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Investing.com - Cantor Fitzgerald raised its price target on Rocket Lab USA (NASDAQ:RKLB) to $72.00 from $54.00 on Monday, maintaining an Overweight rating following the company’s third-quarter performance. Currently trading at $45.54, the stock appears overvalued according to InvestingPro Fair Value metrics, though analyst targets range from $47 to $83.
The space launch provider completed four successful Electron launches during the third quarter, maintaining its 100% mission success rate. Rocket Lab has conducted 16 successful launches year-to-date, matching its total for all of last year, and reaffirmed its target to complete more than 20 launches before year-end. This operational momentum has contributed to the stock’s impressive 139.7% return over the past year, though InvestingPro data shows price movements remain highly volatile with a beta of 2.17.
The company reported third-quarter revenue of approximately $155 million, exceeding analyst expectations, and disclosed a contracted backlog of approximately $1.1 billion. Management expects to recognize about 57% of this backlog as revenue within the next 12 months. Rocket Lab’s revenue growth remains robust at 52.4% over the last twelve months, with analysts anticipating continued sales growth this year despite the company not being expected to achieve profitability.
Rocket Lab announced a slight delay in its Neutron rocket program, with the vehicle now expected to arrive at the launchpad in the first quarter of 2026 rather than launching in the fourth quarter of 2025. The medium-lift Neutron rocket is expected to be priced at approximately $55 million per launch, compared to the smaller Electron’s $9 million. Despite development costs, the company maintains strong liquidity with a current ratio of 3.18, meaning liquid assets exceed short-term obligations by more than three times.
The company’s Space Systems division is progressing with its Space Development Agency (SDA) Tranche 2 contract, moving into full-scale production, with Rocket Lab expecting to recognize 40% of the approximately $515 million contract as revenue in fiscal year 2026. The company is also awaiting a decision on its bid for the SDA Tranche 3 award, valued at $700-900 million, with a contract decision expected in the first quarter of 2026. With a market capitalization of $24.3 billion and trading at a high price-to-book multiple of 19, investors can access comprehensive analysis through InvestingPro’s Research Report, one of 1,400+ deep-dive reports available for top US stocks.
In other recent news, Rocket Lab USA reported its third-quarter financial results, showing revenue of $155.1 million, which was a 48% increase year-over-year and above the consensus estimate of $151.9 million. Despite this revenue growth, the company posted an adjusted EBITDA loss of $26.3 million, which was greater than the expected loss of $22.0 million. Analysts have responded to these developments with various ratings and price targets. Needham raised its price target for Rocket Lab to $63, noting strong revenue growth in both the Space Systems and Launch segments. Roth/MKM also increased its price target to $75, citing stronger margins and a growing backlog. Meanwhile, KeyBanc maintained an Overweight rating, highlighting continued margin strength and top-line growth, despite delays in the Neutron rocket program. Goldman Sachs reiterated a Neutral rating, pointing to Neutron delays as a factor. Citizens maintained a Market Perform rating following the mixed results. These updates reflect the varied perspectives of analysts on Rocket Lab’s recent performance.
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