Rocket Lab Stock Jumps After Biggest-Ever Launch Contract Shocks Market – Yahoo Finance
This article first appeared on GuruFocus.
Rocket Lab Corporation (NASDAQ:RKLB) shares soared about 15% on Friday after the space launch company reported stronger-than-expected first-quarter revenue, raised its outlook and announced new commercial and defense contracts.
Rocket Lab reported first-quarter revenue of $200.35 million, topping estimates, while its loss matched expectations, with the company also forecasting second-quarter revenue above Wall Street views and wider EBITDA losses, signaling continued investment in growth. It also maintained a Buy consensus rating with an average price target near $91.20, according to analyst estimates. Rocket Lab said backlog expansion and launch demand supported its outlook.
Rocket Lab said it secured its largest launch contract to date, adding a multi-mission deal spanning Neutron and Electron launches between 2026 and 2029, lifting its backlog above $2.2 billion. The Rocket Lab deal also includes hypersonic test missions with Anduril Industries and participation with RTX’s Raytheon in U.S. Space Force programs.
