Rocket Companies (NYSE:RKT – Get Free Report) had its price objective decreased by equities research analysts at Wells Fargo & Company from $17.00 to $15.00 in a report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 12.48% from the stock’s current price.
Several other brokerages have also recently weighed in on RKT. Barclays dropped their target price on Rocket Companies from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Tuesday, July 7th. JPMorgan Chase & Co. dropped their price objective on Rocket Companies from $16.00 to $15.50 and set a “neutral” rating for the company in a research note on Monday, July 13th. Keefe, Bruyette & Woods dropped their price target on shares of Rocket Companies from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Thursday, June 25th. Weiss Ratings raised shares of Rocket Companies from a “sell (d)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Finally, Benchmark began coverage on shares of Rocket Companies in a research report on Monday, June 29th. They issued a “buy” rating and a $21.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.60.
View Our Latest Analysis on RKT
Rocket Companies Stock Performance
Rocket Companies (NYSE:RKT – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Rocket Companies had a return on equity of 4.30% and a net margin of 2.78%.The company’s revenue for the quarter was up 91.9% compared to the same quarter last year. During the same period last year, the firm earned $0.04 earnings per share. Research analysts expect that Rocket Companies will post 0.54 EPS for the current year.
Hedge Funds Weigh In On Rocket Companies
Hedge funds and other institutional investors have recently made changes to their positions in the business. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Rocket Companies in the second quarter valued at $67,795,000. Handelsbanken Fonder AB increased its position in Rocket Companies by 1.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 203,094 shares of the company’s stock valued at $3,199,000 after purchasing an additional 2,615 shares during the period. Fulton Bank N.A. bought a new position in Rocket Companies in the 2nd quarter worth $200,000. Valeo Financial Advisors LLC raised its holdings in Rocket Companies by 4.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 20,473 shares of the company’s stock worth $322,000 after purchasing an additional 823 shares in the last quarter. Finally, MFG Wealth Management Inc. lifted its position in shares of Rocket Companies by 20.2% in the 2nd quarter. MFG Wealth Management Inc. now owns 234,540 shares of the company’s stock worth $3,694,000 after purchasing an additional 39,449 shares during the period. Institutional investors own 4.59% of the company’s stock.
Rocket Companies News Roundup
Here are the key news stories impacting Rocket Companies this week:
- Positive Sentiment: Rocket reported second-quarter adjusted revenue of $2.76 billion, while total revenue reached $2.78 billion. GAAP net income was $229 million, and adjusted net income was $441 million. Revenue increased 91.9% from the prior-year quarter. Rocket Companies Announces Second Quarter 2026 Results
- Positive Sentiment: Adjusted earnings were $0.16 per share, up from $0.04 a year earlier and in line with Wall Street expectations. Management also pointed to mortgage-market share gains and record quarterly performance on the earnings call. Rocket Companies Q2 Earnings
- Neutral Sentiment: Unusually large options activity was reported in Rocket shares, potentially signaling elevated investor interest and volatility, but the item did not establish a clear directional catalyst. Rocket Companies Target of Unusually Large Options Trading
- Negative Sentiment: Revenue of $2.76 billion fell short of the approximately $2.81 billion consensus estimate, despite the sharp year-over-year increase. The earnings release and coverage described the results as strong but below expectations, which helps explain the negative stock reaction. Rocket Companies Shares Slid Despite Record Q2 Earnings
- Negative Sentiment: Rocket guided for third-quarter revenue of $2.5 billion to $2.7 billion, below the roughly $2.9 billion analyst consensus. The cautious outlook suggests that elevated mortgage rates and weaker housing demand could weigh on near-term origination activity. Redfin Reports Pending Home Sales Sink
Rocket Companies Company Profile
Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.
The company’s core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.
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