#1 - Rocket Companies (NYSE:RKT)
In what could be described as a tale of two economies, the housing market remains strong. There are many reasons why individuals may be moving. But with mortgage rates likely to remain at, or near, historic lows for the foreseeable future it makes sense to scoop up shares of Rocket Companies (NYSE:RKT). Rocket is the parent company of Quicken Loans and Rocket Mortgage.
Rocket has transformed the way consumers shop for and obtain a mortgage. And it is leaning into two significant trends. First, the company puts the entire mortgage approval process online. This is right in the wheelhouse of the millennial audience that is likely to be buying homes in the near future. Second, the company has lower costs because it’s entirely digital format reduces the need for loan officers.
Technically, RKT stock is just above the $20 threshold. At the time of this writing it’s at $20.03. But since the stock began trading publicly in 2020, it has remained steady at right around $20. It’s fair to say that Rocket won’t be alone in this space for long. However this is a rare opportunity to pay a start-up price for a company that is a market leader.
About Rocket Companies
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.
Read More - Current Price
- $12.35
- Consensus Rating
- Reduce
- Ratings Breakdown
- 0 Buy Ratings, 7 Hold Ratings, 6 Sell Ratings.
- Consensus Price Target
- $10.02 (18.9% Downside)
