Rocket Companies Inc [RKT] stock prices are down -0.14% to $14.13 at the moment. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The RKT shares have gain 14.78% over the last week, with a monthly amount glided 28.69%, and seem to be holding up well over a long-time horizon.
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On 22, February 2024, Rocket Companies Announces Fourth Quarter and Full Year 2023 Results. In a post published today on Yahoo Finance, 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.
From an analyst’s perspective:
Rocket Companies Inc [NYSE: RKT] stock has seen the most recent analyst activity on January 16, 2024, when Citigroup downgraded its rating to a Sell and also boosted its price target to $10 from $9. On January 04, 2024, downgrade downgraded it’s rating to Underweight and revised its price target to $10.50 on the stock. Wells Fargo downgraded its rating to a Equal Weight and increased its price target to $14 on January 03, 2024. Keefe Bruyette downgraded its rating to a Underperform but $10.75 remained the price target by the analyst firm on January 03, 2024. In a note dated November 15, 2023, Barclays initiated an Underweight rating and provided a target price of $6 on this stock.
The stock price of Rocket Companies Inc [RKT] has been fluctuating between $7.17 and $15.19 over the past year. Currently, Wall Street analysts expect the stock to reach $14.63 within the next 12 months. Rocket Companies Inc [NYSE: RKT] shares were valued at $14.13 at the most recent close of the market. An investor can expect a potential return of 3.54% based on the average RKT price forecast.
Analyzing the RKT fundamentals
The Rocket Companies Inc [NYSE:RKT] reported sales of 3.58B for trailing twelve months, representing a surge of 34.43%. Gross Profit Margin for this corporation currently stands at 0.97% with Operating Profit Margin at -0.15%, Pretax Profit Margin comes in at -0.1%, and Net Profit Margin reading is -0.11%. To continue investigating profitability, this company’s Return on Assets is posted at -0.02, Equity is -0.68 and Total Capital is -0.03. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 14.8.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 13.90 points at the first support level, and at 13.66 for the second support level. However, for the 1st resistance point, the stock is sitting at 14.33, and for the 2nd resistance point, it is at 14.52.
Rocket Companies Inc [RKT] reported earnings per share of $0 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.04/share, meaning a difference of $0.04 and a surprise factor of 100.00%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0 per share as compared to estimates of -$0.03 per share, a difference of $0.03 representing a surprise of 100.00%.
Ratios To Look Out For
Considering the valuation of this stock, the price to sales ratio is 0.54, the price to book ratio is 3.07.
Transactions by insiders
Recent insider trading involved Rizik Matthew, Director, that happened on Mar 22 ’24 when 309.0 shares were purchased. Director, Rizik Matthew completed a deal on Mar 20 ’24 to buy 203.0 shares. Meanwhile, Director Rizik Matthew bought 213.0 shares on Mar 19 ’24.
