Rocket Lab (NASDAQ:RKLB) Stock Price Target Lowered at Piper Sandler

Rocket Lab (NASDAQ:RKLB) had its price target dropped by equities research analysts at Piper Sandler from $83.00 to $58.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the rocket manufacturer’s stock. Piper Sandler‘s price objective indicates a potential downside of 1.46% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. KGI Securities raised shares of Rocket Lab from a “neutral” rating to an “outperform” rating and set a $107.00 target price on the stock in a research note on Monday, July 27th. Raymond James Financial started coverage on shares of Rocket Lab in a research note on Friday, September 11th. They set an “outperform” rating and a $80.00 price target for the company. Roth Capital reaffirmed a “buy” rating on shares of Rocket Lab in a research note on Thursday, October 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rocket Lab in a report on Thursday, October 15th. Finally, Citizens Jmp reduced their price objective on shares of Rocket Lab from $130.00 to $90.00 and set a “market outperform” rating on the stock in a research report on Friday, October 16th. Three equities research 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 company. According to data from MarketBeat, Rocket Lab presently has an average rating of “Moderate Buy” and an average price target of $100.25.

Rocket Lab Stock Up 10.9%

NASDAQ RKLB opened at $58.86 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.98 and a current ratio of 5.48. The company has a market capitalization of $35.22 billion, a P/E ratio of -217.99 and a beta of 3.15. Rocket Lab has a one year low of $37.57 and a one year high of $151.00. The stock has a 50 day moving average price of $62.45 and a 200-day moving average price of $78.80.

Rocket Lab (NASDAQ:RKLB) last posted its quarterly earnings data on Monday, November 9th. The rocket manufacturer reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.05). The company had revenue of $267.83 million during the quarter, compared to the consensus estimate of $257.21 million. Rocket Lab had a negative net margin of 21.51% and a negative return on equity of 6.48%. As a group, equities analysts predict that Rocket Lab will post -0.20 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Nina Armagno sold 10,926 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $52.78, for a total transaction of $576,674.28. Following the completion of the sale, the director directly owned 100,496 shares of the company’s stock, valued at approximately $5,304,178.88. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 stock was sold at an average price of $69.63, for a total transaction of $1,048,001.13. Following the completion of the transaction, the insider owned 458,924 shares in the company, valued at approximately $31,954,878.12. The trade was a 3.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 90 days, insiders have sold 551,832 shares of company stock valued at $34,940,037. Insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab

Large investors have recently added to or reduced their stakes in the stock. Highland Investment Advisors LLC bought a new position in Rocket Lab in the 2nd quarter worth about $30,000. Meeder Asset Management Inc. purchased a new position in shares of Rocket Lab during the second quarter worth approximately $30,000. NBH Bank purchased a new position in shares of Rocket Lab during the second quarter worth approximately $30,000. Cherry Tree Wealth Management LLC bought a new stake in shares of Rocket Lab during the second quarter valued at approximately $32,000. Finally, Hilton Head Capital Partners LLC raised its stake in shares of 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 acquiring an additional 359 shares in the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab News Roundup

Here are the key news stories impacting Rocket Lab this week:

• Positive Sentiment: Revenue reached a record $267.8 million, up 72.7% year over year and above estimates. Rocket Lab also reported positive GAAP operating cash flow and a record backlog that grew 52% sequentially to about $3.57 billion. Management forecast record fourth-quarter revenue, with a midpoint of roughly $280 million, and gross-margin expansion. Rocket Lab Q3 financial results
• Positive Sentiment: Neutron secured more than $515 million in launch contracts during the quarter, bringing its backlog to 16 missions; the stated base launch price rose to $70 million. The deals point to customer demand ahead of the rocket’s debut. Neutron launch deals
• Neutral Sentiment: NASA selected Rocket Lab for lunar delivery work under its Commercial Lunar Payload Services program, alongside other providers. The awards offer potential future work, but the overall contract pool is shared among multiple companies. Rocket Lab selected for NASA lunar delivery contracts
• Negative Sentiment: The quarterly loss was wider than expected: GAAP loss per share was $0.12 versus the $0.07 loss analysts had forecast. Investors also focused on Neutron’s maiden launch being pushed to 2027 and the associated development costs, which may weigh on near-term profitability despite the strong sales outlook. Rocket Lab shares dip after earnings miss

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.