Rocket Lab Corporation (NASDAQ: RKLB) has attracted stakes from 45 hedge funds, placing it among the top space stocks gaining traction on Reddit and social media platforms.
On May 8, TD Cowen raised its price target on Rocket Lab Corporation (NASDAQ: RKLB) to $120 from $90, while maintaining a Buy rating on the shares.
On the same day, the stock surged 25.5%, or $20.03, to $98.61, following strong investor reaction to the company’s results and outlook.
Also on May 8, Craig-Hallum Capital Group upgraded Rocket Lab from Hold to Buy, assigning a $98 price target after the company delivered a significant earnings beat.
Craig-Hallum’s upgrade followed Rocket Lab issuing second-quarter guidance that came in well ahead of consensus expectations, signaling growing confidence in the company’s near-term trajectory.
The firm highlighted accelerating demand in the hypersonic market, underscored by Rocket Lab’s $190 million Department of Defense award for 20 HASTE missions booked during the quarter.
Craig-Hallum also pointed to continued growth in medium-lift launch demand as a key factor supporting the bullish outlook for the company’s future performance.
Strong execution within Rocket Lab’s Space Systems segment was cited by Craig-Hallum as another reason the firm views the long-term growth opportunity as highly attractive.
Rocket Lab Corporation was founded in 2006 and is headquartered in Long Beach, California, operating as a publicly traded aerospace and space technology company.
The company focuses on the design, manufacturing, and launch of satellites, spacecraft components, and orbital rockets across both commercial and government markets.
