Rocket Lab shares have fallen 57% from their all-time high of $151 in June, yet analysts' average price target of $111.31 implies a 49% upside. The company reported record first-quarter launch contracts of 31, more than all of last year, with revenue rising 64% to $200 million and a backlog of $2.2 billion, up 108% year-over-year. Its adjusted EBITDA loss of $11.8 million beat the consensus estimate of a $26 million loss, and at least seven analysts raised their price targets after the results. Rocket Lab also announced a $397 million contract with the U.S. Space Force for advanced flat satellites using its Neutron rocket, following an additional $266 million Space Force contract for suborbital launches. Risks include a net loss of $45 million in the quarter and a high price-to-sales ratio of 53.
