000 after purchasing an additional 90,758 shares during the last quarter. Finally, Focus Partners Wealth boosted its stake in shares of Rocket Lab by 1.0% in the 1st quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer’s stock valued at $1,206,000 after purchasing an additional 681 shares during the last quarter. 71.78% of the stock is owned by institutional investors.

Rocket Lab Price Performance

RKLB stock opened at $135.76 on Thursday. The company has a 50 day simple moving average of $86.19 and a 200 day simple moving average of $73.80. The stock has a market cap of $78.57 billion, a price-to-earnings ratio of -424.25 and a beta of 2.30. Rocket Lab has a 1 year low of $24.67 and a 1 year high of $139.76. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.47 and a quick ratio of 4.02.

Rocket Lab (NASDAQ:RKLB) last announced its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The firm had revenue of $200.35 million during the quarter, compared to analysts’ expectations of $189.65 million. During the same period in the prior year, the company posted ($0.12) EPS. The company’s revenue was up 63.4% on a year-over-year basis. Research analysts anticipate that Rocket Lab will post -0.29 EPS for the current fiscal year.

About Rocket Lab

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.