Barclays Upgrades Rocket Companies on Mortgage Volume Expectations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 days ago
0mins
Should l Buy RKT?
Source: seekingalpha
Rocket Companies Inc. shares rose by 5.03% as it crossed above the 5-day SMA, reflecting positive market sentiment. Barclays upgraded Rocket Companies from Equal Weight to Overweight, citing an expected overall mortgage volume increase of approximately 8.9% year-over-year, indicating potential market recovery. This upgrade is based on the company's balanced business mix and stability throughout the interest rate cycle, suggesting that Rocket may be undervalued in the current market environment.
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Analyst Views on RKT
Wall Street analysts forecast RKT stock price to rise
11 Analyst Rating
5 Buy
6 Hold
0 Sell
Moderate Buy
Current: 15.020
Low
18.00
Averages
22.18
High
25.00
Current: 15.020
Low
18.00
Averages
22.18
High
25.00
About RKT
Rocket Companies, Inc. is a fintech platform including mortgage, real estate and personal finance businesses: Rocket Mortgage, Redfin, Mr. Cooper, Rocket Homes, Rocket Close, Rocket Money, and Rocket Loans. The Company's full suite of products empowers its clients across financial wellness, personal loans, home search, mortgage finance, title and closing. Through these businesses, it delivers client solutions leveraging its Rocket platform. It operates in two segments: Direct to Consumer and Partner Network. In the Direct to Consumer segment, clients have the ability to interact with Rocket Mortgage digitally and/or with the Company's mortgage bankers. It provides client service and leverages its brand to strengthen its wholesale relationships, through Rocket Pro, as well as enterprise partnerships, both driving growth in its Partner Network segment. The Company's capabilities span the entirety of homeownership, such as home search, financing, title, closing and servicing.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Social Barriers Analysis: The survey indicates that 41% of respondents find knocking on a neighbor's door too bold, and 22% feel awkward initiating contact, which hinders relationship building despite 68% reporting neighborly support in the past year.
- Decline of Traditional Social Spaces: Approximately 42% of Americans feel neighbors tend to keep to themselves, and 81% value opportunities for social interaction outside home and work; however, the decline of traditional gathering spots like restaurants and parks complicates connection efforts.
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