Rocket Companies Inc. [RKT] Revenue clocked in at $11.28 billion, down -25.88% YTD: What’s Next?

Related

Share

Rocket Companies Inc. [NYSE: RKT] stock went on an upward path that rose over 2.44% on Thursday, amounting to a one-week price increase of more than 13.41%. The company report on July 21, 2022 that Rocket Companies Announces Second Quarter 2022 Earnings Date.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free.

Sponsored


Rocket Companies, Inc. (NYSE: RKT) (“Rocket Companies” or the “Company”), a Detroit-based FinTech platform company consisting of tech-driven real estate, mortgage, and financial services businesses – including Rocket Mortgage, Rocket Homes, Rocket Auto and Rocket Money (formerly known as Truebill)– today announced the Company will issue its second quarter 2022 earnings on August 4, 2022. Management will host a conference call to discuss results at 4:30 p.m. ET on this date, and a press release detailing the Company’s results will be issued prior to the call.

A live webcast of the event will be available online at ir.rocketcompanies.com, or by navigating to Rocket Companies’ 2Q Earnings Call Webcast. A replay of the webcast will be available on the Investor Relations website following the conclusion of the event. If you are having issues viewing the webcast, please see the event help guide.

Over the last 12 months, RKT stock dropped by -42.00%. The one-year Rocket Companies Inc. stock forecast points to a potential downside of -15.59. The average equity rating for RKT stock is currently 3.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $17.93 billion, with 115.37 million shares outstanding and 110.39 million shares in the current float. Compared to the average trading volume of 4.17M shares, RKT stock reached a trading volume of 2559139 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $8.34 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 3.00. 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.

Wells Fargo have made an estimate for Rocket Companies Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 06, 2022. The new note on the price target was released on May 31, 2022, representing the official price target for Rocket Companies Inc. stock. Previously, the target price had yet another drop from $10 to $7, while Keefe Bruyette kept a Mkt Perform rating on RKT stock. On May 11, 2022, analysts decreased their price target for RKT shares from 14 to 8.

The Average True Range (ATR) for Rocket Companies Inc. is set at 0.43, with the Price to Sales ratio for RKT stock in the period of the last 12 months amounting to 1.59. The Price to Book ratio for the last quarter was 2.16, with the Price to Cash per share for the same quarter was set at 1.24.

RKT Stock Performance Analysis:

Rocket Companies Inc. [RKT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.41. With this latest performance, RKT shares gained by 42.18% in over the last four-week period, additionally sinking by -21.74% over the last 6 months – not to mention a drop of -42.00% in the past year of trading.

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 68.02, with the RSI for the last a single of trading hit 75.46, and the three-weeks RSI is set at 61.97 for Rocket Companies Inc. [RKT]. The present Moving Average for the last 50 days of trading for this stock 8.24, while it was recorded at 9.25 for the last single week of trading, and 12.06 for the last 200 days.

Insight into Rocket Companies Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Rocket Companies Inc. [RKT] shares currently have an operating margin of +66.76 and a Gross Margin at +99.25. Rocket Companies Inc.’s Net Margin is presently recorded at +3.08.

Return on Equity for this stock inclined to 53.34, with Return on Assets sitting at 0.88.

Rocket Companies Inc. [RKT] Insider Position Details

There are presently around $756 million, or 68.40% of RKT stock, in the hands of institutional investors. The top three institutional holders of RKT stocks are: INVESCO LTD. with ownership of 10,789,221, which is approximately 4.762% of the company’s market cap and around 4.30% of the total institutional ownership; VANGUARD GROUP INC, holding 10,028,437 shares of the stock with an approximate value of $94.37 million in RKT stocks shares; and CALEDONIA (PRIVATE) INVESTMENTS PTY LTD, currently with $87.63 million in RKT stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Rocket Companies Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 129 institutional holders increased their position in Rocket Companies Inc. [NYSE:RKT] by around 15,055,845 shares. Additionally, 126 investors decreased positions by around 8,296,553 shares, while 44 investors held positions by with 57,038,216 shares. The mentioned changes placed institutional holdings at 80,390,614 shares, according to the latest SEC report filing. RKT stock had 47 new institutional investments in for a total of 2,339,300 shares, while 61 institutional investors sold positions of 3,731,835 shares during the same period.

[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]