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Rocket Lab USA Inc. NASDAQ: RKLB is one of the small-cap aerospace stocks to watch in the emerging space industry. Like many small-cap stocks, strong price movement in either direction is common.
Rocket Lab grew rapidly in the first quarter, but it faces stiff competition from SpaceX, which is undercutting its prices on small rocket launches. Morgan Stanley analyst Kristine Liwag thinks Rocket Lab stock could hit $8 a share within a year.
Rocket Lab reported 69% sales growth in Q1, and says it could grow 77% in Q2. Citigroup rates the stock a buy, but lowered its price target slightly in response to a slight sales miss.
Rocket Lab USA, Inc. (NASDAQ:RKLB ) Q1 2024 Earnings Conference Call May 6, 2024 5:00 PM ET Company Participants Murielle Baker - Communications Manager Peter Beck - Founder & CEO Adam Spice - CFO Conference Call Participants Erik Rasmussen - Stifel Andres Sheppard - Cantor Fitzgerald Jason Gursky - Citi Matt Akers - Wells Fargo Michael Leshock - KeyBanc Capital Markets Suji Desilva - ROTH MKM Cai von Rumohr - TD Cowen Edison Yu - Deutsche Bank Operator Good day, everyone, and welcome to the Rocket Lab's First Quarter 2024 Financial Results Update and Conference Call. At this time, I would like to hand the call over to Murielle Baker, Communications Manager at Rocket Lab.
Rocket Lab has a backlog of $1.04 billion, primarily driven by a contract from the Space Development Agency, with $400 million expected to be recognized as revenue in 2024. RKLB recently won a contract from the U.S. Space Force for a mission that could lead to additional projects with the agency. Despite some skepticism, the company has claimed that Neutron is on track and on budget.
Rocket Lab USA, Inc. (RKLB) closed at $3.80 in the latest trading session, marking a +0.8% move from the prior day.
Hot on the heels of the $515 million Space Force contract it won in December, Rocket Lab just landed another Space Force deal. Valued at $32 million, this one isn't as big.
SpaceX launched 98 rockets in 2023, and plans to grow that number by 47% in 2024. Rocket Lab plans to grow its nine-launch record by 77% this year.
In the most recent trading session, Rocket Lab USA, Inc. (RKLB) closed at $3.56, indicating a +0.85% shift from the previous trading day.
Rocket Lab just won a Space Force launch contract priced at $14.5 million, or twice the cost of its usual commercial launches. Additionally, Rocket Lab confirmed plans to deploy its first-ever reused rocket.