Overview
- Shares fell about 3.8% to $58.98 on Tuesday, with investors looking to Rocket Lab’s Nov. 10 after-hours Q3 report and consensus forecasts for a $0.10 loss on roughly $151 million in revenue.
- Wall Street says the earnings call will be scrutinized for updates on the Neutron rocket program and the trajectory of the Space Systems business.
- Recent momentum followed an October update that Rocket Lab completed a key Systems Integration Review for NASA and Eta Space’s LOXSAT cryogenic tech demo.
- Analyst enthusiasm has included a KeyBanc price target increase to $75 with an Overweight rating and Baird initiating at Outperform with an $83 target.
- On CNBC, investor Kevin Simpson cited roughly 30% year-over-year earnings growth and a backlog near $1 billion as reasons for optimism, while Jim Cramer labeled the stock a speculative name that still loses substantial money.