Space stocks are getting exposure with recent ASTS contracts. Rocket Lab has a strong cash position of $540m, setting them apart from struggling competitors. Anticipation of revenue growth from Neutron, space systems, and Haste missions leading to potential stock price increase to $15 by end of 2025.
Rocket Lab is growing quickly and is the only real competitor to SpaceX. The company is coming out with a larger rocket soon that should supercharge growth.
Rocket Lab showed fantastic growth in its Q2 earnings report last week. It's not the only space company that's growing, however.
The space industry is growing and nearing a pivotal era as companies like Virgin Galactic (SPCE), Blue Origin, and SpaceX start offering their services. A report by Morgan Stanley estimates that the industry is worth about $350 billion and that it will get to $1.8 trillion in 2035.
We rated Rocket Lab a 'Strong Buy' in January due to the company's sizable backlog, progress on Neutron, and potential 'space economy' upside. Today, the company continues to execute, and we like management's freshly articulated strategic aim for the company - to get into space services. While the valuation is speculative, we think it's worth taking a shot on this competent team and impressive track record.
Elon Musk's impressive innovations include SpaceX, valued at $210 billion, dominating commercial spaceflight and benefiting Starlink with over 3 million subscribers. Rocket Lab, a competitor to SpaceX, has seen a 71% revenue increase in 2Q24, with a strong backlog and strategic R&D investments for future growth. While Rocket Lab is not yet profitable, its success with the Electron rocket and upcoming Neutron project positions it well against competitors like SpaceX, showing significant potential for the future.
Rocket Lab is one of the most innovative stocks in the market today.
Rocket Lab has shipped two new spacecraft to Cape Canaveral to perform an ESCAPADE mission for NASA. The ESCAPADE mission has a reported budget of $55 million.
Rocket Lab is the only successful private launch company besides SpaceX. The company is betting big on its next rocket, called the Neutron.
Rocket Lab CEO Peter Beck posted photographic evidence yesterday of progress being made on the company's new Neutron rocket. Wall Street analysts expect Rocket Lab to begin earning profits roughly at the same time it begins launching Neutron.
Rocket Labs reported record revenue of $106 million, up 71% year-over-year, with an order backlog of $1.07 billion. Launch Services segment revenue slightly exceeded guidance, while space system segment revenue met expectations. The company has a strong balance sheet to manage its operating timeline and has a project scheduled for 2025 that can compete with the market leader.
Five years ago, New Zealand rocket launcher Rocket Lab announced plans to set up a launch site in the United States. Now, U.S. space giant SpaceX may be contemplating setting up a rocket base in Australia.