BofA Securities analyst Mihir Bhatia upgrades $Rocket (RKT.US)$ to a hold rating, and maintains the target price at $15.
According to TipRanks data, the analyst has a success rate of 66.9% and a total average return of 9.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Rocket (RKT.US)$'s main analysts recently are as follows:
The assessment of Rocket Companies' performance was mixed, with a 'decent' third-quarter performance juxtaposed against a 'somewhat disappointing' outlook for the fourth quarter. In light of changing rate expectations following the election and the potential for a sustained higher rate environment, it is posited that a recovery in volume may be protracted. There is a concern that projections for the year 2025 might face downward revisions.
Rocket Companies' Q3 adjusted earnings fell short of expectations, impacted by diminished margins and volumes. Additionally, the company's revenue guidance for Q4 is projected to be 15% below the current consensus estimates at the midpoint.
Rocket Companies' Q3 results surpassed expectations in terms of adjusted revenue and EBITDA, with the company experiencing a 28% year-over-year increase in origination volume despite a volatile environment for originations.
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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