Rocket Companies (NYSE:RKT) Price Target Raised to $18.00 at Morgan Stanley

Rocket Companies (NYSE:RKT) had its price target lifted by Morgan Stanley from $16.00 to $18.00 in a research note published on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

RKT has been the topic of several other reports. The Goldman Sachs Group increased their price objective on shares of Rocket Companies from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. BTIG Research upgraded shares of Rocket Companies to a “strong-buy” rating in a research note on Tuesday, August 19th. Keefe, Bruyette & Woods upped their target price on shares of Rocket Companies from $14.00 to $15.00 and gave the company a “market perform” rating in a research note on Tuesday, August 5th. Barclays upped their target price on shares of Rocket Companies from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, August 1st. Finally, UBS Group set a $16.00 target price on shares of Rocket Companies and gave the company a “neutral” rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $16.65.

Rocket Companies Stock Performance

Shares of RKT stock opened at $20.10 on Monday. Rocket Companies has a one year low of $10.06 and a one year high of $22.56. The company’s 50-day moving average is $18.38 and its 200 day moving average is $15.04. The company has a market capitalization of $42.30 billion, a price-to-earnings ratio of -402.00 and a beta of 2.30. The company has a debt-to-equity ratio of 2.36, a quick ratio of 18.74 and a current ratio of 18.74.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. Rocket Companies had a negative net margin of 0.01% and a positive return on equity of 3.18%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the firm posted $0.06 EPS. Rocket Companies’s revenue for the quarter was up 4.5% on a year-over-year basis. Rocket Companies has set its Q3 2025 guidance at EPS. Sell-side analysts expect that Rocket Companies will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Rocket Companies

Several institutional investors have recently made changes to their positions in the business. Momentum Wealth Planning LLC bought a new position in shares of Rocket Companies in the 2nd quarter worth approximately $927,000. Reynders McVeigh Capital Management LLC bought a new position in shares of Rocket Companies in the 2nd quarter worth approximately $9,422,000. Osaic Holdings Inc. lifted its stake in shares of Rocket Companies by 46.5% in the 2nd quarter. Osaic Holdings Inc. now owns 29,861 shares of the company’s stock worth $423,000 after purchasing an additional 9,475 shares during the period. Marex Group plc bought a new position in shares of Rocket Companies in the 2nd quarter worth approximately $868,000. Finally, State of Wyoming lifted its stake in shares of Rocket Companies by 7.4% in the 2nd quarter. State of Wyoming now owns 28,921 shares of the company’s stock worth $410,000 after purchasing an additional 1,995 shares during the period. Institutional investors own 4.59% of the company’s stock.

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.