Rocket Lab (RKLB) has successfully launched several government payloads on a suborbital mission using its HASTE rocket, which helps position the aerospace company as a key player in future missile defense projects. The launch took place at Rocket Lab’s site in Wallops Island, Virginia, and included a main payload developed by the Johns Hopkins University Applied Physics Lab, along with several secondary payloads.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
These were designed by both government and industry partners to test important missile defense technologies. The mission was part of the Defense Innovation Unit’s program focused on hypersonic and fast-paced airborne testing. Impressively, Rocket Lab launched the mission just 14 months after signing the contract, which shows that it is able to move quickly and efficiently when working with government clients.
In addition, this launch was the sixth time Rocket Lab has flown its HASTE rocket since it was introduced in 2023. As the U.S. looks to improve its missile defense systems, companies like Rocket Lab are becoming more important. Indeed, by delivering results on tight timelines while working closely with defense organizations, Rocket Lab is proving that it can support advanced military testing needs. As a result, this could help the company continue growing its already impressive $1.1 billion backlog.
Is RKLB Stock a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on RKLB stock based on nine Buys, four Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average RKLB price target of $64.33 per share implies 49.7% upside potential.
