Rocket Lab USA (NASDAQ:RKLB) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Rocket Lab USA (NASDAQ:RKLB) had its price objective hoisted by The Goldman Sachs Group from $14.35 to $16.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a neutral rating on the rocket manufacturer’s stock.

Several other research firms have also recently commented on RKLB. Needham & Company LLC began coverage on shares of Rocket Lab USA in a research note on Friday, April 25th. They set a “buy” rating and a $28.00 target price for the company. Citigroup cut their target price 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. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. KeyCorp cut their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Finally, Morgan Stanley increased their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Rocket Lab USA presently has an average rating of “Moderate Buy” and an average target price of $23.50.

Rocket Lab USA Price Performance

NASDAQ RKLB opened at $24.13 on Monday. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The company has a fifty day simple moving average of $19.88 and a 200 day simple moving average of $22.21. The company has a market cap of $10.94 billion, a P/E ratio of -65.21 and a beta of 2.04. Rocket Lab USA has a 1 year low of $4.15 and a 1 year high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last released its 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). The company had revenue of $122.57 million for the quarter, compared to analyst estimates of $120.74 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. Rocket Lab USA’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.09) earnings per share. On average, sell-side analysts predict that Rocket Lab USA will post -0.38 EPS for the current year.

Insider Activity

In other news, insider Frank Klein sold 1,835 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the sale, the insider now owns 1,417,644 shares of the company’s stock, valued at approximately $28,253,644.92. This represents a 0.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Several large investors have recently made changes to their positions in the company. FORA Capital LLC grew its holdings in shares of Rocket Lab USA by 13.0% in the 1st quarter. FORA Capital LLC now owns 256,832 shares of the rocket manufacturer’s stock worth $4,592,000 after purchasing an additional 29,574 shares during the last quarter. Comerica Bank grew its holdings in shares of Rocket Lab USA by 2.5% in the 1st quarter. Comerica Bank now owns 370,222 shares of the rocket manufacturer’s stock worth $6,620,000 after purchasing an additional 8,858 shares during the last quarter. Freedom Investment Management Inc. bought a new stake in shares of Rocket Lab USA in the 1st quarter worth about $337,000. Quantitative Investment Management LLC bought a new stake in shares of Rocket Lab USA in the 1st quarter worth about $3,809,000. Finally, Jump Financial LLC bought a new stake in shares of Rocket Lab USA in the 1st quarter worth about $5,239,000. Institutional investors own 71.78% of the company’s stock.

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.