Rocket Companies, Inc. engages in the tech-driven real estate, mortgage, and eCommerce businesses in the United States and Canada. It operates in two segments, Direct to Consumer and Partner Network. The company's solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to national car rental and online car purchasing platforms; and Rocket Loans, an online-based personal loans business. Its solutions also include Core Digital Media, a digital social and display advertiser in the mortgage, insurance, and education sectors; Nexsys, a fintech company, which offers a suite of essential tech solutions for mortgage origination and closing processes through digitization and automation; Lendesk, a technology services company that provides a point of sale system for mortgage professionals and a loan origination system for private lenders; and Edison Financial, a digital mortgage startup. In addition, the company originates, closes, sells, and services agency-conforming loans. Rocket Companies, Inc. was founded in in 1985 and is headquartered in Detroit, Michigan. Rocket Companies, Inc. is a subsidiary of Rock Holdings, Inc.
IPO Year: 2020
Exchange: NYSE
Website: rocketcompanies.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
1/16/2024 | $9.00 → $10.00 | Neutral → Sell | Citigroup |
1/10/2024 | Hold | Deutsche Bank | |
1/4/2024 | $8.50 → $10.50 | Neutral → Underweight | JP Morgan |
1/3/2024 | $10.75 | Mkt Perform → Underperform | Keefe Bruyette |
1/3/2024 | $13.00 → $14.00 | Overweight → Equal Weight | Wells Fargo |
12/6/2023 | $8.50 | Sell | UBS |
11/15/2023 | $6.00 | Underweight | Barclays |
8/7/2023 | $11.50 | Underperform → Mkt Perform | Keefe Bruyette |
5/22/2023 | Sell → Hold | Argus | |
1/9/2023 | $7.00 | Neutral → Underperform | Credit Suisse |
Recently, there has been a series of insider purchases at Rocket Companies Inc. by Director Rizik Matthew. On 2024-06-21, Director Rizik Matthew made a purchase of $8,648 worth of shares, acquiring 622 units at a price of $13.90. This transaction increased his direct ownership by 0.09% to 706,108 units, as reported in SEC Form 4. This purchase indicates confidence from an insider in the company's prospects. Building up to this latest purchase, Rizik Matthew had also bought shares in the previous month. On 2024-05-31, he acquired $4,375 worth of shares (317 units at $13.80), increasing his direct ownership by 0.05% to 702,497 units. Following this, he made purchases on 2024-06-05, 2024-06-07
Rizik Matthew, a prominent figure at Rocket Companies Inc., has been steadily increasing his direct ownership in the company through a series of insider purchases over the past couple of months. The most recent purchase, which took place on June 7, 2024, saw Rizik Matthew acquiring $8,630 worth of shares, equivalent to 602 units at $14.34 per share. This transaction resulted in a marginal increase in his direct ownership by 0.09%, bringing his total direct ownership to 703,727 units as reported in the SEC Form 4. When we examine the pattern of Rizik Matthew's insider purchases leading up to the latest transaction, we can observe a consistent trend of incremental increases in direct ownershi
8-K - Rocket Companies, Inc. (0001805284) (Filer)
8-K - Rocket Companies, Inc. (0001805284) (Filer)
8-K - Rocket Companies, Inc. (0001805284) (Filer)
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DETROIT, July 18, 2024 /PRNewswire/ -- Rocket Companies, Inc. (NYSE: RKT) ("Rocket Companies" or the "Company"), the Detroit-based fintech platform company including mortgage, real estate and other financial services businesses, today announced that the Company will issue its second quarter 2024 earnings on August 1, 2024. Leadership will host a conference call to discuss results at 4:30 p.m. ET on that date and a press release detailing the Company's results will be issued prior to the call. A live webcast of the event will be available on the "Events & Presentations" section
Instabase, a leading applied artificial intelligence (AI) solution for unstructured data, today announced a partnership with Rocket Mortgage, America's largest retail mortgage lender and a part of Rocket Companies (NYSE:RKT). The partnership helps Rocket Mortgage facilitate data extraction and automation from the 1.5 million documents the lender receives each month. "We're thrilled to partner with Rocket Mortgage that is constantly challenging the status quo for something as important as homeownership," said Clemens Mewald, Head of Product for Instabase. "We are proud to offer cutting-edge AI solutions to our partners that can be applied to improve efficiencies, like extracting data to sa
AUBURN HILLS, Mich., June 24, 2024 /PRNewswire/ -- Six-day event will give consumers the first opportunity to see and get inside the Jeep® brand's first BEV coming to the U.S. later this yearConsumers can visit Jeep.com to place a reservation for the Jeep Wagoneer S Launch EditionJeep will showcase its Wagoneer S, Grand Wagoneer and Wagoneer L models onsite at Detroit Golf ClubNearly 200 Jeep Grand Wagoneer, Wagoneer and Grand Cherokee vehicles will take over Detroit as courtesy vehicles for event transportationThe Jeep® Wagoneer S Launch Edition, the Jeep brand's fully elect
DETROIT, May 29, 2024 /PRNewswire/ -- Rocket Companies (NYSE:RKT) the Detroit-based fintech platform company including mortgage, real estate and other financial services businesses, today announced that Chief Executive Officer Varun Krishna will participate in a fireside chat at the 2024 Morgan Stanley Annual U.S. Financials, Payments & Commercial Real Estate Conference on Monday, June 10 at 1:45 p.m. ET. A live webcast of the event will be available on the "Events & Presentations" section of the Company's Investor Relations website at ir.rocketcompanies.com. A replay of the w
Malhotra is a proven technology leader with decades of experience in engineering, product development and AI strategy for tech and media companies, including Thomson Reuters, Intel and Qualcomm DETROIT, May 6, 2024 /PRNewswire/ -- Rocket Companies (NYSE:RKT), the Detroit-based fintech platform company including mortgage, real estate and other financial service businesses, today announced Shawn Malhotra as its first ever group Chief Technology Officer (CTO), effective May 6, 2024. In this role, Malhotra will oversee the development and implementation of technology across the en
Generated Q1'24 total revenue, net of $1.4 billion and adjusted revenue of $1.2 billion. Adjusted revenue exceeded the high end of guidance range, and year-over-year growth accelerated for the third quarter in a rowReported Q1'24 GAAP net income of $291 million, or $0.11 per GAAP diluted earnings per share and adjusted net income of $84 million, or $0.04 per adjusted diluted earnings per shareDelivered Q1'24 adjusted EBITDA of $174 million, the highest adjusted EBITDA in two yearsDETROIT, May 2, 2024 /PRNewswire/ -- Rocket Companies, Inc. (NYSE:RKT) ("Rocket Companies" or the "Company"), the Detroit-based fintech platform company including mortgage, real estate and personal finance businesse
AI-based tool saves team members approximately 60,000 total hours annually DETROIT, April 23, 2024 /PRNewswire/ -- Rocket Mortgage, America's largest retail mortgage lender and part of Rocket Companies (NYSE:RKT), today unveiled its latest technology innovation: Rocket Logic – Synopsis. This new tool leverages generative AI to listen to, transcribe and search client calls, analyze sentiment and record client patterns and preferences, creating bespoke experiences for the company's millions of current and potential clients. Rocket Logic – Synopsis represents the next building block in the Rocket Logic ecosystem, the company's proprietary and patented AI-driven technology platform aimed to stre
DETROIT, April 18, 2024 /PRNewswire/ -- Rocket Companies, Inc. (NYSE:RKT) ("Rocket Companies" or the "Company"), the Detroit-based fintech platform company including mortgage, real estate and other financial services businesses, today announced that the Company will issue its first quarter 2024 earnings on May 2, 2024. Leadership will host a conference call to discuss results at 4:30 p.m. ET on that date and a press release detailing the Company's results will be issued prior to the call. A live webcast of the event will be available on the "Events & Presentations" section of
Harnessing the power of social media, dreamers and their biggest advocates come together in support of Habitat for Humanity to help everyone experience home DETROIT, April 16, 2024 /PRNewswire/ -- Rocket Mortgage, the official mortgage partner of the 2024 NFL Draft and a champion of those dreaming of homeownership, today announced the launch of its "Dreammate" campaign – an inspirational, multi-media campaign celebrating the NFL Draft. Through the "Dreammate" movement, Rocket Mortgage aims to inspire those relentlessly chasing their dreams. The campaign acknowledges the valuab
Patented platform simplifies and automates the end-to-end homebuying experience by leveraging generative AI, automation and machine learning DETROIT, April 9, 2024 /PRNewswire/ -- Rocket Mortgage, America's largest retail mortgage lender and a part of Rocket Companies (NYSE:RKT), today unveiled Rocket Logic – the company's patented artificial intelligence (AI) driven technology platform designed to make homeownership simpler and quicker. This platform makes the mortgage process more efficient by combining insights from more than 10 petabytes of proprietary data and 50 million annual call transcripts with state-of-the-art deep learning and generative AI systems, allowing Rocket Mortgage to cl
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DETROIT, July 18, 2024 /PRNewswire/ -- Rocket Companies, Inc. (NYSE: RKT) ("Rocket Companies" or the "Company"), the Detroit-based fintech platform company including mortgage, real estate and other financial services businesses, today announced that the Company will issue its second quarter 2024 earnings on August 1, 2024. Leadership will host a conference call to discuss results at 4:30 p.m. ET on that date and a press release detailing the Company's results will be issued prior to the call. A live webcast of the event will be available on the "Events & Presentations" section
Generated Q1'24 total revenue, net of $1.4 billion and adjusted revenue of $1.2 billion. Adjusted revenue exceeded the high end of guidance range, and year-over-year growth accelerated for the third quarter in a rowReported Q1'24 GAAP net income of $291 million, or $0.11 per GAAP diluted earnings per share and adjusted net income of $84 million, or $0.04 per adjusted diluted earnings per shareDelivered Q1'24 adjusted EBITDA of $174 million, the highest adjusted EBITDA in two yearsDETROIT, May 2, 2024 /PRNewswire/ -- Rocket Companies, Inc. (NYSE:RKT) ("Rocket Companies" or the "Company"), the Detroit-based fintech platform company including mortgage, real estate and personal finance businesse
DETROIT, April 18, 2024 /PRNewswire/ -- Rocket Companies, Inc. (NYSE:RKT) ("Rocket Companies" or the "Company"), the Detroit-based fintech platform company including mortgage, real estate and other financial services businesses, today announced that the Company will issue its first quarter 2024 earnings on May 2, 2024. Leadership will host a conference call to discuss results at 4:30 p.m. ET on that date and a press release detailing the Company's results will be issued prior to the call. A live webcast of the event will be available on the "Events & Presentations" section of
Generated Q4'23 net revenue of $694 million and adjusted revenue of $885 million. Adjusted revenue exceeded the high end of guidance range, and year-over-year growth accelerated for a second quarter in a rowReported full year 2023 net revenue and adjusted revenue of $3.8 billionReduced cost structure by nearly 20% in 2023, following a nearly 25% cost reduction in 2022Reported Q4'23 GAAP net loss of $233 million, or $(0.09) per GAAP diluted loss per share and adjusted net loss of $6 million or $0.00 per adjusted diluted loss per shareDelivered adjusted EBITDA profitability for the full year and in Q4'23, for the third quarter in a rowDETROIT, Feb. 22, 2024 /PRNewswire/ -- Rocket Companies, In
DETROIT, Feb. 8, 2024 /PRNewswire/ -- Rocket Companies, Inc. (NYSE:RKT) ("Rocket Companies" or the "Company"), the Detroit-based fintech platform company including mortgage, real estate and other financial services businesses, today announced that the Company will issue its fourth quarter and full year 2023 earnings on February 22, 2024. Leadership will host a conference call to discuss results at 4:30 p.m. ET on that date and a press release detailing the Company's results will be issued prior to the call. A live webcast of the event will be available on the "Events & Present
Rocket Companies appoints Varun Krishna as Chief Executive Officer of Rocket Companies and Rocket MortgageGenerated Q2'23 net revenue of $1.236 billion and adjusted revenue of $1.002 billion. Adjusted revenue exceeded the high end of guidance rangeReported net income of $139 million, or $0.05 per diluted shareAnticipated annualized cost savings of $150 million to $200 million through prioritization and cost reduction measures, as part of ongoing company-wide focus on efficiencyDETROIT, Aug. 3, 2023 /PRNewswire/ -- Rocket Companies, Inc. (NYSE:RKT) ("Rocket Companies" or the "Company"), a Detroit-based fintech platform company consisting of tech-driven mortgage, real estate and financial serv
DETROIT, July 20, 2023 /PRNewswire/ -- Rocket Companies, Inc. (NYSE:RKT) ("Rocket Companies" or the "Company"), a Detroit-based fintech platform company consisting of tech-driven mortgage, real estate and financial services businesses – including Rocket Mortgage, Rocket Homes, Rocket Loans and Rocket Money – today announced the Company will issue its second quarter 2023 earnings on August 3, 2023. Leadership will host a conference call to discuss results at 4:30 p.m. ET on that date and a press release detailing the Company's results will be issued prior to the call. A live we
Generated Q1'23 net revenue of $666 million and adjusted revenue of $882 million. Adjusted revenue exceeded the high end of guidance rangeReached 27.6 million Rocket Accounts1 across our ecosystem, as of March 31, 2023Launched BUY+ and SELL+ purchase initiative, a collaboration between Rocket Homes and Rocket Mortgage, to help homebuyers and homeowners transact with easeUnveiled Rocket Visa Signature Credit Card, the first credit card designed to make home buying more accessible and homeownership easier through everyday spendingAs previously announced on February 13, 2023, Bill Emerson, Board Director of Rocket Companies and Vice Chairman of Rock Holdings, has been appointed to serve as inte
DETROIT, April 21, 2023 /PRNewswire/ -- Rocket Companies, Inc. (NYSE:RKT) ("Rocket Companies" or the "Company"), a Detroit-based fintech platform company consisting of tech-driven mortgage, real estate and financial services businesses – including Rocket Mortgage, Rocket Homes, Rocket Loans and Rocket Money – today announced the Company will issue its first quarter 2023 earnings on May 4, 2023. Leadership will host a conference call to discuss results at 4:30 p.m. ET on this date, and a press release detailing the Company's results will be issued prior to the call. A live webc
Generated Full Year 2022 revenue of $5.8 billion and net income of $700 millionReached 25.4 million Rocket Accounts1 across our ecosystem, as of December 31, 2022Rocket Rewards, our loyalty program, grew its user base to 1 million clientsDETROIT, Feb. 28, 2023 /PRNewswire/ -- Rocket Companies, Inc. (NYSE:RKT) ("Rocket Companies" or the "Company"), a Detroit-based fintech platform company consisting of tech-driven mortgage, real estate and financial services businesses – including Rocket Mortgage, Rocket Homes, Rocket Loans and Rocket Money – today announced results for the quarter and full year ended December 31, 2022.
Barclays analyst Terry Ma maintains Rocket Companies (NYSE:RKT) with a Underweight and raises the price target from $9 to $10.
JP Morgan analyst Richard Shane maintains Rocket Companies (NYSE:RKT) with a Underweight and raises the price target from $11 to $13.5.
Rocket Companies, Inc. (NYSE:RKT) has appointed Heather Lovier as the company’s chief operating officer. According to an exchange filing, Lovier replaces Bill Emerson, who will continue as the company’s president. Lovier, who is 50 years old, started working as the chief operating officer of RKT Holdings in March 2024. In 2003, she joined Rocket Mortgage and has served in various roles throughout her tenure, including as executive vice president of client experience operations from April 2017 to October 2021 and as chief client experience officer of Rocket Mortgage from November 2021 to February 2024. Lovier will continue her role as chief operating officer of RKT Holdings. “A
Recently, there has been a series of insider purchases at Rocket Companies Inc. by Director Rizik Matthew. On 2024-06-21, Director Rizik Matthew made a purchase of $8,648 worth of shares, acquiring 622 units at a price of $13.90. This transaction increased his direct ownership by 0.09% to 706,108 units, as reported in SEC Form 4. This purchase indicates confidence from an insider in the company's prospects. Building up to this latest purchase, Rizik Matthew had also bought shares in the previous month. On 2024-05-31, he acquired $4,375 worth of shares (317 units at $13.80), increasing his direct ownership by 0.05% to 702,497 units. Following this, he made purchases on 2024-06-05, 2024-06-07
Rizik Matthew, a prominent figure at Rocket Companies Inc., has been steadily increasing his direct ownership in the company through a series of insider purchases over the past couple of months. The most recent purchase, which took place on June 7, 2024, saw Rizik Matthew acquiring $8,630 worth of shares, equivalent to 602 units at $14.34 per share. This transaction resulted in a marginal increase in his direct ownership by 0.09%, bringing his total direct ownership to 703,727 units as reported in the SEC Form 4. When we examine the pattern of Rizik Matthew's insider purchases leading up to the latest transaction, we can observe a consistent trend of incremental increases in direct ownershi
Rocket Companies's (NYSE:RKT) short percent of float has fallen 12.59% since its last report. The company recently reported that it has 18.70 million shares sold short, which is 13.54% of all regular shares that are available for trading. Based on its trading volume, it would take traders 6.49 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short int
Piper Sandler analyst Brad Capuzzi reiterates Rocket Companies (NYSE:RKT) with a Neutral and raises the price target from $12 to $13.
Piper Sandler analyst Kevin Barker maintains Rocket Companies (NYSE:RKT) with a Neutral and raises the price target from $12 to $13.
https://www.wsj.com/articles/rocket-cos-taps-former-thomson-reuters-exec-to-lead-companywide-ai-efforts-18f1624c?page=1Rocket Cos., whose portfolio includes Rocket Mortgage, Rocket Homes and Rocket Money, is creating a new C-level technology role, as the Detroit-based company looks to unify its AI push under one leader.Shawn Malhotra, former head of engineering and product development at Thomson Reuters, has been tapped as chief technology officer and will begin Monday, reporting to Chief Executive Varun Krishna. The move comes one month after Rocket Mortgage chief information officer Brian Woodring said he was leaving the company to pursue other opportunities. Krishna says installing a comp
Citigroup downgraded Rocket Companies from Neutral to Sell and set a new price target of $10.00 from $9.00 previously
Deutsche Bank initiated coverage of Rocket Companies with a rating of Hold
JP Morgan downgraded Rocket Companies from Neutral to Underweight and set a new price target of $10.50 from $8.50 previously
Keefe Bruyette downgraded Rocket Companies from Mkt Perform to Underperform and set a new price target of $10.75
Wells Fargo downgraded Rocket Companies from Overweight to Equal Weight and set a new price target of $14.00 from $13.00 previously
UBS resumed coverage of Rocket Companies with a rating of Sell and set a new price target of $8.50
Barclays initiated coverage of Rocket Companies with a rating of Underweight and set a new price target of $6.00
Keefe Bruyette upgraded Rocket Companies from Underperform to Mkt Perform and set a new price target of $11.50
Argus upgraded Rocket Companies from Sell to Hold
Credit Suisse downgraded Rocket Companies from Neutral to Underperform and set a new price target of $7.00
Harnessing the power of social media, dreamers and their biggest advocates come together in support of Habitat for Humanity to help everyone experience home DETROIT, April 16, 2024 /PRNewswire/ -- Rocket Mortgage, the official mortgage partner of the 2024 NFL Draft and a champion of those dreaming of homeownership, today announced the launch of its "Dreammate" campaign – an inspirational, multi-media campaign celebrating the NFL Draft. Through the "Dreammate" movement, Rocket Mortgage aims to inspire those relentlessly chasing their dreams. The campaign acknowledges the valuab
This appointment of Rampell, along with the recent addition of CEO Varun Krishna to the Board, furthers the Company's fintech and AI-driven vision. DETROIT, Feb. 1, 2024 /PRNewswire/ -- Rocket Companies (NYSE: RKT), the Detroit-based fintech platform company including mortgage, real estate and other financial services businesses, today announced that Alex Rampell has been appointed as an independent director to the Company's Board of Directors. RKT) announced that Alex Rampell has been appointed as an independent director to the Company's Board of Directors." alt="Rocket Companies (NYSE:RKT) announced that Alex Rampell has b
Mildenhall is an internationally recognized marketing leader with decades of experience growing brands for public companies including Coca Cola and Airbnb. DETROIT, Jan. 4, 2024 /PRNewswire/ -- Rocket Companies (NYSE:RKT), the Detroit-based fintech platform company including mortgage, real estate and other financial services businesses, today announced that it has named Jonathan Mildenhall as its first ever group Chief Marketing Officer (CMO), effective January 8, 2024. In this new role, Mildenhall will be responsible for creating a unified and compelling voice for all busines
ROYAL OAK, Mich., Dec. 11, 2023 /PRNewswire/ -- Agree Realty Corporation (NYSE:ADC) (the "Company") today announced that Linglong He will join the Company's Board of Directors (the "Board"), effective January 1, 2024. Ms. He is currently the Chief Leadership Advisor at Rocket Central, where she is responsible for executive leadership development for Rocket Companies, Inc. (NYSE:RKT). She co-founded Rocket Central and previously served as President and Chief Operating Officer. Prior to that role, Ms. He served as Chief Information Officer of Rocket Mortgage, one of the nation's
Highly Accomplished Fintech Executive with Proven Track Record of Delivering Superior Performance and InnovationBob Walters, Rocket Companies Executive and Rocket Mortgage CEO to Retire Effective September 5Krishna to Succeed Walters as Rocket Mortgage CEO in dual role; Bill Emerson to Become President and Chief Operating Officer of Rocket CompaniesDETROIT, July 31, 2023 /PRNewswire/ -- Rocket Companies (NYSE: RKT), a Detroit-based fintech platform company consisting of tech-driven mortgage, real estate and financial services businesses, including Rocket Mortgage, Rocket Homes, Rocket Loans and Rocket Money, today announced that its Board of Directors has appointed accomplished fintech execu
Jay Farner to Retire June 1, 2023, After 27 Years with CompanyLongtime Rocket Executive Bill Emerson Named Interim CEO, Emerson Served 15 Years as Farner's Immediate Predecessor Rocket Initiates Search for Permanent SuccessorDETROIT, Feb. 13, 2023 /PRNewswire/ -- Rocket Companies (NYSE:RKT), a Detroit-based fintech platform company consisting of tech-driven mortgage, real estate and financial services businesses, including Rocket Mortgage, Rocket Homes, Rocket Loans and Rocket Money, today announced that following a 27-year career at the Company, Chief Executive Officer Jay Farner plans to retire from his position effective June 1, 2023.