Wedbush Reaffirms “Neutral” Rating for Rocket Companies (NYSE:RKT)

Rocket Companies (NYSE:RKT)‘s stock had its “neutral” rating reissued by research analysts at Wedbush in a research note issued on Wednesday,Benzinga reports. They presently have a $13.00 price objective on the stock. Wedbush’s price target would suggest a potential downside of 12.42% from the company’s previous close. Wedbush also issued estimates for Rocket Companies’ Q2 2025 earnings at $0.11 EPS, Q3 2025 earnings at $0.12 EPS and FY2025 earnings at $0.47 EPS.

Several other analysts also recently weighed in on the company. Morgan Stanley decreased their target price on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. Piper Sandler cut their price target on Rocket Companies from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. UBS Group raised Rocket Companies from a “sell” rating to a “neutral” rating and cut their price target for the company from $12.50 to $11.50 in a report on Friday, January 10th. Keefe, Bruyette & Woods upped their price target on Rocket Companies from $10.50 to $12.00 and gave the company an “underperform” rating in a report on Monday. Finally, Barclays cut their price target on Rocket Companies from $14.00 to $13.00 and set an “underweight” rating for the company in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, Rocket Companies currently has a consensus rating of “Hold” and an average target price of $13.83.

Rocket Companies Price Performance

Shares of NYSE:RKT opened at $14.84 on Wednesday. The business has a 50 day moving average price of $12.31 and a 200 day moving average price of $15.05. Rocket Companies has a twelve month low of $10.06 and a twelve month high of $21.38. The company has a market cap of $29.61 billion, a price-to-earnings ratio of -92.77 and a beta of 2.43. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51.

Hedge Funds Weigh In On Rocket Companies

Hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. raised its holdings in shares of Rocket Companies by 324.4% in the 3rd quarter. Victory Capital Management Inc. now owns 67,161 shares of the company’s stock worth $1,289,000 after buying an additional 51,336 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Rocket Companies during the 3rd quarter worth approximately $1,071,000. XTX Topco Ltd bought a new stake in Rocket Companies during the 3rd quarter worth approximately $1,486,000. Entropy Technologies LP bought a new stake in Rocket Companies during the 3rd quarter worth approximately $875,000. Finally, Connective Portfolio Management LLC bought a new stake in Rocket Companies during the 4th quarter worth approximately $428,000. 4.59% of the stock is owned by institutional investors and hedge funds.

Rocket Companies Company Profile

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company’s solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.