Is Rocket Lab Corporation (RKLB) Among the Best Space Stocks to Buy According to Reddit and Social Media?
With 45 hedge funds having stakes in the company, Rocket Lab Corporation (NASDAQ:RKLB) is among the 9 Best Space Stocks to Buy According to Reddit and Social Media
On May 8, TD Cowen raised the firm’s price target on Rocket Lab Corporation (NASDAQ:RKLB) to $120 from $90 while maintaining a Buy rating on the shares. On the same day, Rocket Lab surged 25.5%, or $20.03, to $98.61 following strong investor reaction to the company’s results and outlook. Earlier that day, Craig-Hallum Capital Group upgraded Rocket Lab Corporation (NASDAQ:RKLB) to Buy from Hold with a $98 price target after the company delivered a significant earnings beat and issued Q2 guidance well ahead of consensus expectations.
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 noted continued growth in medium-lift launch demand and strong execution within the company’s Space Systems segment, viewing the long-term growth opportunity as highly attractive. Rocket Lab Corporation (NASDAQ:RKLB), founded in 2006 and headquartered in Long Beach, California, is a publicly traded aerospace and space technology company focused on the design, manufacturing, and launch of satellites, spacecraft components, and orbital rockets.