Rocket Lab (RKLB) Stock: Defense Contract Win Drives Shares to All-Time High

TLDR

• Rocket Lab shares surged 6% to an all-time high of $91.80 on Wednesday
• $816 million U.S. Space Development Agency contract doubles company backlog
• Cantor Fitzgerald calls Rocket Lab the leading SpaceX alternative
• Neutron rocket launch scheduled for first half of 2026
• Stock has gained over 250% in the past year

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Rocket Lab stock climbed more than 6% during Wednesday’s session, hitting a record high of $91.80. The rally came as satellite stocks rose across the sector.

Rocket Lab USA, Inc., RKLB

The gains followed increased geopolitical tensions related to recent White House policy shifts. Fellow satellite companies Planet Labs and EchoStar posted similar 6% increases.

Cantor Fitzgerald analyst Andres Sheppard reaffirmed his Buy rating on the stock. He identified Rocket Lab as the premier commercial alternative to SpaceX in the launch market.

The company recently landed an $816 million contract from the U.S. Space Development Agency. This represents the largest deal in Rocket Lab’s history.

Contract Win Doubles Company Backlog

The defense contract effectively doubled Rocket Lab’s total backlog. The company will design and manufacture 18 satellites for missile-warning, tracking, and defense operations in low Earth orbit.

This contract marks a major step in Rocket Lab’s evolution. The company continues expanding beyond launch services into comprehensive space infrastructure.

Rocket Lab completed 21 Electron launches in fiscal 2025, its highest annual total. The company has now successfully completed 79 missions, making it the third-most active launch provider worldwide and second in the U.S. behind SpaceX.

The company’s latest quarterly results showed revenue up 48% year-over-year. Rocket Lab posted an EPS of -$0.03, beating analyst expectations of -$0.05.

Neutron Launch Key to Future Growth

Sheppard identified the upcoming Neutron launch as the most critical catalyst for the stock. The first flight is expected in the first half of 2026.

Neutron is a medium-lift, reusable launch vehicle. Management plans to have the rocket on the launchpad in Q1 2026, with its maiden flight following soon after.

A successful Neutron launch could transform Rocket Lab’s economics. The vehicle would establish the company as the only viable commercial alternative to SpaceX’s Falcon 9.

Potential risks include Neutron delays, regulatory hurdles, and supply-chain issues. However, Sheppard expressed confidence in Rocket Lab’s proven execution track record.

The stock currently trades above analyst consensus targets. The average price target of $61.25 suggests over 20% downside from current levels, though several analysts have recently raised their targets.

Insider selling has been active over recent months. Corporate insiders sold approximately 4.2 million shares worth around $262 million in the past 90 days. CFO Adam Spice sold 1.365 million shares valued at roughly $103 million.

Rocket Lab stock has soared more than 250% over the past 12 months. The shares dipped 2% in after-hours trading following the record high.

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