Rocket Companies Stock Surpasses Analyst Target: What’s Next?
Shares of Rocket Companies Inc (Symbol: RKT) recently traded above the average analyst 12-month target price of $16.38, selling at $16.68 per share. When a stock reaches its analysts’ target, they have the option to either downgrade their rating based on valuation or increase their target price. Their decision often hinges on the recent developments within the company that impact its stock price.
Currently, there are 12 analyst targets contributing to Rocket Companies Inc.’s average rating tracked by Zacks. Despite this average being a useful gauge, some analysts set lower targets, including one with a goal of $11.00, while another aims for as high as $20.00. The average target has a standard deviation of $2.788, indicating a range of opinions among experts.
The significance of the average RKT price target lies in the collective insights it represents, drawing from numerous analysts rather than relying on a single viewpoint. With RKT now trading above the average target price of $16.38 per share, investors should consider whether this milestone is a precursor to even higher valuations or if it suggests that the stock’s pricing has become overextended. Below is a table summarizing the latest analyst ratings for Rocket Companies Inc:
| Recent RKT Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 0 | 0 | 0 | 0 |
| Buy ratings: | 0 | 0 | 0 | 0 |
| Hold ratings: | 10 | 10 | 10 | 9 |
| Sell ratings: | 1 | 1 | 1 | 2 |
| Strong sell ratings: | 3 | 3 | 3 | 3 |
| Average rating: | 3.5 | 3.5 | 3.5 | 3.57 |
The average rating is on a scale from 1 to 5, where 1 is Strong Buy and 5 is Strong Sell. Data for this article was sourced from Zacks Investment Research via Quandl.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
