Wells Fargo & Company Issues Positive Forecast for Rocket Companies (NYSE:RKT) Stock Price

Key Points

• Wells Fargo & Company has raised its price target for Rocket Companies (NYSE:RKT) from $15.00 to $17.00, indicating a potential upside of 2.60% from the current stock price.
• Several analysts have positive outlooks on Rocket Companies, with BTIG Research rating it as "buy" with a $25.00 price target, while Bank of America upgraded it from "neutral" to "buy" with a target increase from $21.00 to $24.00.
• The company reported revenue up 148.1% compared to the same quarter last year, although earnings per share met expectations at $0.07, highlighting a strong growth trajectory despite some financial challenges.

Rocket Companies (NYSE:RKT - Get Free Report) had its price target hoisted by equities researchers at Wells Fargo & Company from $15.00 to $17.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective indicates a potential upside of 2.60% from the stock's current price.

Several other equities analysts have also weighed in on the stock. BTIG Research reiterated a "buy" rating and set a $25.00 price objective on shares of Rocket Companies in a report on Friday, October 10th. Morgan Stanley upped their price target on Rocket Companies from $16.00 to $18.00 and gave the stock an "equal weight" rating in a research note on Monday, September 29th. Wall Street Zen raised Rocket Companies from a "sell" rating to a "hold" rating in a research note on Saturday, October 11th. Barclays set a $19.00 target price on Rocket Companies and gave the stock a "cautious" rating in a research report on Monday, October 6th. Finally, Bank of America raised shares of Rocket Companies from a "neutral" rating to a "buy" rating and lifted their price target for the company from $21.00 to $24.00 in a research report on Wednesday, September 10th. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $17.54.

Rocket Companies Price Performance

Shares of RKT opened at $16.57 on Wednesday. The firm has a market cap of $34.87 billion, a PE ratio of 206.28 and a beta of 2.21. Rocket Companies has a 52-week low of $10.06 and a 52-week high of $22.56. The business's 50 day moving average price is $18.38 and its two-hundred day moving average price is $15.75. The company has a debt-to-equity ratio of 2.16, a quick ratio of 18.74 and a current ratio of 19.68.

Rocket Companies (NYSE:RKT - Get Free Report) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.65 billion. Rocket Companies had a negative net margin of 1.77% and a positive return on equity of 2.83%. Rocket Companies's revenue for the quarter was up 148.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 EPS. Rocket Companies has set its Q4 2025 guidance at EPS. On average, equities analysts anticipate that Rocket Companies will post 0.15 EPS for the current year.

Institutional Investors Weigh In On Rocket Companies

Institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. lifted its stake in shares of Rocket Companies by 57.3% during the 3rd quarter. SBI Securities Co. Ltd. now owns 20,329 shares of the company's stock valued at $394,000 after buying an additional 7,403 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Rocket Companies by 53.6% during the third quarter. Envestnet Asset Management Inc. now owns 208,129 shares of the company's stock worth $4,034,000 after buying an additional 72,595 shares in the last quarter. Peregrine Asset Advisers Inc. grew its holdings in shares of Rocket Companies by 28.5% during the third quarter. Peregrine Asset Advisers Inc. now owns 300,743 shares of the company's stock worth $5,828,000 after purchasing an additional 66,758 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Rocket Companies by 23.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 76,331 shares of the company's stock worth $1,489,000 after buying an additional 14,480 shares in the last quarter. Finally, FDx Advisors Inc. bought a new position in Rocket Companies in the third quarter valued at $203,000. 4.59% of the stock is owned by hedge funds and other institutional investors.

Rocket Companies Company Profile

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company's solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.

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