Rocket Companies Inc [NYSE: RKT] stock went on a downward path that fall over -1.44% on Thursday, amounting to a one-week price decrease of less than -2.61%. The company report on February 22, 2024 at 4:05 PM that Rocket Companies Announces Fourth Quarter and Full Year 2023 Results.
Generated Q4’23 net revenue of $694 million and adjusted revenue of $885 million. Adjusted revenue exceeded the high end of guidance range, and year-over-year growth accelerated for a second quarter in a row.
Reported full year 2023 net revenue and adjusted revenue of $3.8 billion.
Over the last 12 months, RKT stock rose by 45.51%. The one-year Rocket Companies Inc stock forecast points to a potential downside of -11.0. The average equity rating for RKT stock is currently 3.69, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $1.68 billion, with 135.81 million shares outstanding and 120.60 million shares in the current float. Compared to the average trading volume of 2.89M shares, RKT stock reached a trading volume of 2926233 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 $11.09 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 3.69. 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.
Citigroup have made an estimate for Rocket Companies Inc shares, keeping their opinion on the stock as Sell, with their previous recommendation back on January 16, 2024. While these analysts kept the previous recommendation, Deutsche Bank raised their target price to Hold. The new note on the price target was released on January 10, 2024, representing the official price target for Rocket Companies Inc stock. Previously, the target price had yet another raise from $8.50 to $10.50, while JP Morgan kept a Underweight rating on RKT stock. On January 03, 2024, analysts increased their price target for RKT shares from 13 to 14.
The Average True Range (ATR) for Rocket Companies Inc is set at 0.56, with the Price to Sales ratio for RKT stock in the period of the last 12 months amounting to 0.47. The Price to Book ratio for the last quarter was 2.68, with the Price to Cash per share for the same quarter was set at 8.31. Price to Free Cash Flow for RKT in the course of the last twelve months was 33.68.
RKT Stock Performance Analysis:
Rocket Companies Inc [RKT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.61. With this latest performance, RKT shares gained by 9.52% in over the last four-week period, additionally plugging by 26.39% over the last 6 months – not to mention a rise of 45.51% 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 52.01, with the RSI for the last a single of trading hit 51.36, and the three-weeks RSI is set at 52.09 for Rocket Companies Inc [RKT]. The present Moving Average for the last 50 days of trading for this stock 12.14, while it was recorded at 12.43 for the last single week of trading, and 10.32 for the last 200 days.
RKT Stock EPS
With the latest financial reports released by the company, Rocket Companies Inc posted -0.06/share EPS, while the average EPS was predicted by analysts to be reported at -0.09/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 33.30%. 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.
Rocket Companies Inc [RKT] Institutonal Ownership Details
The top three institutional holders of RKT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in RKT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in RKT stock with ownership which is approximately 5.8325%.
