Rocket Lab USA (NASDAQ:RKLB) Price Target Raised to $35.00

Rocket Lab USA (NASDAQ:RKLB) had its price objective hoisted by Cantor Fitzgerald from $29.00 to $35.00 in a report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the rocket manufacturer’s stock. Cantor Fitzgerald also issued estimates for Rocket Lab USA’s FY2025 earnings at ($0.39) EPS, FY2026 earnings at ($0.10) EPS and FY2026 earnings at ($0.06) EPS.

RKLB has been the subject of several other research reports. Wells Fargo & Company reduced their price objective on shares of Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group boosted their price objective on shares of Rocket Lab USA from $14.35 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, May 12th. Roth Capital boosted their price objective on shares of Rocket Lab USA from $25.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. KeyCorp reiterated an “overweight” rating on shares of Rocket Lab USA in a research note on Tuesday, June 3rd. Finally, Citigroup reduced their price objective on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.18.

Rocket Lab USA Trading Down 3.5%

NASDAQ:RKLB opened at $26.40 on Tuesday. Rocket Lab USA has a one year low of $4.20 and a one year high of $33.34. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The firm has a market cap of $11.97 billion, a P/E ratio of -71.35 and a beta of 2.08. The firm has a 50-day simple moving average of $23.38 and a 200-day simple moving average of $23.79.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings data on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The firm had revenue of $122.57 million for the quarter, compared to the consensus estimate of $120.74 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The company’s revenue was up 32.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.09) EPS. Equities analysts anticipate that Rocket Lab USA will post -0.38 EPS for the current fiscal year.

Insider Activity

In other news, insider Frank Klein sold 44,885 shares of the company’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $26.66, for a total value of $1,196,634.10. Following the sale, the insider now directly owns 1,370,190 shares of the company’s stock, valued at $36,529,265.40. This represents a 3.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Arjun Kampani sold 5,277 shares of the company’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $29.97, for a total transaction of $158,151.69. Following the completion of the sale, the insider now directly owns 569,606 shares in the company, valued at $17,071,091.82. This trade represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,124 shares of company stock valued at $2,707,506 in the last ninety days. Insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Several large investors have recently made changes to their positions in RKLB. Spectrum Wealth Counsel LLC purchased a new stake in Rocket Lab USA during the fourth quarter worth $25,000. Sandy Spring Bank purchased a new stake in Rocket Lab USA during the fourth quarter worth $26,000. Versant Capital Management Inc boosted its holdings in Rocket Lab USA by 118.1% during the first quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer’s stock worth $28,000 after buying an additional 860 shares in the last quarter. MassMutual Private Wealth & Trust FSB purchased a new stake in Rocket Lab USA during the first quarter worth $29,000. Finally, Farther Finance Advisors LLC boosted its holdings in Rocket Lab USA by 181.1% during the first quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer’s stock worth $35,000 after buying an additional 1,226 shares in the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

About Rocket Lab USA

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.