Rocket Lab (NASDAQ:RKLB) Price Target Cut to $67.00 by Analysts at Morgan Stanley

Rocket Lab (NASDAQ:RKLB) had its target price trimmed by Morgan Stanley from $68.00 to $67.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the rocket manufacturer’s stock.

Several other brokerages have also recently weighed in on RKLB. Roth Capital restated a “buy” rating and set a $75.00 price objective on shares of Rocket Lab in a research note on Tuesday. Cantor Fitzgerald increased their target price on shares of Rocket Lab from $35.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Citigroup restated a “market perform” rating on shares of Rocket Lab in a report on Wednesday. Needham & Company LLC increased their price objective on shares of Rocket Lab from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Baird R W raised shares of Rocket Lab to a “strong-buy” rating in a research report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Rocket Lab presently has an average rating of “Moderate Buy” and a consensus target price of $57.33.

Rocket Lab Stock Down 9.4%

Shares of NASDAQ:RKLB traded down $4.72 during midday trading on Wednesday, hitting $45.25. 26,146,500 shares of the company’s stock were exchanged, compared to its average volume of 20,815,697. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.18 and a quick ratio of 2.33. The stock has a 50 day moving average price of $55.86 and a 200-day moving average price of $42.57. The company has a market cap of $21.90 billion, a PE ratio of -119.08 and a beta of 2.16. Rocket Lab has a 12 month low of $14.71 and a 12 month high of $73.97.

Rocket Lab (NASDAQ:RKLB) last released its quarterly earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $155.08 million during the quarter, compared to the consensus estimate of $152.45 million. Rocket Lab had a negative return on equity of 27.26% and a negative net margin of 35.64%.The company’s quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.10) EPS. Rocket Lab has set its Q4 2025 guidance at EPS. On average, sell-side analysts anticipate that Rocket Lab will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Peter Beck sold 1,436,442 shares of Rocket Lab stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $48.75, for a total value of $70,026,547.50. Following the completion of the transaction, the chief executive officer owned 2,500,000 shares in the company, valued at $121,875,000. This trade represents a 36.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Arjun Kampani sold 9,416 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $47.70, for a total transaction of $449,143.20. Following the completion of the sale, the senior vice president directly owned 489,629 shares in the company, valued at approximately $23,355,303.30. This trade represents a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,406,361 shares of company stock worth $267,483,973 in the last quarter. 11.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Rocket Lab by 5.4% in the third quarter. Vanguard Group Inc. now owns 41,809,723 shares of the rocket manufacturer’s stock worth $2,003,104,000 after buying an additional 2,127,565 shares in the last quarter. Capital World Investors increased its holdings in Rocket Lab by 9.4% during the 3rd quarter. Capital World Investors now owns 14,462,103 shares of the rocket manufacturer’s stock worth $692,879,000 after acquiring an additional 1,242,547 shares during the period. Baillie Gifford & Co. increased its holdings in Rocket Lab by 176.1% during the 3rd quarter. Baillie Gifford & Co. now owns 12,125,910 shares of the rocket manufacturer’s stock worth $580,952,000 after acquiring an additional 7,734,788 shares during the period. Invesco Ltd. lifted its stake in Rocket Lab by 67.0% in the 2nd quarter. Invesco Ltd. now owns 6,242,304 shares of the rocket manufacturer’s stock worth $223,287,000 after purchasing an additional 2,504,054 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in Rocket Lab in the 2nd quarter valued at $192,918,000. Institutional investors own 71.78% of the company’s stock.

Rocket Lab Company Profile

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.