Rocket Lab USA (RKLB, Financial) reached its highest level at $27.5 per share on November 29, 2024 after recorded a single-day gain of 8.3%. This reflects an impressive 398% year to date return, fueled by increased investor risk appetite and a vibrant market environment. Currently, the company has a market capitalization of $13.5 billion, with expected annual revenue growth of 77%.
Some financial highlights include the third quarter of 2024 revenues of $105 million, 55% more than a year earlier. So, in Q4, Rocket Lab's projected revenues are $125-$135 million and gross margins of 26-28%. Further, expanding the company's growth narrative, the company has been awarded a $23.9 million grant following the recent signing of the CHIPS Act to advance to increase semiconductor production in Albuquerque, New Mexico.
The aerospace businesses also started their growth with this company. Its Neutron rocket went through the qualification process and secured the first commercial order. This is well aligned with Rocket Lab's current Electron rocket, which will be instrumental in this firm. Wall Street has paid attention, adjusting price targets for the Company BofA Securities, Cantor Fitzgerald, and TD Cowen to show a hopeful forward for Rocket Lab.
Rocket Lab's progress includes building and launching the Neutron rocket while achieving notable milestones. The company has accomplished two launches in under 24 hours and secured a multi-launch deal for its Neutron lander. It has achieved these milestones by demonstrating its position as a responsive space solutions provider and a comprehensive aerospace solutions and services company.​
