Rocket Lab (RKLB) Stock: Why Shares Just Hit Another Record High

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Rocket Lab (RKLB) stock closed at $86.03 on Tuesday, marking its second consecutive all-time high with a 10.1% daily gain and reaching over $80 during trading.
The stock has surged 70% in the past month and is up 171% over the past year, with shares climbing nearly 1,500% over two years.
Rocket Lab secured an $816 million contract from the U.S. Space Development Agency to build 18 satellites with advanced missile tracking sensors, the largest deal in company history.
Options trading volume jumped to 3.5 times the 90-day average, while Goldman Sachs made RKLB the top holding in its retail-focused GS Memes basket.
The company completed 21 Electron launches in fiscal year 2025, becoming the third-highest launcher globally despite remaining unprofitable since going public.

Space Company Reaches New All-Time High at $86.03

Rocket Lab USA closed at $86.03 on Tuesday, hitting a new record for the second straight session. The 10.1% jump caps off a month where shares climbed more than 70%.

The stock opened 2026 with momentum that has caught the attention of Wall Street analysts and retail traders alike. Over the past year, RKLB has risen 171%, while the two-year gain sits near 1,500%.

Trading volume told part of the story. Options activity ran more than 3.5 times the stock’s 90-day average on Tuesday. That kind of volume typically indicates short-term traders are piling in, betting the rally continues.

The space sector got a lift from Rocket Lab’s move. AST SpaceMobile and EchoStar both posted gains on Tuesday, suggesting the enthusiasm spread beyond one company.

Rocket Lab’s market cap now stands at $42.44 billion. That figure towers over its annual revenue of $554.53 million. The gap suggests investors are betting heavily on future growth rather than current financials.

Rocket Lab USA, Inc., RKLB

Major Contract Win Drives Confidence

The company landed an $816 million deal from the U.S. Space Development Agency in recent weeks. The contract calls for Rocket Lab to design and manufacture 18 satellites for the Tracking Layer Tranche 3 program.

The satellites will carry advanced missile warning and tracking sensors. That includes the company’s next-generation Phoenix infrared sensor payload and StarLite space protection sensors. The base contract is worth $806 million, with additional options adding $10.45 million.

The deal marks the largest contract in Rocket Lab’s history. Needham responded by raising its price target to $90 from $63, maintaining a Buy rating. Cantor Fitzgerald kept an Overweight rating with a $72 target.

Launch Record and Retail Backing

Rocket Lab completed 21 Electron launches in fiscal year 2025, its highest annual total. The tally made it the third-highest launcher globally and the leader among publicly traded space companies.

One recent mission deployed four DiskSat spacecraft for the U.S. Space Force. The launch happened five months ahead of schedule, a detail that underscores the company’s operational pace.

Goldman Sachs made Rocket Lab the largest holding in its GS Memes basket. The move places RKLB ahead of other retail favorites and highlights how much individual investors are driving demand. The stock remains popular despite posting no annual profit since going public.

Analyst Outlook and Valuation Questions

TipRanks data shows eight Buy ratings and four Hold ratings for RKLB over the past three months. The average analyst price target sits at $69.55, which implies a potential downside of 19% from current levels.

Rocket Lab maintains a balance sheet with more cash than debt. Revenue growth hit 52% recently, though the company still operates at a loss. InvestingPro analysis suggests the stock appears overvalued compared to fair value estimates.

Analyst targets range from $47 to $90 per share. The wide spread reflects differing views on how quickly Rocket Lab can turn its contracts and launch activity into sustainable profits.

The company is expanding beyond launches into satellite components, space systems, and defense work. That diversification is part of what investors see as a path to profitability, though the timeline remains uncertain. After such a fast climb, future gains will likely depend on whether Rocket Lab can deliver on its growing list of contracts and operational targets.