Rocket Lab completes 66th Electron launch, deploys iQPS satellite

MAHIA, New Zealand - Rocket Lab Corporation (NASDAQ:RKLB), whose stock has surged nearly 495% over the past year and commands a market capitalization of $12.54 billion, successfully launched its 66th Electron rocket on Wednesday, deploying a synthetic aperture radar imaging satellite for Institute for Q-shu Pioneers of Space, Inc. (iQPS). According to InvestingPro analysis, the company has demonstrated remarkable revenue growth of 65% in the last twelve months.

The mission, named "The Mountain God Guards," lifted off from Rocket Lab’s Launch Complex 1 in New Zealand at 15:31 UTC, placing the QPS-SAR-11 satellite (nicknamed YAMATSUMI-I) into a 575km circular Earth orbit.

This launch marks Rocket Lab’s second for iQPS in less than a month and its fourth overall for the Japanese company. With this mission, Electron has now deployed half of iQPS’s constellation of Earth-imaging satellites.

"The Electron team has delivered another flawless launch and satellite deployment for iQPS, for the second time in 25 days," said Rocket Lab Founder and CEO, Peter Beck, according to the company’s press release.

iQPS CEO, Dr. Shunsuke Onishi, expressed gratitude for the "smooth deployment" of the satellite, noting the company’s progress toward building its constellation.

The launch represents Rocket Lab’s eighth Electron mission of 2025. According to the company, another four dedicated missions with QPS-SAR satellites are scheduled across the remainder of this year and 2026.

Rocket Lab, headquartered in Long Beach, California, provides launch services, satellite manufacturing, and on-orbit management solutions. Since its first orbital launch in January 2018, the company’s Electron vehicle has become the second most frequently launched U.S. rocket annually, delivering over 200 satellites to orbit.

The company’s next Electron mission is scheduled to launch from the same complex within days, according to the statement.

In other recent news, Rocket Lab USA has been the focus of several analyst updates and strategic developments. Cantor Fitzgerald raised its price target for Rocket Lab to $35, maintaining an Overweight rating, citing confidence in the company’s successful space launch track record and strategic positioning. KeyBanc also increased its price target to $29, highlighting the company’s ongoing efforts in vertical integration and recent acquisitions, including Geost. Needham followed suit, raising its price target to $32, viewing the acquisition of Geost as a significant step for Rocket Lab, particularly in enhancing its position in the defense sector.

Stifel reiterated a Buy rating with a $34 price target, emphasizing Rocket Lab’s progress on the Neutron vehicle, which is expected to launch in the second half of 2025. The acquisition of Geost, valued at $275 million, marks Rocket Lab’s entry into the satellite payload sector, aiming to strengthen its capabilities in the space and defense industries. JMP Securities maintained a Market Perform rating, noting the strategic significance of the Geost acquisition for expanding Rocket Lab’s market presence. These developments reflect analysts’ confidence in Rocket Lab’s strategic initiatives and growth prospects within the space economy.

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