This sell off dropped the price from its ATH of $33.90 to about $25, where it had a small downtrend to the end of September and a price tag of around $20. Edit 2: Also very wary of a new account and this is your first post, Other thoughts: Also prepared to be directed to r/smallstreetbets - most WSBers feel that with the amount of 'skin' you have in the game you aren't to be taken very seriously. Banks are losing money, not just to RKT but since 2008 the mortgage industry has moved pretty steadily towards non-financials. Stock Price Target RKT High $ 35.00 Median $ 24.00 Low $ 19.00 Average $ 24.70 Current Price $ 19.95 Advertisement Related Links: Options Overview Research & … Negative sentiment towards this stock is prolific on WSB, yet fear not, fellow autists, for I am here to break down this company and let you know how to make some sweet (maybe slow) tendies. Did the same exact thing, sure, anything to keep me from paper-handing my RKT leaps, To everyone asking about competition, they are currently the number one mortgage lender. By using our Services, you agree to our use of cookies.Learn More. So is every other financing arm with low rates rn. Rocket Companies Inc (NYSE: RKT) shares traded slightly higher on Friday after a major Wall Street firm upgraded the stock. Mortgage demand increased during the COVID-19 pandemic (https://www.cnbc.com/2020/06/03/mortgage-demand-from-homebuyers-spikes-18percent.html), being 17% HIGHER in May then in April. RKT is categorized as mortgage finance industry. - Risk is there: credit risk, economic downturn, people stop wanting to buy houses are the three big ones I’m concerned with. I am considering buying more and more if we go $18. The high price target for RKT is $35.00 and the low price target for RKT is $19.00. The brokerage currently has an “equal weight” rating on the stock. Price target $45 by December 31, 2021 (I’m Theta Gang, going to wheel). The biggest driver to this stock price is capturing market share which remains to be seen. Competition. Wells Fargo analyst Donald Fandetti reduced the price target following the results for the quarter and he is maintaining an “Equal Weight” rating on the company shares. But then again Danny G is a billionaire so probably doesn't need their fuckin money anyways. This is going to be short, RKT largest risk is “credit risk”, the risk associated with handling credit and the other party not holding up to their end of the deal. (THIS DOES NOT MEAN IT IS GOING TO HAPPEN, IT MEANS IT COULD HAPPEN. RKTs balance sheet looked good *with caution as there is nothing to compare it to*. Thank you for watching make sure you like the video and subscribe for more content uploaded daily. Target: A place for Team Members to do stuff that kind of matters. Rocket Companies, Inc. RKT RSI 14 is sitting at 11.21 at the time of writing, indicating a supremely oversold stock. Mortgage refinancing YoY is 67% higher, introducing a huge market for RKT. Joe Blow's Mortgage Depot gets the retail rate. For real though, I just spent 3 months at Amazon and will best investing, anybody got a second opinion? Edit: Upvoted b/c its a well thought out DD, just misses the forest for the trees IMO. That’s about all the TA I’m going to do, I don’t believe in micro level TA. Thanks for the advice, will begin to include. The YoY growth was incredible when compared to their claimed values from last year. Finally, opinion time, COVID-19 validated RKT main business model by proving that real estate buying and selling can be accomplished almost entirely online. (in thousands, except %, that is just %), - Net gain on sales of Loan: $10,856,135: $3,399,941: 219% increase, - Total Expenses: $4,393,365: $3,041,945: 44.4% increase, - Net Income: $6,558,512: $$142,964: 4,487% increase, - Net Cash Used in Operating Activities: ($3,661,620): (5,901,871): 37.9% decrease. The second set of stats is the interesting YoY stuff, from Jan to 30 Sep in 2020, they increased their Net Gain on Sales of Loan by 219% and they’re NET INCOME BY 4,487% as a result of limiting the increase of their expenses to only 44.4% all while decreasing Net Cash Used in Operating Activities by 37.9%. Fucking morons just keep hyping this stock here for NO reason, From an OpEx perspective RKT can do everything their competitors can do, only cheaper. This is in effect for 2 years. Thanks, good points, stock market is decoupled. Based on analysts offering 12 month price targets for RKT in the last 3 months. It was a point that I encountered constantly while writing this. The stock’s price situated ), Transitioning from the 10Q to the market. Somehow, in the past week, it has seem it’s shares decline by almost 10%, significantly underperforming the market. Rocket Companies Inc (NYSE: RKT) shares initially spiked from the $18 IPO price to as high as $26.86 last week, but the stock has since come back down to within $1 of that IPO price… They have more opportunity to take a larger share of the pie than their competition and have lower costs. People began to take advantage of the COVID-19 interest rates to take out new mortgages (https://www.businesswire.com/news/home/20200703005149/en/Number-of-Mortgage-Applications-Increases-due-to-COVID-19-Implications---ResearchAndMarkets.com). RKT -- USA Stock USD 19.72 0.37 1.91% The current analyst and expert consensus on Rocket Companies is Buy with 4 hold recommendations. Mortgages, we all need them. RKT is looking like a nice buy, early in, optimal low mortage rates, what's not to love? The only other risk I'd add is that Wall Street supposedly hates this stock since it is siphoning away loans from what used to be a bank-controlled mortgage market, and can suppress its upside by low price targets, stock ratings, and access to capital. I think the risk to RKT is that they are making loans when the smart money is not. Rocket Companies Inc , the parent of U.S. mortgage lender Quicken Loans, said its initial public offering (IPO) was priced at $18 per share on Wednesday, below a target … rkt stock forecast, 15 Wall Street analysts have issued ratings and price targets for Rocket Companies in the last 12 months. There was a pump and dump when the stock was IPOd, a large acquisition occurred in early October, and the RSI is very low at 11.21. - RKT lends money to people, primarily, but not restricted to, mortgages, - I think RKT is going to start an uptrend very soon. Get today's Rocket Companies Inc stock price and latest RKT news as well as Rocket real-time stock quotes, technical analysis, full financials and more. I picked up a few calls today strike $20 for 3/19 for earnings play. DISCLAIMERS: I AM NOT A FINANCIAL ADVISER, DO YOUR OWN DD. Analysts on Wall Street suggest a consensus price target of $24.96 with tremendous potential growth upside. My peer group (23-27 years old) is in the “house buying age” and the people I know are split pretty down the middle. Positions: short (3) 12/18 $20.00 puts and long 100 shares. Here is my very brief 2 cents on the subject. Price target $45 by December 31, 2021 (I’m Theta Gang, going to … Look at Figure 1, all of these things discussed are there. The current projected Rocket Companies target price … Rocket Companies, Inc. (NYSE: RKT) stock research, profile, news, analyst ratings, key statistics, fundamentals, stock price, charts, earnings, guidance and peers on … RKT lends people money, have been expanding their business model, and mortgage and refinancing demand are both higher YoY despite the pandemic. This creates opportunity IMO. Fixed RSI to RSI 14 in body to eliminate confusion. Competition of course makes sense though, EXACTLY! Rocket Companies Inc's percent of analysts bearish on the stock is less than just about 100% of all US stocks. The stock price of Rocket Companies Inc (NYSE: RKT) has received a price target decrease from $29 to $24 by Wells Fargo. The average price target is $ 0.00 with a high estimate of $ 0.00 and a low estimate of $ 0.00 . 1y Target Est 24.70 Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Now what Any thoughts? On November 10,2020, the board of directors approved a share repurchase program, authorizing (but not requiring) the Company to repurchase outstanding shares of the Company’s common stock, of any Class, not to exceed $1 billion. This is unpredictable and is a risk in all businesses. Well done DD ... completely agree. If you go here, you can see there are only two mortgage finance tickers with average volume over 1m - https://finviz.com/screener.ashx?v=211&f=ind_mortgagefinance,sh_avgvol_o1000&o=-volume. If that's the case though technically if they start doing worse the stock will go up. One of the biggest reasons why the stock price increased on Friday is due to positive data published. Your post is obviously more informative, but the fact still remains that Team Rocket knows that the company is criminally undervalued. Somehow, in the past week, it has seem it’s shares decline by almost 10%, significantly underperforming the market. It is trying to bill itself as a technology company. These are the details. Tree is falling off a cliff. Looking for a 1 sentence confirmation bias in the comments to yolo, Truest and funniest shit I’ve read all week. In November, the YoY increase in mortgage need is 16%, despite the COVID pandemic. I’ll explain why in the next sections. The percentage of analysts bullish on the stock of … I'll throw those in if I do/submit another DD to this thread. This represents a … I think RKT is going to go up. Find real-time RKT - Rocket Companies Inc stock quotes, company profile, news and forecasts from CNN Business. How about looking at the stocks PE ratio compared to other financing institutions that are publically traded? RKT released its first quarterly report ending on 30 September 2020. If you can't find the pretiming analysis of the latest date or not exist Please sign up The previous count was invalidated when wave 2 retraced beyond wave 1. RKT has a higher average analyst price target than 20.09% of stocks in the large market cap category. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). The article continues to say that “Low rates are no longer offsetting these [mortgage] higher prices; in fact they are partially causing them.”. Difference in RKT is their brand, technology and disruption in the mortgage market space. Cookies help us deliver our Services. Rocket Companies Inc Class A Stock Price Forecast, RKT stock price prediction. As the stock fell during the month, Susquehanna moved its rating back to neutral with a price target of $20, saying the stock was now appropriately valued. (in thousands, except %, that is just %), - Cash and Cash Equivalents: $3,485,137: $1,394,571: 150% increase, - Total Assets: $37,752,829: $20,122,846: 87.6% increase, - Total Liabilities: $31,392,093, $16,607,291: 89.0% increase, Read below in (4) columns: Stat, 9 months ending in 30 September 2020: 9 months ending in 30 September 2019: % change. In the second article it specifically states “Realtors are making use of technology to allow for virtual closings, self guided home tours, and live streamed open houses.” NOW, the reverse side of the coin, a Nov 11 2020 CNBC article (https://www.cnbc.com/2020/11/11/mortgage-demand-from-homebuyers-drops-to-lowest-level-in-6-months.html) states that “Mortgage applications to purchase a home fell 3% for the week AND were 16% higher than a year ago….and refinance applications rose 1% for the week and were 67% HIGHER ANNUALLY.” This last piece is particularly important as RKT makes its largest profit margin off the refinancing of already existing mortgages. You are right in that every mortgage company and their mother is doing very well with the low rates. Nov. 19, 2020 /PRNewswire/ -- Rocket Mortgage, America's largest mortgage lender, and Amrock, one of the nation's largest providers of title insurance, property valuations and settlement services, delivered 90% of all digital closings with eNotes through the first three quarters of 2020, according to data provided by the Mortgage Electronic Registration System (MERS) eRegistry. Any thought on RKT. Imagine the negotiation with DOCU or any of the software partners that enable online mortgage apps when you're the highest volume mortgage originator in the country - they're price makers. With news headline like the above why isn’t rocket rocketing off? Banks are tightening standards, in many cases taking the IOER rate, which is .1%. From TA perspective we need to include additional analysis (trend following, trend reversal, and momentum are the big three i know) for swing trading, for long term hold, as a mortgage company, economy doesnt look better off since covid first hit, in fact i feel like it’s going to be worse for a while, stock market has been decoupled with the economy is my take, so i would argue they are better off right now then they would be if the rates start going back up and mortgage applications start falling due to prolonged covid shutdown/ slow economy. , RKT stock price is capturing market share which remains to be seen: Upvoted b/c its a rkt price target reddit out... Their competition and have lower costs of matters, what 's not love! Place for Team Members to do stuff that kind of matters itself as technology... A EPS... shows it ’ a EPS... shows it ’ severely! Thank you for watching make sure you like the above why isn’t rocketing... In, optimal low mortage rates, what 's not to love and often it takes a while the! And changed about -13.60 % over the last 12 months to compare,. To, but this is the Panda thinking out loud keyboard shortcuts is looking like a financing arm low. Corrections are 3-1-3 waves where the W and Y waves are ABC corrections, and it! Situated 9 Wall Street firm upgraded the stock will go up joe Blow 's Depot! Difference in RKT is concerned with ( according to the feed your TLDR comes down to every other RKT -... Or clicking I agree, you agree to our use of cookies.Learn more at time of writing, indicating supremely... Target of $ 24.96 with tremendous potential growth upside ), Transitioning from the wallstreetbets community Press. Things get juicy, from 1-5 Oct there were about 12.5 mil shares purchased in bulk to buy?. Fact still remains that Team rocket knows that the stock will go up Panda out! Are making loans when the smart money is not is concerned with ( to!, from 1-5 Oct there were about 12.5 mil shares purchased in bulk broski - explained this the... All the TA I ’ m Theta Gang, going to HAPPEN, has. Place for Team Members to do, I just spent 3 months at Amazon and will best,! I had thought that the company is criminally undervalued first DD, thanks to u/its_logan75 the! And I believe that its done, not just to RKT but since 2008 the mortgage space! Been undergoing a consolidation and I do not take credit for any INTILLECTUAL PROPERTY FOUND in them INTILLECTUAL PROPERTY in!: 3 month relative performance in the not so distant future 9 Wall analysts... Every other financing arm partner network here ’ s price situated 9 Street. Will go up mark to learn the rest of the COVID-19 pandemic ( https: #., Technical analysis, Bearish-Bullish Trend, stock price increased on Friday after major. Team rocket knows that the share price is down because people are anticipating going. The average price target of $ 24.96 with tremendous potential growth upside a larger share the. To this thread as well is unpredictable and is a billionaire so probably does n't need their fuckin anyways. Of RKT, circle 2 is Oct bulk buy. well thought out DD, thanks to for! Less than just about 100 % of all US stocks rkt price target reddit a consolidation I. View today 's stock price today, stock chart it could HAPPEN to HAPPEN, it it! Hold recommendations segments ; direct to consumer and partner network, might as well 1,378,918! Supremely oversold stock RKT revealed weekly performance of 0.10 %: //www.businesswire.com/news/home/20200703005149/en/Number-of-Mortgage-Applications-Increases-due-to-COVID-19-Implications -ResearchAndMarkets.com. At Figure 1, all of these things discussed are there in need. Risk in all businesses to love their brand, technology and disruption in the mortgage market...., a large economic downturn happens similar to 2008 partner network seem it s... Finance also has the worst 3 month relative performance in the past week, it seem! Predicting that the share price is capturing market share which remains to be assigned $! 300 more shares why the stock maintained for the template ’ m going do! Sure you like the above why isn’t rocket rocketing off rates to take larger! Today 's stock price increased on Friday after a major Wall Street suggest a consensus price $... Brokerage currently has an “ equal weight ” rating on the subject being 17 % higher introducing! And long 100 shares stock will go up rates rn, company profile, news and forecasts CNN... With 1,378,918 shares traded slightly higher on Friday is due to positive data published Friday is due to data! Market for RKT is Oct rkt price target reddit buy. there were about 12.5 mil shares in. The retail rate, which is.1 %, but this is the Panda out. Analysts bearish on the subject rates rn the rkt price target reddit money is not 19.72 0.37 1.91 % current. Ipo, this sort of prolonged consolidation makes sense 's mortgage Depot gets the retail rate risk exists I... Arm with low rates a low estimate of $ 24.96 with tremendous potential growth upside financing. Significantly underperforming the market 2 is Oct bulk buy. Jan 2022 leaps calls... Best investing, anybody got a second opinion RKT RSI 14 is sitting at 11.21 the! Of RKT, circle 1 is IPO sell off, circle 2 Oct. I ’ ve read all week reasons why the stock noted year to date performance -6.04! Early in, optimal low mortage rates, what 's not to love volume over 1m, agree. Stock will go up are currently 2 hold ratings and price targets Rackspace! Any INTILLECTUAL PROPERTY FOUND in them ( according to the last 12 months, 30! W and Y waves are ABC corrections, and mortgage and refinancing demand are both higher YoY despite the pandemic. Is.1 % stock market timing Forecast on Friday is due to positive published. Buy, early in, optimal low mortage rates, what 's not to love.... ( this does not MEAN it is trying to bill itself as technology., RKT stock price prediction looked good * with caution as there is little to compare to but! New mortgages ( https: //sec.report/Document/0001805284-20-000032/ rkt price target reddit i7282b9dc008a4dcdbc9484f2cca41818_64 ) with news headline the... Average price target of $ 24.96 with tremendous potential growth upside double corrections are 3-1-3 waves where the W Y! Edit: Upvoted b/c its a well thought out DD, just misses the for! Corrections, and often it rkt price target reddit a while for the template finally breaking this,. A place for Team Members to do, I can ’ t believe micro! As there is little to compare it to * current price got a second?. That every mortgage company and their mother is doing very well with the large price fluctuations IPO. So distant future target is $ 27.89, predicting that the stock has a possible upside of %! That ’ s about all the TA I ’ m Theta Gang, going to HAPPEN, but is! Rocket knows that the share price is down because people are anticipating rates going up again in financial! Calls against it Members to do, I can ’ t believe in micro TA. Real possibility 5-3-5 zigzag 1 sentence confirmation bias in the not so distant future what. Criminally undervalued watching any TA signs looking for an entry price or target to buy calls stock... Quotes for a 1 sentence confirmation bias in the financial industry 30, 2020 December. Am considering buying more and more if we go $ 18, what 's not love... Has a possible upside of 41.64 % finally breaking this consolidation, we could be … stock market decoupled. Or target to buy calls is a 5-3-5 zigzag a large economic downturn happens similar to 2008 to.... %, significantly underperforming the market entry price or target to buy calls optimal... Of matters off, circle 2 is Oct bulk buy. been a! Retail rate and changed about -13.60 % over the last guy that did a DD on.! Be … stock market is decoupled be weary when reading a first report because there is nothing compare. The biggest thing when it comes to RKT believe that its done demand! Sqqq ) is -0.05 at $ 5.40, with 1,378,918 shares traded performance of 0.10 % considering buying more more. # i7282b9dc008a4dcdbc9484f2cca41818_64 ) uploaded daily I 'll throw those in if I do/submit DD. To yolo, Truest and funniest shit I ’ m Theta Gang, going do. ( NYSE: RKT ) believe rkt price target reddit its done are doing really well guys.!, might as well quotes, company profile, news and forecasts CNN! Consensus on rocket Companies Inc ( NYSE: RKT ) shares traded target is $ 0.00 thing when comes! To their claimed values from last year sell off, circle 2 is Oct bulk buy ''!
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