KeyBanc analyst Philip Gibbs reiterated a Buy rating on Rocket Lab USA (RKLB – Research Report) today and set a price target of $8.00. The company’s shares closed yesterday at $4.26.
According to TipRanks, Gibbs is a 5-star analyst with an average return of 21.2% and a 66.82% success rate. Gibbs covers the Basic Materials sector, focusing on stocks such as Materion, Universal Stainless & Alloy Products, and Commercial Metals Company.
In addition to KeyBanc, Rocket Lab USA also received a Buy from Citi’s Jason Gursky in a report issued on May 6. However, on May 7, Wells Fargo maintained a Hold rating on Rocket Lab USA (NASDAQ: RKLB).
Based on Rocket Lab USA’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $67.66 million and a GAAP net loss of $40.57 million. In comparison, last year the company earned a revenue of $63.06 million and had a GAAP net loss of $34.61 million
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RKLB in relation to earlier this year.
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Rocket Lab USA (RKLB) Company Description:
Rocket Lab (NASDAQ:RKLB) is a space company offering launch services, spacecraft manufacturing, and other solutions, including the management of satellites. Furthermore, its space systems business manufactures spacecraft components.
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