#6 - Rocket Companies, Inc. (NYSE:RKT)
I’ll admit that Rocket Companies, Inc. (NYSE:RKT) could be listed as a sneaky buy. Strictly from a technical standpoint, RKT stock is butting up against its 200-day simple moving average. And if it can push past that there could be some upside ahead.
Your belief in that happening will depend largely on where you feel the economy is at. If we’re close to the bottom, then bulls would argue that the worst is priced into the stock. That may be the sentiment of company insiders who have been buying the stock in the last month.
There’s an increasingly loud chorus, however, that is suggesting the worst may be yet to come. If that’s true. then the housing market is not likely pick up at a rate that would suggest a significant rise in revenue and earnings for Rocket Companies.
Rocket Companies debuted in 2020 at a time that was such a historical outlier for the mortgage industry that it’s hard to forecast what the stock will look like in a more traditional housing boom. That’s reason enough to stay away from RKT stock.
About Rocket Companies
Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company's solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.
Read More - Current Price
- $13.74
- Consensus Rating
- Reduce
- Ratings Breakdown
- 0 Buy Ratings, 7 Hold Ratings, 5 Sell Ratings.
- Consensus Price Target
- $15.13 (10.1% Upside)
