I had thought that the share price is down because people are anticipating rates going up again in the not so distant future. Target: A place for Team Members to do stuff that kind of matters. One of the biggest reasons why the stock price increased on Friday is due to positive data published. Fixed RSI to RSI 14 in body to eliminate confusion. These are the details. Rocket Companies Inc (NYSE: RKT) shares traded slightly higher on Friday after a major Wall Street firm upgraded the stock. That’s about all the TA I’m going to do, I don’t believe in micro level TA. Pump and dumps are incredibly common on stocks during IPO, and often it takes a while for the stock to stabilize. By using our Services or clicking I agree, you agree to our use of cookies. I'm a biased bull but fully appreciate the devil's advocate so thanks. RKT | Complete Rocket Cos. Inc. stock news by MarketWatch. Price target $45 by December 31, 2021 (I’m Theta Gang, going to wheel). It is trying to bill itself as a technology company. Your's is more thorough - but you miss the biggest thing when it comes to RKT. 5 months ago Rocket Companies Inc (NYSE: RKT) shares initially spiked from the $18 IPO price … 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. This represents a … 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. Any thoughts. View real-time stock prices and stock quotes for a full financial overview. 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). The Analyst: JPMorgan … The partner network uses the “Rocket Pro” platform to support clients with a “superior” experience, taking advantage of modern technology to make complex lending problems simple (for people who require a large number of mortgages and the management of those mortgages). This is my first DD, thanks to u/its_logan75 for the template. All the numbers were absolutely astonishing. Competition of course makes sense though, EXACTLY! Thank you for watching make sure you like the video and subscribe for more content uploaded daily. The average price target is $ 0.00 with a high estimate of $ 0.00 and a low estimate of $ 0.00 . This creates opportunity IMO. Analysts on Wall Street suggest a consensus price target of $24.96 with tremendous potential growth upside. 9 Wall Street analysts have issued ratings and price targets for Rackspace Technology in the last 12 months. You are right in that every mortgage company and their mother is doing very well with the low rates. Curious what Next, a large economic downturn happens similar to 2008. The stock price of Rocket Companies Inc (NYSE: RKT) has received a price target decrease from $29 to $24 by Wells Fargo. The percentage of analysts bullish on the stock of … Edit: Upvoted b/c its a well thought out DD, just misses the forest for the trees 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. Cookies help us deliver our Services. I picked up a few calls today strike $20 for 3/19 for earnings play. 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 10Q USED (https://sec.report/Document/0001805284-20-000032/#i7282b9dc008a4dcdbc9484f2cca41818_64). Competition. Now what The current projected Rocket Companies target price … Currently up 20%. Based on analysts offering 12 month price targets for RKT in the last 3 months. Analysts on Wall Street suggest a consensus price target of $24.96 with tremendous potential growth upside. Rocket Companies, Inc. This is unpredictable and is a risk in all businesses. while detailed DD (thank you), RSI itself isnt anything useful, oversold is possible because of dimming prospect on the business outlook. Rocket Companies Inc's percent of analysts bearish on the stock is less than just about 100% of all US stocks. RKT does them, but they have recently branched out into other forms of lending to include personal lending and auto sales. The huge initial open market demand comes as … Rocket Companies, Inc. (NYSE: RKT) stock research, profile, news, analyst ratings, key statistics, fundamentals, stock price, charts, earnings, guidance and peers on … How about looking at the stocks PE ratio compared to other financing institutions that are publically traded? If you count by tickers with current volume over 1m, you get RKT & TREE. The stock’s price situated Very bullish, goal is to be assigned below $25 via shortting puts, wheel to price target of $45 dollars by December 31, 2021. Positions: short (3) 12/18 $20.00 puts and long 100 shares. Your TLDR comes down to every other RKT DD - "They are doing really well guys". Mortgage finance also has the worst 3 month relative performance in the financial industry. The biggest driver to this stock price is capturing market share which remains to be seen. The stock maintained for the month at -5.16%. With news headline like the above why isnât rocket rocketing off? 7:13p Week’s Best: Promotions at Morgan Stanley 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. 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. - 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. 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. By using our Services, you agree to our use of cookies.Learn More. I'm long $50k in Jan 2022 leaps selling calls against it. Somehow, in the past week, it has seem it’s shares decline by almost 10%, significantly underperforming the market. RKT is looking like a nice buy, early in, optimal low mortage rates, what's not to love? This risk exists, I can’t predict what will happen, but this is the Panda thinking out loud. - 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.) 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. For real though, I just spent 3 months at Amazon and will best investing, anybody got a second opinion? (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. 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.) Wells Fargo & Company‘s target price indicates a potential upside […] 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. Tree is falling off a cliff. The high price target for AMZN is $4,500.00 and the low price target for AMZN is $2,050.00. The high price target for RKT is $35.00 and the low price target for RKT is $19.00. RKT lends people money, have been expanding their business model, and mortgage and refinancing demand are both higher YoY despite the pandemic. Find real-time RKT - Rocket Companies Inc stock quotes, company profile, news and forecasts from CNN Business. 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 brokerage currently has an “equal weight” rating on the stock. Want to be assigned below $25 on 300 more shares. I used Robinhood, you’re welcome. - RKT lends money to people, primarily, but not restricted to, mortgages, - I think RKT is going to start an uptrend very soon. Read the below statistics in (4) columns: Stat, September 30, 2020: December 31, 2019: % change. 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. 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. RKT released its first quarterly report ending on 30 September 2020. Credit Risk is what RKT is concerned with (according to the 10Q). Here is my very brief 2 cents on the subject. RKT revealed weekly performance of 0.10%. Here’s where things get juicy, from 1-5 Oct there were about 12.5 mil shares purchased in bulk. Looking at PE and it’a EPS... shows it’s severely undervalued at this current price. DISCLAIMERS: I AM NOT A FINANCIAL ADVISER, DO YOUR OWN DD. View today's stock price, news and analysis for Rocket Cos. Inc. (RKT). I am considering buying more and more if we go $18. RKT mitigates this by selling around 70% of their mortgages while only managing about 30%, with an average hold time of about 18 days. Any thought on RKT. 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. Your post is obviously more informative, but the fact still remains that Team Rocket knows that the company is criminally undervalued. I'll throw those in if I do/submit another DD to this thread. Which, based on the market, is a very real possibility. I’ll explain why in the next sections. RKTs balance sheet looked good *with caution as there is nothing to compare it to*. Stock market timing forecast. If what they put on their balance sheet is true then they’re business is simply exploding. Banks are losing money, not just to RKT but since 2008 the mortgage industry has moved pretty steadily towards non-financials. Press question mark to learn the rest of the keyboard shortcuts. Which other finance arms are you speaking of? RKT's current last sale is 114.22% of the target price of $18. Don't get discouraged just kind of the unwritten rules around here. Want to be assigned below $25 on 300 more shares. The YoY growth was incredible when compared to their claimed values from last year. The stock price of Rocket Companies, Inc. (NYSE: RKT) jumped 8.83% on Friday and it increased over 38% since August 13. Most people are still looking at it like a financing arm. RKT has a higher average analyst price target than 20.09% of stocks in the large market cap category. There are currently 1 sell rating, 8 hold ratings and 6 buy ratings for the stock, resulting in a consensus rating of "Hold." Price target $45 by December 31, 2021 (I’m Theta Gang, going to … 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. 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. Joe Blow's Mortgage Depot gets the retail rate. 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. SO. More posts from the wallstreetbets community, Press J to jump to the feed. One must be weary when reading a first report because there is little to compare to, BUT, might as well. Thanks for the advice, will begin to include. RKT has been undergoing a consolidation and I believe that its done. 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%. Difference in RKT is their brand, technology and disruption in the mortgage market space. Any thoughts? The previous count was invalidated when wave 2 retraced beyond wave 1. Is anyone else watching any TA signs looking for an entry price or target to buy calls? Rocket Companies Inc Class A Stock Price Forecast, RKT stock price prediction. These are the details. Finally, opinion time, COVID-19 validated RKT main business model by proving that real estate buying and selling can be accomplished almost entirely online. 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. 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. Looking for a 1 sentence confirmation bias in the comments to yolo, Truest and funniest shit I’ve read all week. With the large price fluctuations after IPO, this sort of prolonged consolidation makes sense. Rocket Companies Inc
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