Rocket Companies (RKT) Stock Forecast, Price & News

10 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Rocket Companies in the last year. There are currently 2 sell ratings, 7 hold ratings and 1 buy rating for the stock. The consensus among Wall Street analysts is that investors should "hold" RKT shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in RKT, but not buy additional shares or sell existing shares.
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10 analysts have issued 12 month price targets for Rocket Companies' stock. Their RKT share price forecasts range from $6.00 to $10.00. On average, they expect the company's stock price to reach $7.85 in the next year. This suggests that the stock has a possible downside of 4.2%.
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Rocket Companies' stock was trading at $7.00 on January 1st, 2023. Since then, RKT shares have increased by 17.0% and is now trading at $8.19.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, August 3rd 2023.
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Rocket Companies, Inc. (NYSE:RKT) announced its quarterly earnings data on Thursday, November, 4th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.48 by $0.09. The firm earned $3.16 billion during the quarter, compared to the consensus estimate of $2.96 billion. Rocket Companies had a negative net margin of 0.67% and a negative trailing twelve-month return on equity of 8.63%. The firm's quarterly revenue was down 33.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 EPS.

ETFs with the largest weight of Rocket Companies (NYSE:RKT) stock in their portfolio include Davis Select Financial ETF (DFNL), First Trust Financial AlphaDEX Fund (FXO), First Trust S-Network Global E-Commerce ETF (ISHP), Hoya Capital Housing ETF (HOMZ), Timothy Plan High Dividend Stock ETF (TPHD), Timothy Plan High Dividend Stock Enhanced ETF (TPHE), WisdomTree U.S. SmallCap Earnings Fund (EES) and Principal Millennial Global Growth ETF (GENY).

Shares of Rocket Companies split on the morning of Thursday, August 28th 2014. The 2-1 split was announced on Monday, July 28th 2014. The newly created shares were payable to shareholders after the market closes on Wednesday, August 27th 2014. An investor that had 100 shares of stock prior to the split would have 200 shares after the split.

Rocket Companies updated its second quarter 2023 earnings guidance on Thursday, May, 4th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $850.00M-$1.00 billion, compared to the consensus revenue estimate of $996.10 million.

Based on aggregate information from My MarketBeat watchlists, some companies that other Rocket Companies investors own include Tesla (TSLA), NVIDIA (NVDA), Advanced Micro Devices (AMD), Boeing (BA), Block (SQ), DraftKings (DKNG), Zoom Video Communications (ZM), NIO (NIO), Walmart (WMT) and DocuSign (DOCU).

(RKT) raised $3.2 billion in an IPO on Thursday, August 6th 2020. The company issued 150,000,000 shares at a price of $20.00-$22.00 per share. Goldman Sachs, Morgan Stanley, Credit Suisse, J.P. Morgan, RBC Capital Markets, Allen & Co, BofA Securities, Barclays, Citigroup and UBS Investment Bank acted as the underwriters for the IPO and Castle Oak Securities, Drexel Hamilton, Fifth Third Securities, Huntington Capital Markets, Loop Capital, Mischler Financial, Nomura, Ramirez & Co., Siebert Williams Shank and Zelman Partners were co-managers.

Rocket Companies trades on the New York Stock Exchange (NYSE) under the ticker symbol "RKT."

Rocket Companies' stock is owned by a number of retail and institutional investors. Top institutional investors include FMR LLC (0.57%), BlackRock Inc. (0.28%), Caledonia Private Investments Pty Ltd (0.27%), Davis Selected Advisers (0.18%), First Trust Advisors LP (0.11%) and State Street Corp (0.10%). Insiders that own company stock include Jay Farner, Jennifer L Gilbert and Matthew Rizik.
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Shares of RKT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of RKT stock can currently be purchased for approximately $8.19.

Rocket Companies (NYSE:RKT) has a market capitalization of $16.18 billion and generates $5.84 billion in revenue each year. The company earns $46.42 million in net income (profit) each year or ($0.24) on an earnings per share basis.

The company employs 18,500 workers across the globe.

Rocket Companies' mailing address is 1050 WOODWARD AVENUE, DETROIT MI, 48226. The official website for the company is www.rocketcompanies.com. The company can be reached via phone at 313-373-7990 or via email at ir@rocketcompanies.com.