$RKT

Rocket Companies' (RKT) average stock price target was reduced from $16.08 to $15.92 by 13 analysts, with a range of $12.5 to $21. This implies a 48% upside from the Oct. 16 closing price. The consensus rating remains 'Buy' among 18 analysts, with 10 Buys and 8 Holds.

Rocket Companies Inc. (RKT) stock rose 5.41% amid strong mortgage demand. Analysts cut price targets to $15–$17 but maintained positive ratings. RKT adopted VantageScore 4.0 for loans, aiming for more approvals and better pricing. The company reported $6.26B in annual revenue, with thin margins and negative free cash flow. Housing market data shows a buyer's market, but prices are still rising modestly.

Redfin reports 22% of home sellers cut prices, a record high. Median U.S. home sale price growth slowed to 0.5% YoY. Mortgage rates hit 7.4% on Oct. 8, easing slightly. Pending home sales rose 1.5% week-over-week but remain near record lows. New listings increased 0.4% week-over-week, while total listings rose 0.8%.

US markets opened mixed as hotter-than-expected PPI data raised concerns about further Fed rate hikes. The Dow rose 0.6%, while the S&P 500 and Nasdaq fell 0.3% and 0.9%, respectively. UK's FTSE 100 gained 1.1% after resilient August GDP data. Tech stocks faced pressure, with TSMC down 4% despite strong earnings. Core PPI rose 5% annually, above estimates. Investors eye Fed policy decisions amid persistent inflation.

StoneX reduced its price target for Rocket Cos Inc. (RKT) to $16 from $19, citing rate concerns and a smaller mortgage market. The stock is down 44% year-to-date. StoneX lowered its revenue and EBITDA forecasts for 2026 and 2027. Rocket's Q2 earnings missed expectations, but the company reported gains in market share. Wells Fargo also lowered its price target to $13. RKT trades at $10.38, near its 52-week low.

U.S. September CPI rose 3.7% YoY, above expectations, driving premarket declines in rate-sensitive stocks. Gold miners and mortgage lenders led losses, with gold prices falling 1.1% and Rocket Companies (RKT) down 3.3%. Higher Treasury yields and a stronger dollar contributed to the declines. CoreWeave and Wayfair also fell due to rising borrowing costs and retail pressures.

Redfin reports a 63% surplus of home sellers over buyers in September, the largest gap since 2013. Buyers dropped to the lowest level on record, while sellers hit a high since 2020. 41 of the 50 largest U.S. metros are buyer's markets, led by Miami, Nashville, and Houston. High costs and economic uncertainty are driving the imbalance, giving buyers more negotiating power. Five metros, including San Francisco and NYC suburbs, remain seller's markets.

Rocket Companies (RKT) fell 0.37% to $10.83, hitting a 52-week low due to mortgage demand concerns and high borrowing costs. JPMorgan and Morgan Stanley lowered price targets. Trading volume was 41.1M, 32% above average. The stock is down 40% since its 2020 IPO and 44% year-to-date. Peers UWM Holdings (UWMC) rose 0.98%, while loanDepot (LDI) dropped 4.78%.

Rocket Companies Inc. (RKT) shares fell 4.09% on concerns over mortgage demand and a lawsuit related to its Mr. Cooper acquisition. Wells Fargo cut its price target to $13, citing weaker earnings expectations. RKT's stock is trading near $11, with mixed fundamentals including $2.41B revenue and negative free cash flow. The lawsuit and analyst downgrade add to trading volatility.

Arbor Realty Trust (NYSE:ABR) reported Q2 revenue of $115.9M, down 11.1% YoY but beating estimates. EPS and net interest income also exceeded expectations. Despite strong results, the stock fell 35% to $3.12. Rocket Companies (NYSE:RKT) saw revenue rise 92.9% YoY to $2.76B, missing estimates. EPS met expectations, and the stock dropped 10.9% to $11.79. WaFd Bank (NASDAQ:WAFD) reported $202M in revenue, up 8.4% YoY, beating estimates. EPS was in line, and the stock fell 24% to $29.87.