Rocket Lab Hits Record Revenue As Neutron Targets Q4 Debut

Shares of Rocket Lab Corp (NASDAQ: RKLB ) tanked in early trading on Tuesday, even after the company reported upbeat second-quarter results.

Here are the key analyst takeaways: Cantor Fitzgerald analyst Andres Sheppard reaffirmed an Overweight rating, while raising the price target from $96 to $122.

BofA Securities analyst Ronald Epstein maintained a Buy rating and price target of $115.

BTIG analyst Andre Madrid reiterated a Neutral rating on the stock.

Check out other analyst stock ratings.

Cantor Fitzgerald: Rocket Lab reported revenue of around $234.1 million, slightly above consensus and hitting a record high, Sheppard said in a note.

Management reaffirmed that Neutron remains on track for its first launch later this year, which would be the "most material catalyst" for the stock, he added. "Once operational, we expect Neutron to become (currently) the only viable alternative (and most direct competitor) to the Falcon 9," the analyst wrote.

He expects strong demand for Neutron to "materially improve the unit economics and accelerate the path to profitability." BofA Securities: Rocket Lab’s revenues grew 62% year-on-year, Epstein said.

Space Systems revenue grew 94% year-on-year, driven mainly by SDA Tranche II and III contracts as well as the company’s components business, he added.

The company reported adjusted EBITDA loss of $8.8 million, better than BofA’s estimate of a loss of $19.3 million, the analyst stated. "Rocket Lab reported a record backlog of $2.36bn, rising 28% from $1.85mn at the end of 2025 and has completed 87 successful Electron missions through 2Q26," he further wrote.

BTIG: Rocket Lab’s higher-than-expected results came alongside major wins across both Launch and Space Systems, Madrid said.

The quarter was marked by "continued momentum toward becoming a fully integrated space company," following the announced acquisition of Iridium (NASDAQ: IRDM ), he added.

Management indicated that Stage 1 production was on track, with delivery to the launchpad in the fourth quarter, the analyst stated. "The company announced +$437mn of launch awards across 2Q26 and post-quarter activity, bringing launch backlog to more than 90 missions," he further wrote.

RKLB Price Action: Shares of Rocket Lab had declined by 1.94% to $78.49 at the time of publication on Tuesday.

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