Overview
- Rocket Lab shares jumped about 13% to a new 52‑week high on Monday after Needham raised its price target to $120 and kept a Buy rating.
- Needham cited a first‑quarter beat, with revenue of about $200.4 million up roughly 63% year over year, while EPS matched expectations at minus $0.07 and the company lifted its guidance for the second quarter.
- The company’s backlog climbed to about $2.2 billion, helped by 31 newly booked launches, a $30 million Anduril award for HASTE hypersonic test flights, and additional Neutron and Electron missions.
- Needham said the first Neutron test launch remains on track for the fourth quarter of 2026, and it views the medium‑lift rocket as the key to better margins and future cash generation.
- Other firms also raised targets, as analysts pointed to expanding defense and space‑systems work, including the Motiv robotics acquisition and Rocket Lab’s new Gauss electric propulsion line.