Stifel Nicolaus Forecasts Strong Price Appreciation for Rocket Lab (NASDAQ:RKLB) Stock

Key Points

• Stifel Nicolaus has raised its price target for Rocket Lab (NASDAQ:RKLB) from $34.00 to $55.00, suggesting a potential upside of 25.01% from the stock's previous close.
• Rocket Lab's stock currently has an average rating of "Moderate Buy" with an average price target of $37.55, as per multiple equity analysts' assessments.
• The company reported a revenue of $122.57 million for the last quarter, showing a 32.1% increase compared to the same quarter last year, despite a loss of ($0.12) EPS per share.

Rocket Lab (NASDAQ:RKLB - Get Free Report) had its price target boosted by analysts at Stifel Nicolaus from $34.00 to $55.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the rocket manufacturer's stock. Stifel Nicolaus' target price would suggest a potential upside of 25.01% from the stock's previous close.

Other equities analysts have also issued reports about the stock. Roth Capital boosted their target price on shares of Rocket Lab from $25.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $35.00 price objective on shares of Rocket Lab in a report on Monday, July 14th. Craig Hallum began coverage on Rocket Lab in a research note on Monday, July 28th. They set a "hold" rating and a $51.00 target price for the company. Wells Fargo & Company decreased their price target on Rocket Lab from $21.00 to $18.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, The Goldman Sachs Group started coverage on Rocket Lab in a research report on Monday, June 30th. They set a "neutral" rating and a $27.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $37.55.

Rocket Lab Price Performance

NASDAQ RKLB traded down $0.55 during trading hours on Tuesday, hitting $44.00. 6,835,884 shares of the company's stock traded hands, compared to its average volume of 19,911,449. The company has a market capitalization of $20.30 billion, a PE ratio of -110.11 and a beta of 2.17. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.08 and a quick ratio of 1.72. Rocket Lab has a 52-week low of $4.55 and a 52-week high of $53.44. The firm's 50-day moving average is $36.23 and its 200-day moving average is $27.38.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Rocket Lab had a negative net margin of 44.32% and a negative return on equity of 48.92%. The company had revenue of $122.57 million during the quarter, compared to analyst estimates of $120.74 million. During the same period in the prior year, the business posted ($0.09) EPS. Rocket Lab's revenue for the quarter was up 32.1% compared to the same quarter last year. Equities analysts forecast that Rocket Lab will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Lab

In other Rocket Lab news, insider Frank Klein sold 2,546 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $30.00, for a total value of $76,380.00. Following the completion of the transaction, the insider owned 1,365,826 shares in the company, valued at $40,974,780. The trade was a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Merline Saintil sold 6,353 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $33.38, for a total value of $212,063.14. Following the sale, the director directly owned 419,569 shares in the company, valued at $14,005,213.22. This represents a 1.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,130,995 shares of company stock worth $29,686,039 over the last ninety days. Company insiders own 13.70% of the company's stock.

Institutional Investors Weigh In On Rocket Lab

Hedge funds and other institutional investors have recently modified their holdings of the company. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Rocket Lab during the 2nd quarter worth approximately $192,918,000. Vanguard Group Inc. raised its stake in Rocket Lab by 10.6% during the 1st quarter. Vanguard Group Inc. now owns 40,029,546 shares of the rocket manufacturer's stock worth $715,728,000 after acquiring an additional 3,833,969 shares in the last quarter. FMR LLC lifted its position in Rocket Lab by 30,853.3% in the fourth quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer's stock valued at $94,141,000 after acquiring an additional 3,684,195 shares during the last quarter. Two Sigma Advisers LP acquired a new position in Rocket Lab in the fourth quarter valued at $72,623,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Rocket Lab during the fourth quarter worth about $56,977,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

About Rocket Lab

Rocket 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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