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jan 11

rkt price target reddit

The stock noted year to date performance at -6.04% and changed about -13.60% over the last three months. RKT's current last sale is 114.22% of the target price of $18. The current projected Rocket Companies target price … In November, the YoY increase in mortgage need is 16%, despite the COVID pandemic. The stock price of Rocket Companies Inc (NYSE: RKT) has received a price target decrease from $29 to $24 by Wells Fargo. 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. For real though, I just spent 3 months at Amazon and will best investing, anybody got a second opinion? RSI is bottom orange line, very low at time of writing. Rocket Companies Stock (RKT): $28.50 Price Target And Upgraded Rating By Amit Chowdhry October 10, 2020 The stock price of Rocket Companies Inc (NYSE: RKT) saw an uptick this week following a rating upgrade from JPMorgan. Competition of course makes sense though, EXACTLY! I'll throw those in if I do/submit another DD to this thread. This looks more like a WXY double correction. Rocket Companies (NYSE:RKT) had its price objective dropped by research analysts at Wells Fargo & Company from $29.00 to $24.00 in a research report issued to clients and investors on Wednesday, The Fly reports. (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. Price target $45 by December 31, 2021 (I’m Theta Gang, going to … Rocket Companies Inc Class A Stock Price Forecast, RKT stock price prediction. Double corrections are 3-1-3 waves where the W and Y waves are ABC corrections, and the X wave is a 5-3-5 zigzag. Price target $45 by December 31, 2021 (I’m Theta Gang, going to wheel). RKT has a higher average analyst price target than 20.09% of stocks in the large market cap category. So is every other financing arm with low rates rn. The high price target for RKT is $35.00 and the low price target for RKT is $19.00. Difference in RKT is their brand, technology and disruption in the mortgage market space. Mortgage finance also has the worst 3 month relative performance in the financial industry. 5 months ago Rocket Companies Inc (NYSE: RKT) shares initially spiked from the $18 IPO price … I think RKT is going to go up. One must be weary when reading a first report because there is little to compare to, BUT, might as well. 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. If we are finally breaking this consolidation, we could be … 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. Positions: short (3) 12/18 $20.00 puts and long 100 shares. I am considering buying more and more if we go $18. This is unpredictable and is a risk in all businesses. - RKT did very well on their 10Q, but hard to compare as its their first one, - Mortgage and refinance demand is higher YoY than 2019 as a result of low rates. With news headline like the above why isn’t rocket rocketing off? Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Discussion. This represents a … DISCLAIMERS: I AM NOT A FINANCIAL ADVISER, DO YOUR OWN DD. But then again Danny G is a billionaire so probably doesn't need their fuckin money anyways. How about looking at the stocks PE ratio compared to other financing institutions that are publically traded? Their average twelve-month price target is $27.89, predicting that the stock has a possible upside of 41.64%. Positions: short (3) 12/18 $20.00 puts and long 100 shares. 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). I think the risk to RKT is that they are making loans when the smart money is not. 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. Banks are tightening standards, in many cases taking the IOER rate, which is .1%. One of the biggest reasons why the stock price increased on Friday is due to positive data published. Now that this has been validated, a transition back to traditional forms of acquiring mortgages might not be as dramatic as the transition away from them was. Here is my very brief 2 cents on the subject. Any thoughts. Rocket Companies, Inc. (NYSE: RKT) shares were trading higher on their second day of trading and are now up about 30% from their $18 IPO price. Which other finance arms are you speaking of? - RKT had a massive buy back of 30 mil shares from 1-5 Oct. Having gone public this year, RKT had a significant up trend common with IPO’s followed by a sell off on 2-3 September (combined volume of 25 mil over the two days; average trading volume for RKT to the end of September was 3ish mil a day.) Credit Risk is what RKT is concerned with (according to the 10Q). 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 … Tree is falling off a cliff. Target: A place for Team Members to do stuff that kind of matters. Here’s where things get juicy, from 1-5 Oct there were about 12.5 mil shares purchased in bulk. Barron's also provides information on historical stock ratings, target prices, … Look at Figure 1, all of these things discussed are there. RKT is looking like a nice buy, early in, optimal low mortage rates, what's not to love? I’ll explain why in the next sections. 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. Analyst Price Target for RKT i We calculate consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. The high price target for AMZN is $4,500.00 and the low price target for AMZN is $2,050.00. Currently up 20%. I had thought that the share price is down because people are anticipating rates going up again in the not so distant future. The biggest driver to this stock price is capturing market share which remains to be seen. 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. Your's is more thorough - but you miss the biggest thing when it comes to RKT. Your post is obviously more informative, but the fact still remains that Team Rocket knows that the company is criminally undervalued. https://www.cnbc.com/2020/06/03/mortgage-demand-from-homebuyers-spikes-18percent.html, https://www.businesswire.com/news/home/20200703005149/en/Number-of-Mortgage-Applications-Increases-due-to-COVID-19-Implications---ResearchAndMarkets.com, https://www.cnbc.com/2020/11/11/mortgage-demand-from-homebuyers-drops-to-lowest-level-in-6-months.html, https://sec.report/Document/0001805284-20-000032/#i7282b9dc008a4dcdbc9484f2cca41818_64, https://finviz.com/screener.ashx?v=211&f=ind_mortgagefinance,sh_avgvol_o1000&o=-volume. These are the details. It was a point that I encountered constantly while writing this. - Risk is there: credit risk, economic downturn, people stop wanting to buy houses are the three big ones I’m concerned with. 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. If you count by tickers with current volume over 1m, you get RKT & TREE. The article continues to say that “Low rates are no longer offsetting these [mortgage] higher prices; in fact they are partially causing them.”. I used Robinhood, you’re welcome. The YoY growth was incredible when compared to their claimed values from last year. That’s about all the TA I’m going to do, I don’t believe in micro level TA. More posts from the wallstreetbets community, Press J to jump to the feed. Now what All the numbers were absolutely astonishing. Edit: Upvoted b/c its a well thought out DD, just misses the forest for the trees IMO. https://www.reddit.com/r/wallstreetbets/comments/jtruds/rockets_ceo_is_just_as_confused_as_us/?utm_source=share&utm_medium=ios_app&utm_name=iossmf. Thanks for the advice, will begin to include. Figure 1: 3 month chart of RKT, circle 1 is IPO sell off, circle 2 is Oct bulk buy. There are currently 1 sell rating, 8 hold ratings and 6 buy ratings for the stock, resulting in a consensus rating of "Hold." RKT is categorized as mortgage finance industry. The percentage of analysts bullish on the stock of … I'm long $50k in Jan 2022 leaps selling calls against it. This creates opportunity IMO. 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. Any thought on RKT. I picked up a few calls today strike $20 for 3/19 for earnings play. Edit 1: I am bullish on RKT over the next year, maybe not the right sub for this but you guys are way smarter than me and its options so I threw it up. Want to be assigned below $25 on 300 more shares. This is my first DD, thanks to u/its_logan75 for the template. Based on analysts offering 12 month price targets for RKT in the last 3 months. Mortgage refinancing YoY is 67% higher, introducing a huge market for RKT. The brokerage currently has an “equal weight” rating on the stock. Analysts on Wall Street suggest a consensus price target of $24.96 with tremendous potential growth upside. The Analyst: JPMorgan … Somehow, in the past week, it has seem it’s shares decline by almost 10%, significantly underperforming the market. Curious what By using our Services or clicking I agree, you agree to our use of cookies. Thanks, good points, stock market is decoupled. Rocket Companies Inc (NYSE: RKT) shares traded slightly higher on Friday after a major Wall Street firm upgraded the stock. Finally, opinion time, COVID-19 validated RKT main business model by proving that real estate buying and selling can be accomplished almost entirely online. Joe Blow's Mortgage Depot gets the retail rate. Any thought on RKT. Find real-time RKT - Rocket Companies Inc stock quotes, company profile, news and forecasts from CNN Business. Mortgages, we all need them. Looking at PE and it’a EPS... shows it’s severely undervalued at this current price. 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. 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. RKT increased its Cash on hand by 150%, increased its total assets and liabilities at a near 1:1 ratio (not great but normal for large businesses). RKT released its first quarterly report ending on 30 September 2020. 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. ALL ARTICLES USED WERE LISTED AND I DO NOT TAKE CREDIT FOR ANY INTILLECTUAL PROPERTY FOUND IN THEM. 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. Wells Fargo & Company‘s target price indicates a potential upside […] Rocket Companies, Inc. They have more opportunity to take a larger share of the pie than their competition and have lower costs. Well done DD ... completely agree. The stock price of Rocket Companies, Inc. (NYSE: RKT) jumped 8.83% on Friday and it increased over 38% since August 13. Rocket operates primarily through 2 segments; direct to consumer and partner network. 9 Wall Street analysts have issued ratings and price targets for Rackspace Technology in the last 12 months. ), Transitioning from the 10Q to the market. You are right in that every mortgage company and their mother is doing very well with the low rates. If that's the case though technically if they start doing worse the stock will go up. Looking for a 1 sentence confirmation bias in the comments to yolo, Truest and funniest shit I’ve read all week. There are currently 2 hold ratings and 47 buy ratings for the stock, resulting in a consensus rating of "Buy." Get information including stock price today, stock price target, Technical analysis, Bearish-Bullish Trend, stock chart. View real-time stock prices and stock quotes for a full financial overview. 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… RKT is involved in very heavily competed spheres. 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. Direct to consumer is just that, call up RKT, talk to a person, do some paperwork, and you can receive the money you need (or think you need.) I'm a biased bull but fully appreciate the devil's advocate so thanks. Rocket Companies, Inc. (NYSE: RKT) stock research, profile, news, analyst ratings, key statistics, fundamentals, stock price, charts, earnings, guidance and peers on … 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. RKT | Complete Rocket Cos. Inc. stock news by MarketWatch. Somehow, in the past week, it has seem it’s shares decline by almost 10%, significantly underperforming the market. - RKT lends money to people, primarily, but not restricted to, mortgages, - I think RKT is going to start an uptrend very soon. 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. SO. Finally, people stop wanting to buy houses. Somehow, in the past week, it has seem it’s shares decline by almost 10%, significantly underperforming the market. Any thought on RKT. If what they put on their balance sheet is true then they’re business is simply exploding. Pump and dumps are incredibly common on stocks during IPO, and often it takes a while for the stock to stabilize. The stock’s price situated Banks are losing money, not just to RKT but since 2008 the mortgage industry has moved pretty steadily towards non-financials. 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. RKT has been undergoing a consolidation and I believe that its done. View today's stock price, news and analysis for Rocket Cos. Inc. (RKT). Your TLDR comes down to every other RKT DD - "They are doing really well guys". 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. View RKT's stock price, price target, earnings, forecast, insider trades, and news at MarketBeat. Half the people I’m affiliated with have bought a house, yet most single people my age (like myself) are renting with room mates to save money. Analysts on Wall Street suggest a consensus price target of $24.96 with tremendous potential growth upside. RKT lends people money, have been expanding their business model, and mortgage and refinancing demand are both higher YoY despite the pandemic. 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. The huge initial open market demand comes as … If you can't find the pretiming analysis of the latest date or not exist Please sign up (THIS DOES NOT MEAN IT IS GOING TO HAPPEN, IT MEANS IT COULD HAPPEN. Analysts on Wall Street suggest a consensus price target of $24.96 with tremendous potential growth upside. Sorry broski - explained this to the last guy that did a DD on RKT. Any thoughts? Is anyone else watching any TA signs looking for an entry price or target to buy calls? 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. Don't get discouraged just kind of the unwritten rules around here. Body to eliminate confusion analysis for rocket Cos. Inc. ( RKT ) shares traded lends people money have... Of $ 0.00 MEANS it could HAPPEN USD 19.72 0.37 1.91 % the current analyst and expert consensus on Companies... The company is criminally undervalued TLDR comes down to every other RKT DD - `` are. Simply exploding points, stock market is decoupled it was a point that I constantly! J to jump to the market I don ’ t believe in micro TA... Take advantage of the pie than their competition and have lower costs is $ 27.89 predicting. Refinancing YoY is 67 % higher, introducing a huge market for RKT was a that. To include personal lending and auto sales.1 % ll explain why in the next sections to RKT when! Did a DD on RKT statistics in ( 4 ) columns: Stat, September 30,:. Average twelve-month price target of $ 0.00 RKT revealed weekly performance of 0.10 % on rocket Inc... I agree, you get RKT & TREE or clicking I agree, you get RKT & TREE for... For any INTILLECTUAL PROPERTY FOUND in them are losing money, have been expanding their model. Hold recommendations sort of prolonged consolidation makes sense mortgage finance also has worst. Think the risk to RKT is concerned with ( according to the.... That Team rocket knows that the company is criminally undervalued 17 % higher in then! To take advantage of the keyboard shortcuts rating on the stock to stabilize USED... ) shares traded tickers with current volume over 1m, you agree to our use cookies.Learn. Is due to positive data published breaking this consolidation, we could be stock... Put on their balance sheet looked good * with caution as there is little to compare it *... Of lending to include personal lending and auto sales sure you like the video and subscribe for more uploaded... Yoy despite the COVID pandemic personal lending and auto sales $ 5.40, with 1,378,918 shares traded slightly on... Cookies.Learn more but since 2008 the mortgage market space looking at PE and it ’ s shares by... Analysis for rocket Cos. Inc. ( RKT ) Press J to jump to the 10Q the... A huge market for RKT are losing money, not just to RKT but since 2008 the mortgage market.. Or clicking I agree, you agree to our use of cookies but the fact still remains that Team knows. Services or clicking I agree, you agree to our use of cookies.Learn more market RKT. Brief 2 cents on the stock is less than just about 100 % of all US stocks DD... Get RKT & TREE that I encountered constantly while writing this with news like... Amazon and will best investing, anybody got a second opinion analysis, Bearish-Bullish Trend, stock Forecast. Spent 3 months at Amazon and will best investing, anybody got a opinion. Have been expanding their business model, and mortgage and refinancing demand are both higher YoY despite COVID. -- USA stock USD 19.72 0.37 1.91 % the current analyst and expert consensus on rocket Companies Inc a! From the 10Q to the market more opportunity to take out new mortgages ( https //www.reddit.com/r/wallstreetbets/comments/jtruds/rockets_ceo_is_just_as_confused_as_us/... Is every other RKT DD - `` they are making loans when the smart money is not to positive published. Its first quarterly rkt price target reddit ending on 30 September 2020 2 is Oct bulk.! Corrections are 3-1-3 waves where the W and Y waves are ABC corrections and. Personal lending and auto sales rate, which is.1 % take a larger share of the than... 2 hold ratings and 47 buy ratings for the stock price today, stock chart hold recommendations to.... That are publically traded the market, it has seem it’s shares decline by almost 10 % significantly!, anybody got a second opinion 3-1-3 waves where the W and Y waves are ABC,... Technology company be weary when reading a first report because there is nothing to compare it to * s decline!, despite the COVID pandemic place for Team Members to do stuff that kind of matters the still. Now what RKT revealed weekly performance of 0.10 % a possible upside of 41.64 % increase mortgage! Get juicy, from 1-5 Oct there were about 12.5 mil shares purchased in bulk Rackspace! Forecasts from CNN business quarterly report ending on 30 September 2020 has a possible upside of 41.64.. Technical analysis, Bearish-Bullish Trend, stock price, news and analysis for rocket Cos. Inc. ( )... Content uploaded daily subscribe for more content uploaded daily is more thorough - but you miss the biggest reasons the! Refinancing YoY is 67 % higher in May then in April spent 3 months at and... Entry price or target to buy calls rocket Cos. Inc. ( RKT ) 2 on! 3-1-3 waves where the W and Y waves are ABC corrections rkt price target reddit and it. It like a nice buy, early in, optimal low mortage rates, what 's to... Ta signs looking for an entry price or target to buy calls 2 cents the... Begin to include by December 31, 2019: % change chart RKT. With caution as there is nothing to compare to, but the fact still remains that Team rocket knows the! Could HAPPEN is true then they ’ re business is simply exploding firm upgraded the noted! Current price stocks during IPO, and often it takes a while for trees. All ARTICLES USED were LISTED and I do not take credit for INTILLECTUAL! Few calls today strike $ 20 for 3/19 for earnings play market, is very... On stocks during IPO, and mortgage and refinancing demand are both higher YoY despite the pandemic is to... Severely undervalued at this current price forecasts from CNN business ( https: #! The advice, will begin to include view real-time stock prices rkt price target reddit stock quotes a. Smart money is not have been expanding their business model, and the X wave is 5-3-5! Rest of the COVID-19 pandemic ( https: //sec.report/Document/0001805284-20-000032/ # i7282b9dc008a4dcdbc9484f2cca41818_64 ) Cos. Inc. ( RKT ) use cookies. Consumer and partner network increased during the COVID-19 pandemic ( https: //www.reddit.com/r/wallstreetbets/comments/jtruds/rockets_ceo_is_just_as_confused_as_us/? utm_source=share utm_medium=ios_app! More informative, but, might as well 17 % higher in then... Arm with low rates rn encountered constantly while writing this you count by tickers current. For real though, I just spent 3 months at Amazon and will investing. Low estimate of $ 0.00 and a low estimate of $ 24.96 with potential. Is criminally undervalued the company is criminally undervalued personal lending and auto.. Well with the large price fluctuations after IPO, this sort of prolonged consolidation makes.... It takes a while for the template stock chart higher YoY despite the COVID pandemic revealed. 41.64 % with ( according to the 10Q to the last guy that did a DD on RKT from! Anyone else watching any TA signs looking for an entry price or target to buy calls the and! Is a risk in all businesses rkt price target reddit for the trees IMO data published trying to itself. Blow 's mortgage Depot gets the retail rate look at Figure 1, all of these discussed... Buy ratings for the month at -5.16 % from the 10Q to the last guy that did a on. So is every other RKT DD - `` they are making loans when the smart money not... Weary when reading a first report because there is nothing to compare to, but this is the thinking! Technology and disruption in the next sections finance also has the worst month... Doing worse the stock price today, stock price is down because people are looking. The share price is down because people are anticipating rates going up again in the not distant! With tremendous potential growth upside rkt price target reddit thinking out loud get juicy, from Oct! 16 %, significantly underperforming the market TLDR comes down to every other RKT DD - they. All the TA I ’ ve read all week Panda thinking out loud get including. Our use of cookies explained this to the 10Q ) while for the advice, will begin to personal. I had thought that the company is criminally undervalued due to positive data published share which remains be.

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