Rocket Companies
RKT
Market cap $2.43B

17.29 USD

-0.27

1.54%

At close Oct 9, 4:00 PM EDT

After hours

17.28

-0.01

0.06%

1 day

-1.54%

5 days

-7.88%

1 month

-9.48%

3 months

30.49%

6 months

22.54%

Year to date

21.08%

1 year

112.67%

5 years

-19.62%

About: Rocket Companies is a financial services company that was originally founded as Rock Financial in 1985 and is currently based in Detroit. Rocket Companies offers a wide array of services and products but is best known for its Rocket Mortgage business. The company's mortgage lending operations are split between its direct-to-consumer lending, which sees borrowers accessing the company's lending arm directly through either its mobile app or website, and its partner network where mortgage brokers and other firms use Rocket's origination process to offer loans to their customers. The company has rapidly gained market share in recent years and is now the largest mortgage originator in the U.S. as well as the servicer for more than 2 million loans.

Employees: 14,700

Financials Mortgage Bankers & Loan Correspondents

0

Funds holding %

of 6,740 funds

0

Analysts bullish %

of 13 analysts

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

116% more call options, than puts

Call options by funds: $67.2M | Put options by funds: $31.1M

55% more first-time investments, than exits

New positions opened: 48 | Existing positions closed: 31

47% more repeat investments, than reductions

Existing positions increased: 94 | Existing positions reduced: 64

7% more funds holding

Funds holding: 235 [Q1] → 252 (+17) [Q2]

1.06% less ownership

Funds ownership: 70.14% [Q1] → 69.08% (-1.06%) [Q2]

5% less capital invested

Capital invested by funds: $1.4B [Q1] → $1.32B (-$74.8M) [Q2]

33% less funds holding in top 10

Funds holding in top 10: 3 [Q1] → 2 (-1) [Q2]

See Fund Rankings

Research analyst outlook

13 Wall Street Analysts provided 1 year price targets over the past 3 months

Low target

$10

42%

downside

Avg. target

$15.12

13%

downside

High target

$20

16%

upside

13 analyst ratings

0 positive

0%

6 neutral

46%

7 negative

54%

Barclays Terry Ma 17% 1-year accuracy 1 / 6 met price target	19%downside $14	Underweight Maintained	8 Oct 2024
JP Morgan Richard Shane 72% 1-year accuracy 26 / 36 met price target	10%upside $19	Underweight Maintained	7 Oct 2024
UBS Douglas Harter 60% 1-year accuracy 6 / 10 met price target	19%downside $14	Sell Maintained	16 Sept 2024
RBC Capital Daniel Perlin 71% 1-year accuracy 36 / 51 met price target	16%upside $20	Sector Perform Maintained	11 Sept 2024
Wedbush Jay McCanless 52% 1-year accuracy 29 / 56 met price target	4%upside $18	Neutral Maintained	11 Sept 2024

See Analyst Rankings

Financial journalist opinion

Based on 8 articles about RKT published over the past 30 days

Rocket Companies Names Venmo Chief Technology Officer, Former PayPal Executive, Papanii Okai EVP of Product Engineering

Okai brings years of tech leadership to Rocket as the company continues its strategy of AI-fueled homeownership DETROIT , Oct. 7, 2024 /PRNewswire/ -- Rocket Companies (NYSE: RKT), the Detroit-based fintech platform company including mortgage, real estate and other financial service businesses, today named Venmo Chief Technology Officer and former PayPal technology executive Papanii Okai the Executive Vice President (EVP) of Product Engineering – effective October 7. In this newly created role, Okai will work with the company's senior technology leaders to create AI-driven products at an even greater velocity.

Rocket Companies Names Venmo Chief Technology Officer, Former PayPal Executive, Papanii Okai EVP of Product Engineering

Rocket Mortgage and Annaly Capital Management, Inc. Enter Strategic Subservicing Relationship

Detroit-based Rocket Mortgage will manage a portion of Annaly's serviced clients DETROIT , Oct. 1, 2024 /PRNewswire/ -- Rocket Mortgage, the nation's largest mortgage lender and a part of Rocket Companies (NYSE: RKT), and Annaly Capital Management, Inc. (NYSE: NLY) ("Annaly"), the world's largest residential mortgage real estate investment trust, today announced the companies have entered into a subservicing agreement. Under the relationship, Rocket will handle all servicing and recapture activities for a portion of the mortgage servicing rights ("MSR") held by Annaly.

Rocket Mortgage and Annaly Capital Management, Inc. Enter Strategic Subservicing Relationship

Rocket Companies: Continued Upside Expectation Is Justified

Federal funds rate cuts create a favorable market environment for mortgage lenders and refinancers. Rocket Companies could capitalize on this demand as the company has a history of strong execution even in bad economic conditions. The company's valuation is attractive as further valuation expansion potential exists in the coming quarters.

Rocket Companies: Continued Upside Expectation Is Justified

HELOC demand from homeowners surging as Fed cuts interest rates

Mortgage lenders are reporting an uptick in interest from homeowners looking for ways to extract equity from their houses through home-equity lines of credit as mortgage rates are poised to fall.

HELOC demand from homeowners surging as Fed cuts interest rates

CNBC Television

Rate cut is already baked into mortgage rates, says Rocket Companies CEO Varun Krishna

Rocket Companies CEO Varun Krishna joins ‘The Exchange' to discuss the Fed's impact on mortgage rates, the state of the housing market, and more.

Rate cut is already baked into mortgage rates, says Rocket Companies CEO Varun Krishna

3 Stocks to Watch as Call Option Activity Heats Up

Whenever investors think of how to get exposure to a stock's direction, they typically only think of buying or selling a stock. However, professionals tend to delve a bit deeper into their views through the use of stock options.

3 Stocks to Watch as Call Option Activity Heats Up

3 Key Reasons Why Rocket Companies Stock Will Rally Soon

Markets will always have a reason to keep the market going, and always come up with reasons as to why a stock might be falling, whether these reasons are valid or not. Today, investors need to cut out the noise as volatility starts to hit the S&P 500 and other baskets of stocks, especially the ones that carry the most potential tail risk for a new rally based on fundamental reasons as well as technical.

3 Key Reasons Why Rocket Companies Stock Will Rally Soon

Rocket Companies Leaders Unveil Long-term Growth Strategy at Inaugural Investor Day

DETROIT , Sept. 10, 2024 /PRNewswire/ -- Rocket Companies, Inc. (NYSE: RKT) ("Rocket Companies" or the "Company"), the Detroit-based fintech platform company including mortgage, real estate and other financial services businesses, will host its first Investor Day today at 9:00 a.m.

Rocket Companies Leaders Unveil Long-term Growth Strategy at Inaugural Investor Day

Mortgage Technology Veteran Dan Sogorka to Lead Rocket's Broker Business Into AI-Driven Revolution

Sogorka, a former Business Unit President at Black Knight and CEO of mortgage technology firms Sagent and Cloudvirga, named General Manager of Rocket Mortgage's unit serving mortgage brokers Click here to download high resolution headshot DETROIT , Sept. 3, 2024 /PRNewswire/ -- Rocket Companies (NYSE: RKT) today announced it has named Dan Sogorka as General Manager of Rocket Pro Third Party Origination (TPO), the mortgage broker business of Rocket Mortgage, effective September 3.

Mortgage Technology Veteran Dan Sogorka to Lead Rocket's Broker Business Into AI-Driven Revolution

Rocket Companies to Host Investor Day on Tuesday, September 10, 2024

DETROIT , Aug. 26, 2024 /PRNewswire/ -- Rocket Companies, Inc. (NYSE: RKT) ("Rocket Companies" or the "Company"), the Detroit-based fintech platform company including mortgage, real estate and other financial services businesses, today announced that the Company will host its first Investor Day on Tuesday, September 10, 2024 starting at 9:00 a.m. ET in Detroit, Michigan.

Rocket Companies to Host Investor Day on Tuesday, September 10, 2024

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