Rocket Lab (RKLB) Stock Rises After $663M in Space Force Contracts

TLDR

• Rocket Lab stock rose around 1.1% to $75.67, with intraday highs touching $80.19
• The company completed its 92nd Electron mission, its 13th launch of 2026
• The U.S. Space Force awarded Rocket Lab a $397 million contract for its SB-AMTI satellite program
• Total recent Space Force contract wins reached approximately $663 million, supporting a backlog of roughly $2.2 billion
• Q2 2026 earnings are due August 10; analysts expect revenue of $231.79 million, up from $144.50 million a year ago

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Rocket Lab stock climbed on Thursday, trading as high as $80.19 before settling around $75.67, up roughly 1.1% from the previous close of $74.82.

Rocket Lab USA, Inc., RKLB

The move came on the back of a busy news week for the company, with a successful launch and a string of government contract wins pulling investor attention back to the stock.

Rocket Lab completed its 92nd Electron mission on Thursday, launching from Mahia, New Zealand. The mission was the eighth flight for the IQPS Earth imaging constellation and the company’s 13th Electron launch of 2026.

The U.S. Space Force awarded Rocket Lab a $397 million contract to develop, launch, and operate Flatellite spacecraft for the Space-Based Airborne Moving Target Indicator program. The Flatellite platform is designed for large satellite constellations.

When combined with a separate record launch agreement, Rocket Lab’s total Space Force contract wins in recent weeks reached approximately $663 million. The company’s backlog now stands at roughly $2.2 billion.

Some of the SB-AMTI missions depend on Rocket Lab’s Neutron rocket, which has not yet flown.

Analyst Outlook

Wall Street remains broadly positive on the stock. The consensus rating sits at “Moderate Buy” with an average price target of $110.29 across analysts tracked by MarketBeat. KeyCorp has the most bullish target at $135, while Piper Sandler sits at the low end with a Neutral rating and an $83 target.

KGI Securities upgraded Rocket Lab to Outperform on July 27, setting a $107 price target. Bank of America raised its target from $105 to $115 in late June, maintaining a Buy rating.

Earnings on Deck

All eyes now turn to August 10, when Rocket Lab is set to report Q2 2026 results after the close. Analysts expect a loss of 7 cents per share, compared to a loss of 13 cents in the same period last year.

Revenue estimates sit at $231.79 million, up from $144.50 million a year ago.

In Q1 2026, Rocket Lab posted revenue of $200.35 million, up 63.4% year-over-year, beating analyst estimates of $189.65 million.

The stock carries a market cap of $43.79 billion and trades at a negative P/E of -236.47. Its beta of 2.60 reflects the volatility that has come with the territory.

Insiders have sold over 3.8 million shares valued at roughly $362.8 million over the last three months. CEO Peter Beck sold 990,960 shares on July 8 at an average price of $82.86, reducing his stake by 36.5%.

The stock’s 50-day moving average sits at $91.53, and its 200-day moving average is $85.99, both above the current trading price.

Institutional ownership stands at 71.78%, with Bank of New York Mellon Corp picking up a new stake worth approximately $201.5 million in Q2.