Rocket Companies Inc. [RKT] Revenue clocked in at $15.98 billion, up 27.86% YTD: What’s Next?

Rocket Companies Inc. [NYSE: RKT] surged by $0.72 during the normal trading session on Monday and reaching a high of $27.76 during the day while it closed the day at $24.71. The company report on March 2, 2021 that Rocket Companies to Participate in Morgan Stanley Technology, Media & Telecom Virtual Conference.

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Rocket Companies, Inc. (NYSE: RKT) (“Rocket Companies” or the “Company”), a Detroit-based holding company consisting of tech-driven real estate, mortgage and financial services businesses – including Rocket Mortgage, Amrock, Rocket Homes and Rocket Auto – announced that Chief Executive Officer Jay Farner will participate in a fireside chat as part of Morgan Stanley’s 2021 Technology, Media & Telecom Virtual Conference beginning at 10:15 AM Eastern Time on Wednesday, March 3, 2021.

A live webcast of the event will be available online at ir.rocketcompanies.com, or by visiting morganstanley.webcasts.com. A replay of the webcast will be available on the Investor Relations section of the Company’s website within 24 hours of the conclusion of the event and will remain on the site for one year.

Rocket Companies Inc. stock has also gained 6.39% of its value over the past 7 days. However, RKT stock has inclined by 27.29% in the 3 months of the year. Over the past six months meanwhile, it has lost -2.44% and gained 27.86% year-on date.

The market cap for RKT stock reached $52.47 billion, with 115.37 million shares outstanding and 113.14 million shares in the current float. Compared to the average trading volume of 22.82M shares, RKT reached a trading volume of 28722711 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Rocket Companies Inc. [RKT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RKT shares is $24.86 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RKT stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

RBC Capital Mkts have made an estimate for Rocket Companies Inc. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on March 03, 2021. The new note on the price target was released on January 19, 2021, representing the official price target for Rocket Companies Inc. stock. Previously, the target price had yet another raise to $19, while Keefe Bruyette analysts kept a Underperform rating on RKT stock.

The Average True Range (ATR) for Rocket Companies Inc. is set at 3.54, with the Price to Sales ratio for RKT stock in the period of the last 12 months amounting to 3.28. The Price to Book ratio for the last quarter was 145.35, with the Price to Cash per share for the same quarter was set at 1.64.

RKT stock trade performance evaluation

Rocket Companies Inc. [RKT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.39. With this latest performance, RKT shares gained by 19.86% in over the last four-week period, additionally sinking by -2.44% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RKT stock in for the last two-week period is set at 53.91, with the RSI for the last a single of trading hit 50.75, and the three-weeks RSI is set at 52.78 for Rocket Companies Inc. [RKT]. The present Moving Average for the last 50 days of trading for this stock 21.60, while it was recorded at 29.26 for the last single week of trading.

Rocket Companies Inc. [RKT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Rocket Companies Inc. [RKT] shares currently have an operating margin of +65.76 and a Gross Margin at +99.51. Rocket Companies Inc.’s Net Margin is presently recorded at +1.31.

Return on Total Capital for RKT is now 36.63, given the latest momentum, and Return on Invested Capital for the company is 0.86. Return on Equity for this stock inclined to 10.46, with Return on Assets sitting at 0.69. When it comes to the capital structure of this company, Rocket Companies Inc. [RKT] has a Total Debt to Total Equity ratio set at 5,599.09. Additionally, RKT Total Debt to Total Capital is recorded at 98.25, with Total Debt to Total Assets ending up at 73.17. Long-Term Debt to Equity for the company is recorded at 5,599.09, with the Long-Term Debt to Total Capital now at 98.25.

Receivables Turnover for the company is 97.41 with a Total Asset Turnover recorded at a value of 0.53.

Earnings per share (EPS) analysis for Rocket Companies Inc. [RKT] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RKT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Rocket Companies Inc. go to 26.83%.

Rocket Companies Inc. [RKT]: Insider Ownership positions

There are presently around $2,076 million, or 74.00% of RKT stock, in the hands of institutional investors. The top three institutional holders of RKT stocks are: INVESCO LTD. with ownership of 10,692,985, which is approximately -0.603% of the company’s market cap and around 1.61% of the total institutional ownership; CALEDONIA (PRIVATE) INVESTMENTS PTY LTD, holding 9,548,827 shares of the stock with an approximate value of $235.95 million in RKT stocks shares; and BLACKROCK INC., currently with $199.63 million in RKT stock with ownership of nearly 174.552% of the company’s market capitalization.

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Positions in Rocket Companies Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 175 institutional holders increased their position in Rocket Companies Inc. [NYSE:RKT] by around 25,156,581 shares. Additionally, 89 investors decreased positions by around 19,790,341 shares, while 26 investors held positions by with 39,084,411 shares. The mentioned changes placed institutional holdings at 84,031,333 shares, according to the latest SEC report filing. RKT stock had 93 new institutional investments in for a total of 7,536,171 shares, while 48 institutional investors sold positions of 6,603,780 shares during the same period.

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