rkt price target reddit

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 isn’t 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 , 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 … In November, the YoY increase in mortgage need is 16%, despite the COVID pandemic. Any thought on RKT. Rocket operates primarily through 2 segments; direct to consumer and partner network. It was a point that I encountered constantly while writing this. Any thought on RKT. (THIS DOES NOT MEAN IT IS GOING TO HAPPEN, IT MEANS IT COULD HAPPEN. 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. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Cookies help us deliver our Services. If that's the case though technically if they start doing worse the stock will go up. The stock noted year to date performance at -6.04% and changed about -13.60% over the last three months. RKT is involved in very heavily competed spheres. Stock Price Target RKT High $ 35.00 Median $ 24.00 Low $ 19.00 Average $ 24.70 Current Price $ 19.95 Advertisement Related Links: Options Overview Research & … Sorry broski - explained this to the last guy that did a DD on RKT. Their average twelve-month price target is $27.89, predicting that the stock has a possible upside of 41.64%. Barron's also provides information on historical stock ratings, target prices, … 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. rkt stock forecast, 15 Wall Street analysts have issued ratings and price targets for Rocket Companies in the last 12 months. If we are finally breaking this consolidation, we could be … This is in effect for 2 years. 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. Somehow, in the past week, it has seem it’s shares decline by almost 10%, significantly underperforming the market. Mortgages, we all need them. They have more opportunity to take a larger share of the pie than their competition and have lower costs. 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. 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. This looks more like a WXY double correction. But then again Danny G is a billionaire so probably doesn't need their fuckin money anyways. Banks are tightening standards, in many cases taking the IOER rate, which is .1%. (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. Somehow, in the past week, it has seem it’s shares decline by almost 10%, significantly underperforming the market. Look at Figure 1, all of these things discussed are there. ), Transitioning from the 10Q to the market. 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. So is every other financing arm with low rates rn. 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 is categorized as mortgage finance industry. There are currently 2 hold ratings and 47 buy ratings for the stock, resulting in a consensus rating of "Buy." - Risk is there: credit risk, economic downturn, people stop wanting to buy houses are the three big ones I’m concerned with. Thanks, good points, stock market is decoupled. I think the risk to RKT is that they are making loans when the smart money is not. 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. 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. ALL ARTICLES USED WERE LISTED AND I DO NOT TAKE CREDIT FOR ANY INTILLECTUAL PROPERTY FOUND IN THEM. Figure 1: 3 month chart of RKT, circle 1 is IPO sell off, circle 2 is Oct bulk buy. 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. 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. My peer group (23-27 years old) is in the “house buying age” and the people I know are split pretty down the middle. Mortgage refinancing YoY is 67% higher, introducing a huge market for RKT. View RKT's stock price, price target, earnings, forecast, insider trades, and news at MarketBeat. The article continues to say that “Low rates are no longer offsetting these [mortgage] higher prices; in fact they are partially causing them.”. 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… If you can't find the pretiming analysis of the latest date or not exist Please sign up RKT RSI 14 is sitting at 11.21 at the time of writing, indicating a supremely oversold stock. 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. ProShares UltraPro Short QQQ ( SQQQ ) is -0.05 at $5.40, with 1,378,918 shares traded. Positions: short (3) 12/18 $20.00 puts and long 100 shares. Finally, people stop wanting to buy houses. I think RKT is going to go up. RSI is bottom orange line, very low at time of writing. Well done DD ... completely agree. Discussion. Analysts on Wall Street suggest a consensus price target of $24.96 with tremendous potential growth upside. Get information including stock price today, stock price target, Technical analysis, Bearish-Bullish Trend, stock chart. 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.

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