TLDR
- Rocket Lab stock jumped 46% in the first half of 2026, versus a 10% gain for the S&P 500
- Q1 2026 revenue hit a record $200 million, up 63% year over year, beating analyst estimates of $189.65 million
- The company’s backlog surged 106% year over year to $2.2 billion, with 70 contracted missions on its launch manifest
- Institutional ownership stands at 71.78%, with multiple hedge funds increasing their positions in Q1
- 81% of covering analysts rate RKLB a buy or strong buy, with an average price target of around $111–$117
Rocket Lab (RKLB) stock is trading around $78.32, down from a 52-week high of $151.00 but still up sharply from its 52-week low of $37.57. The stock gained 46% in the first half of 2026, well ahead of the S&P 500’s 10% return over the same period.
The company has posted back-to-back record quarters in 2026. In Q4 2025, revenue climbed 36% year over year to $180 million. Then in Q1 2026, it pushed further, hitting $200.35 million — a 63.4% jump from the same quarter last year and ahead of the $189.65 million analysts had expected.
Earnings per share came in at ($0.07), which matched the consensus estimate. A year ago, the company posted ($0.12) EPS for the same quarter.
Backlog and Launch Activity Paint a Strong Picture
Rocket Lab’s backlog is one of the clearest signals of where the business is heading. It hit $2.2 billion in Q1, up 106% year over year and 20% from Q4 2025. The company now has 70 contracted missions on its launch manifest.
Management said Rocket Lab sold more launches in Q1 alone than it had in all of 2025 combined. That’s a meaningful data point. The company also reported a 100% launch success rate across 21 launches last year.
For Q2 2026, management is guiding for revenue of around $233 million at the midpoint, which would be roughly 61% growth year over year if achieved.
The company’s $8 billion acquisition of Iridium is also part of the picture, positioning Rocket Lab as what it calls an “end-to-end space company.”
Institutional Interest Remains High
On the institutional side, 71.78% of RKLB stock is held by hedge funds and other institutional investors. Several firms added to their positions in Q1. AQR Capital Management increased its stake by 114%, bringing its holdings to 174,308 shares. NewEdge Advisors raised its position by over 1,800%. Katamaran Capital lifted its stake by 86.2%.
Of the 16 analysts covering the stock, 81% rate it a buy or strong buy. None recommend selling. Price targets range from $111.88 on the conservative end to $150 from New Street Research. Citizens JMP raised its target to $130 on June 30, while KeyCorp upgraded the stock to overweight with a $135 target in June.
There has been some insider selling. CEO Peter Beck sold 1,298,622 shares on July 7 at an average price of $84.92, a transaction worth over $110 million. That sale was executed under a pre-arranged Rule 10b5-1 plan. Insiders have sold a combined $362.8 million worth of stock over the past three months.
Rocket Lab’s 50-day moving average sits at $109.12, while its 200-day moving average is $87.32 — both above the current price of $78.32.
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