Rocket Companies Stock Fair Value Calculation – Rocket Cos. Stock Soars on Friday, Outperforms Market
December 6, 2023
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On Friday, Rocket ($NYSE:RKT) Cos. Inc. stock soared to new heights, easily outperforming the market. The Detroit-based company, formerly known as Quicken Loans, Inc., is a leading provider of financial services delivered through technology. It operates in consumer finance and real estate markets, providing mortgage origination and servicing, home loan refinancing, home equity loans and lines of credit, car loans, and more. Inc. is an innovative company that focuses on making it easier for customers to gain access to financial services. The company has grown exponentially over the last year, as more people have turned to technology to access the services they need in today’s world.
Inc. gained more than 6%, easily outperforming the broader market. This surge was largely driven by a strong quarterly report that showed strong demand for the company’s services and further evidence of its long-term growth potential. These results demonstrate why investors are so bullish on Rocket Cos. Inc., and further demonstrate why it is one of the hottest stocks on the market.
Share Price
On Friday, ROCKET COMPANIES (RKT) stock soared to impressive heights, outperforming the market and closing up 5.7% from its prior closing price of $9.3. At the open of trading, RKT stock opened at $9.3 but closed at $9.9, indicating a strong surge of investor confidence. This upward momentum of RKT stock highlighted the company’s positive performance amidst the ongoing market volatility. Overall, the successful performance of RKT on this day was a promising sign of the company’s future success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Rocket Companies. More…
| Total Revenues | Net Income | Net Margin |
| – | -22.51 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Rocket Companies. More…
| Operations | Investing | Financing |
| 10.82k | 578.74 | -12.82k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Rocket Companies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 20.65k | 12.14k | – |
Key Ratios Snapshot
Some of the financial key ratios for Rocket Companies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.5% | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis – Rocket Companies Stock Fair Value Calculation
At GoodWhale, we conducted an analysis of ROCKET COMPANIES‘s financials and came up with a fair value of around $11.5 for its share, as determined by our proprietary Valuation Line. Taking this into consideration, we believe that the current market price of $9.9 per share is currently undervalued by around 13.7%. This presents an opportunity for investors who are looking for an undervalued stock to invest in. More…
Peers
Its competitors include Ocwen Financial Corp, Federal National Mortgage Association Fannie Mae, Home Capital Group Inc.
– Ocwen Financial Corp ($NYSE:OCN)
Ocwen Financial Corporation is a financial services holding company that, through its subsidiaries, originates and services loans. The Company’s segments include Servicing, Lending, Real Estate Owned (REO), Investment Management and Corporate.
– Federal National Mortgage Association Fannie Mae ($OTCPK:FNMA)
As of 2022, Fannie Mae has a market cap of 584.66M. The company is a government-sponsored enterprise that provides financial products and services to homeowners and renters. Its products include single-family and multifamily mortgages, home equity loans, and lines of credit. Fannie Mae was founded in 1938 and is headquartered in Washington, D.C.
– Home Capital Group Inc ($TSX:HCG)
As of 2022, Home Capital Group Inc has a market cap of 982.97M. The company is a provider of alternative residential mortgage solutions in Canada. Home Capital offers residential mortgage products, including first and second mortgages, home equity lines of credit, and lines of credit. The company was founded in 1954 and is headquartered in Toronto, Canada.
Summary
Rocket Companies has seen a strong stock performance on Friday, outperforming the overall market. The stock price rose significantly on the same day, which is indicative of investor confidence in the company. Analysts believe that the company is well-positioned to benefit from the current macroeconomic environment.
Additionally, the company has a solid balance sheet with few debt obligations and a diversified portfolio of products and services. Overall, with strong fundamentals and an attractive stock price, Rocket Companies looks like a good long-term investment.
