Rocket Companies
About: Rocket Companies is a financial services company that was originally founded as Rock Financial in 1985 and is currently based in Detroit. Rocket Companies offers a wide array of services and products but is best known for its Rocket Mortgage business. The company's mortgage lending operations are split between its direct-to-consumer lending, which sees borrowers accessing the company's lending arm directly through either its mobile app or website, and its partner network where mortgage brokers and other firms use Rocket's origination process to offer loans to their customers. The company has rapidly gained market share in recent years and is now the largest mortgage originator in the U.S. as well as the servicer for more than 2 million loans.
Employees: 14,700
0
Funds holding %
of 6,809 funds
0
Analysts bullish %
of 9 analysts
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
129% more call options, than puts
Call options by funds: $169M | Put options by funds: $73.7M
53% more repeat investments, than reductions
Existing positions increased: 98 | Existing positions reduced: 64
46% more capital invested
Capital invested by funds: $1.34B [Q2] → $1.95B (+$613M) [Q3]
33% more first-time investments, than exits
New positions opened: 56 | Existing positions closed: 42
6% more funds holding
Funds holding: 252 [Q2] → 266 (+14) [Q3]
2.33% more ownership
Funds ownership: 70.09% [Q2] → 72.42% (+2.33%) [Q3]
0% more funds holding in top 10
Funds holding in top 10: 2 [Q2] → 2 (+0) [Q3]
Research analyst outlook
9 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$11.50
3%
downside
Avg. target
$14.11
19%
upside
High target
$18
52%
upside
9 analyst ratings
0 positive
0%
4 neutral
44%
5 negative
56%
Morgan Stanley James Faucette 77% 1-year accuracy 20 / 26 met price target | 10%upside $13 | Equal-Weight Maintained | 19 Dec 2024 |
Keefe, Bruyette & Woods Bose George 63% 1-year accuracy 22 / 35 met price target | 3%downside $11.50 | Underperform Downgraded | 10 Dec 2024 |
JP Morgan Richard Shane 61% 1-year accuracy 36 / 59 met price target | 18%upside $14 | Underweight Maintained | 9 Dec 2024 |
B of A Securities Mihir Bhatia 82% 1-year accuracy 9 / 11 met price target | 27%upside $15 | Neutral Upgraded | 15 Nov 2024 |
UBS Douglas Harter 63% 1-year accuracy 17 / 27 met price target | 6%upside $12.50 | Sell Maintained | 14 Nov 2024 |
Financial journalist opinion
Based on 6 articles about RKT published over the past 30 days
Neutral
MarketBeat
5 days ago
Top 3 Stocks for Safe Returns Now and Into Next Year
As the year comes to an end, many issues remain to be solved in 2025, such as potential new trade tariffs, conflicts in the geopolitical arena, and a new United States presidential inauguration. Each of these topics breeds volatility in the stock market, so investors really need to tread carefully in the coming months to avoid falling into potential traps and volatility pockets.
Positive
Benzinga
1 week ago
Three Fintech Winners That Rocked In Q3
For much of this year, global fintech activity has remained strong, largely driven by increased consumer demand and small enterprises side-stepping high-street banking systems amid a high interest rate environment.
Negative
WSJ
2 weeks ago
Rocket Mortgage Sues U.S., Challenges DOJ Discrimination Suit
Rocket Mortgage sued the federal government as part of a challenge to the Justice Department's recent discrimination lawsuit tying Rocket to the conduct of an appraiser it used.
Negative
CNBC Television
2 weeks ago
Rocket Companies' Bill Emerson on DOJ lawsuit: We're being used as poster child to garner headlines
Bill Emerson, Rocket Companies president, joins 'Squawk Box' to discuss the company's lawsuit against the Department of Housing and Urban Department, why the company filed a motion to be dismissed from a DOJ racial discrimination lawsuit, state of the mortgage market, and more.
Neutral
PRNewsWire
2 weeks ago
Rocket Mortgage Sues United States Department of Housing and Urban Development
The company also filed a motion to dismiss the claim the Department of Justice brought against the company DOJ's recent claim against Rocket Mortgage misplaced blame on the Company for work done by an independent appraiser hired by an independent appraisal management company DETROIT , Dec. 5, 2024 /PRNewswire/ -- Rocket Mortgage, the nation's largest mortgage lender and a part of Rocket Companies (NYSE: RKT), filed suit in Federal District Court against the United States Department of Housing and Urban Development (HUD) to correct conflicts between the government's regulations requiring appraiser independence and its enforcement actions seeking to hold lenders liable for the conduct of independent licensed appraisers. Rocket Mortgage also filed a motion to dismiss the claim the DOJ brought against the company based on the same regulatory conflicts and misapplication of applicable law.
Neutral
PRNewsWire
3 weeks ago
Rocket Companies CFO Brian Brown to Present at Goldman Sachs 2024 U.S. Financial Services Conference
DETROIT , Nov. 27, 2024 /PRNewswire/ -- Rocket Companies (NYSE: RKT) ("Rocket Companies" or the "Company"), the Detroit-based fintech platform company including mortgage, real estate and other financial services businesses, today announced that Chief Financial Officer and Treasurer Brian Brown will participate in a fireside chat at the 2024 Goldman Sachs U.S. Financial Services Conference on Tuesday, December 10, at 1:40 p.m. ET. A live webcast of the event will be available on the "Events & Presentations" section of the Company's Investor Relations website at ir.rocketcompanies.com.
Negative
Benzinga
1 month ago
Rocket Companies Analysts Cut Their Forecasts After Q3 Results
Rocket Companies, Inc. RKT reported worse-than-expected third-quarter revenue results, after the closing bell on Tuesday.
Negative
Investopedia
1 month ago
Rocket Companies Stock Sinks as High Mortgage Rates Hurt Results, Outlook
Rocket Companies (RKT) shares tumbled 10% Wednesday, a day after the online financial platform badly missed revenue estimates and gave soft guidance as the housing market continued to be squeezed by high borrowing costs.
Neutral
Zacks Investment Research
1 month ago
Rocket Companies (RKT) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
While the top- and bottom-line numbers for Rocket Companies (RKT) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Neutral
Seeking Alpha
1 month ago
Rocket Companies, Inc. (RKT) Q3 2024 Earnings Call Transcript
Rocket Companies, Inc. (NYSE:RKT ) Q3 2024 Earnings Conference Call November 12, 2024 4:30 PM ET Company Participants Sharon Ng - Head, IR Varun Krishna - CEO Brian Brown - CFO Conference Call Participants Jeff Adelson - Morgan Stanley Ryan Nash - Goldman Sachs Mark DeVries - Deutsche Bank Derek Sommers - Jefferies Doug Harter - UBS Operator Thank you for standing by, and welcome to the Rocket Companies Third Quarter 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise.
Charts implemented using Lightweight Charts™