Rocket Lab (NASDAQ:RKLB) Given New $103.00 Price Target at Morgan Stanley

Rocket Lab (NASDAQ:RKLB) had its target price decreased by Morgan Stanley from $105.00 to $103.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the rocket manufacturer’s stock. Morgan Stanley‘s price objective would suggest a potential upside of 53.86% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC lowered their target price on shares of Rocket Lab from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday. Cantor Fitzgerald reduced their price target on shares of Rocket Lab from $122.00 to $111.00 and set an “overweight” rating for the company in a research note on Tuesday. KeyCorp reiterated an “overweight” rating and issued a $100.00 price objective on shares of Rocket Lab in a report on Tuesday. Barclays lowered their price objective on shares of Rocket Lab from $85.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Bank of America dropped their target price on Rocket Lab from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, August 31st. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $99.00.

Rocket Lab Stock Performance

Shares of RKLB traded up $4.23 during trading hours on Wednesday, reaching $66.94. 14,766,073 shares of the company’s stock traded hands, compared to its average volume of 22,776,660. The firm has a market capitalization of $40.05 billion, a price-to-earnings ratio of -186.56 and a beta of 3.15. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.48 and a quick ratio of 4.98. Rocket Lab has a twelve month low of $37.57 and a twelve month high of $151.00. The business’s fifty day simple moving average is $62.42 and its two-hundred day simple moving average is $78.68.

Rocket Lab (NASDAQ:RKLB) last issued its quarterly earnings data on Monday, November 9th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05). The company had revenue of $267.83 million for the quarter, compared to the consensus estimate of $257.21 million. Rocket Lab had a negative net margin of 25.73% and a negative return on equity of 7.71%. Analysts predict that Rocket Lab will post -0.20 earnings per share for the current year.

Insider Buying and Selling at Rocket Lab

In other Rocket Lab news, CFO Adam C. Spice sold 140,157 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $70.82, for a total value of $9,925,918.74. Following the sale, the chief financial officer directly owned 1,155,967 shares in the company, valued at approximately $81,865,582.94. The trade was a 10.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Marvin Clevenger sold 15,051 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $69.63, for a total transaction of $1,048,001.13. Following the completion of the sale, the insider directly owned 458,924 shares of the company’s stock, valued at $31,954,878.12. The trade was a 3.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 551,832 shares of company stock valued at $34,940,037. Corporate insiders own 8.40% of the company’s stock.

Institutional Trading of Rocket Lab

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hilton Head Capital Partners LLC lifted its stake in Rocket Lab by 3,590.0% during the third quarter. Hilton Head Capital Partners LLC now owns 369 shares of the rocket manufacturer’s stock valued at $26,000 after purchasing an additional 359 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Rocket Lab in the second quarter worth approximately $30,000. Highland Investment Advisors LLC bought a new position in shares of Rocket Lab in the second quarter valued at $30,000. NBH Bank bought a new position in shares of Rocket Lab in the second quarter valued at $30,000. Finally, Cherry Tree Wealth Management LLC bought a new position in shares of Rocket Lab in the second quarter valued at $32,000. 71.78% of the stock is currently owned by institutional investors.

Top Rocket Lab Stories

These are some of the RKLB stories that stood out recently:

• Positive Sentiment: Shares moved above a reported $59 resistance level in Tuesday’s trading, which technical analysis coverage said could signal further momentum if buyers remain in control. Stock of the Day: Did Rocket Lab Breakout Yesterday?
• Positive Sentiment: ARK Invest reportedly bought about $3.4 million of Rocket Lab shares, while a separate analysis noted that SpaceX’s reported pause in booking Falcon 9 rideshare missions beyond late 2028 could tighten launch supply. Rocket Lab has secured eight Neutron missions worth roughly $515 million, with several priced at a $70 million base rate. Cathie Wood Just Bought $3.4 Million of This Surging Space Stock
• Negative Sentiment: The quarter’s $0.12-per-share loss was wider than expected, and Neutron’s first launch is not expected before 2027. Those concerns, along with ongoing development costs, have prompted some analysts to cut targets and could weigh on sentiment despite strong sales and backlog growth. Rocket Lab’s Record Backlog Could Fuel a Rebound, But Neutron Raises the Stakes

Rocket Lab Company Profile

Rocket Lab is a space company that provides launch services and spacecraft and satellite systems for commercial, civil, and national security customers. Founded in 2006 by Peter Beck, the company operates internationally, with headquarters in Long Beach, California, and launch operations in New Zealand and the United States. Its launch business centers on Electron, a small orbital rocket designed to carry satellites to space, and HASTE, a suborbital vehicle used for hypersonic test missions. Rocket Lab is also developing Neutron, a larger launch vehicle.