Barclays analyst Terry Ma maintains $Rocket (RKT.US)$ with a sell rating, and adjusts the target price from $10 to $14.
According to TipRanks data, the analyst has a success rate of 53.2% and a total average return of 1.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Rocket (RKT.US)$'s main analysts recently are as follows:
The firm's outlook on Rocket Companies has become 'incrementally more positive' as a result of the 30-year mortgage rate falling 74 basis points since the second quarter, leading to a 90% year-over-year surge in refinance applications. The preference for balanced business models remains, however, reflecting the recent dynamics in the mortgage finance sector.
Consumer finance stocks have exceeded expectations, with an average total return of 18% year-to-date. This performance has largely been attributed to multiple expansion, rather than positive adjustments to earnings forecasts. Within this context, it's suggested that investors should consider taking profits strategically. Despite a seemingly balanced outlook, there's a perception that markets are overly optimistic about 'Base' and 'Bull' case scenarios, while underestimating the probability of 'Bear' case or tail-risk scenarios.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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