Rocket

United

Resistance

Gary

<ul class="list-ic vertical">
 <li><span>1</span> <a>Goldman Sachs reduces its target price from $11 to $9 for RKT Stock.</a></li>
 <li><span>2</span> <a>Rocket Companies has witnessed a huge decline in revenue.</a></li>
</ul>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh3.googleusercontent.com/ZKOssBnuU-6wRX4QjPygGspAopo44-RrjDYm5ZWIJOjdrqhKmFGeGLOonTml3UFxOGzEFUTd2Jk-TTMwxK1ucnbusLj3uEH5un8B6Kms9RWv6m5xjAlYIIvYRsLr8NYT16u5dFjv9LfIGkUG3VhLDCs" alt="Brokerage Houses Neutral On RKT Share, What To Expect From Stock?">
 </figure>
</div>
<p>Rocket Companies Inc. is also known as Rocket Mortgage, LLC. It is an American Mortgage lender founded in the year 1985. It was founded by Dan Gilbert, Ron Berman, Gary Gilbert, and Lindsay Gross. The company became one of the largest retail vendors in the U.S. for the year 2018. It has 24K employees as per the records of 2020. Rocket Companies Inc. has its headquarters in Detroit, Michigan, the United States.&nbsp;</p>
<p>The RKT stock is currently following a 52-week range of $5.97-$11.95. The gross margin of the company is 96.75%. The current beta of the RKT stock price is 2.38 making its returns more volatile as compared to the overall market.</p>
<p>The Rocket Companies Inc. has 112.06M shares floating in the market representing the number of shares available in the market for trading. However, it has a negative EPS of -0.18 USD which shows that buyers are not very interested in the RKT stock and are not willing to pay any good sum of money for buying the company’s shares. This stock has a market cap of $15.699B.</p>
<h2 class="wp-block-heading" id="strong-rocket-companies-inc-stock-performance-analysis-strong"><strong>Rocket Companies Inc. Stock Performance Analysis</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh6.googleusercontent.com/QExzBiSm0e1iKZ7nLWp9qGK9DDKunU0iIY44a5BLz6u9HooEWAPWom6vrtXuQIu-amAYC0uWzF9x5j9eXa88KBzF6GDzphhtyHWzKGYFrKFi33Emisz5vCtT9OAhicFUG6Idym88q4Y4KnPmMETLzDM" alt="Brokerage Houses Neutral On RKT Share, What To Expect From Stock?">
  <figcaption class="wp-element-caption">
   Source: <a href="https://in.tradingview.com/symbols/NYSE-RKT/" rel="noopener noreferrer nofollow">Tradingview</a>
  </figcaption>
 </figure>
</div>
<p>Rocket Companies Inc. has witnessed a huge spike in revenue in the year 2020 and since then the revenue has been consistently declining over the years. The RKT has reported a revenue of $3.85B in the year 2022 following a net income of $46.44M. Despite of decline in revenue of the company, there has been a subtle decline in the debt of the company.</p>
<h3 class="wp-block-heading" id="strong-performance-analysis-of-rkt-stock-strong"><strong>Performance Analysis of RKT Stock</strong></h3>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh5.googleusercontent.com/QB-aWpmAG1P4xzTOeou9GYADnY0o8UVeesuyuM_nf9ZuHIXRUv4-huHkrTQ_5fzl0f8XOC7jJidcUpcQSbsgKkqqCv54ZfrCO5c4k2qXfipT-2Tl-ezUUSMCZiRruFRBPyyeje-3uKpGGMs4fI8z02k" alt="Brokerage Houses Neutral On RKT Share, What To Expect From Stock?">
  <figcaption class="wp-element-caption">
   Source: Tradingview
  </figcaption>
 </figure>
</div>
<p>As the RKT stock has been unable to meet the estimated revenue in maximum quarters and the actual EPS of the company has been very low and unable to meet the target. The analysts are neutral on the stock.</p>
<h2 class="wp-block-heading" id="strong-rkt-stock-trying-to-rebound-from-supports-what-s-coming-next-strong"><strong>RKT Stock Trying To Rebound From Supports, What’s Coming Next?</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh4.googleusercontent.com/TBiVNy2xvy7fuvbhXKWA8rKosMLHPYfqDKP-G0faqtHTikLxESeh11Ec_avVpWxcWlSZSEwlluPhIpQAnGD4TJYnVNGtiL5QCGRO8sEk-z4p0BWW52EkAp-_DFBYGWWO8NjZPuC7F3ODUQMOQEVTgdw" alt="Brokerage Houses Neutral On RKT Share, What To Expect From Stock?">
  <figcaption class="wp-element-caption">
   Source : RKT: 1D: NYSE
  </figcaption>
 </figure>
</div>
<p>After facing a decline from the higher levels following a downtrend, the RKT stock price is taking rejection at a lower support level. If the share price further manages to break above the level of $8.50, we can witness further higher levels in the stock.</p>
<p>The 50-day and the 200-day EMA for the RKT share are trading in a golden cross and are on the verge of giving a bearish cross. If the stock’s price continues to decline to further lower levels, then we might witness a death cross in the charts.</p>
<p>The RKT stock price’s RSI is currently bearish trading below the oversold zones. This represents how dominant the sellers have been in the last few days. The current value of the RSI has declined to 31.17.</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3>
<p>The<a href="https://www.thecoinrepublic.com/2023/07/21/rocket-companies-inc-stock-price-prediction-is-rkt-bearish/" rel="noopener noreferrer nofollow"> Rocket Companies Inc. share</a> has not performed well financially in the last few years. The share price has also witnessed a huge decline and the stock is currently taking support at a demand zone. The EMA for the RKT stock is currently acting uncertain while the RSI is bearish on the charts. Hence, if the RKT stock price manages to break above the level of $8.50 we might witness some higher levels in the stock it may continue to decline to lower levels.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li>Support levels- $6.00 and $7.50</li>
 <li>Resistance levels- $10.70 and $11.80</li>
</ul>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.</p>

Brokerage Houses Neutral On RKT Share, What To Expect From Stock?

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Thecoinrepublic.com

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