Rocket Lab (RKLB) stock attracted fresh analyst attention after the space company delivered record Q1 revenue results that topped Wall Street expectations, prompting several firms to raise price targets while maintaining bullish ratings on the shares.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Analysts Raised Price Targets on RKLB Stock Following Strong Q1 Results
Following Rocket Lab’s earnings report, analysts pointed to strength across the company’s launch and space systems businesses.
Clear Street analyst Gregory Pendy raised his price target on RKLB stock to $98 from $88 while maintaining a Buy rating. Pendy noted that Rocket Lab’s record Q1 revenue beat expectations by 5%, driven by strength across launch services and space systems. The analyst also highlighted the company’s growing backlog and increasing momentum tied to the Neutron program.
Additional analyst coverage of RKLB stock included:
- Craig-Hallum analyst Jeff Van Rhee upgraded RKLB stock to a Buy rating and raised his price target to $98 from $68, implying a potential 15.70% downside for the shares.
- Citizens JMP analyst Trevor Walsh reiterated a Buy rating while increasing his price target to $95 from $85, suggesting a possible 18.28% downside.
- Stifel analyst Erik Rasmussen initiated coverage of RKLB stock with a Buy rating and a $110 price target, representing a potential 5.38% downside.
- Needham analyst Ryan Koontz reiterated a Buy rating and boosted his price target to $120 from $95, implying a potential 3.38% upside for the shares.
- TD Cowen analyst Gautam Khanna also initiated coverage with a Buy rating and a $120 price target, matching Needham’s upside outlook.
What About the Best Analyst Covering RKLB Stock?
Among the analysts covering Rocket Lab, Citi analyst Jason Gursky stands out as one of the most accurate and profitable voices following the stock. He holds a Buy rating and a $50 price target.
Over the past year, Gursky has delivered a perfect 100% success rate with an average return of 333.32% per rating. His two-year performance remains equally impressive, maintaining a 100% success rate alongside an average return of 555.8%.
How Did RKLB Stock React to Today’s Analyst Updates?
Rocket Lab stock was up 12.36% on Monday, extending a 70.13% year-to-date rally. The stock has also gained 396.1% over the past 12 months. Trading activity today saw some 17 million shares change hands, compared to a three-month average daily trading volume of about 23 million shares.
