Analyst Consensus ?
ConsensusHold28 ratings
Bullish1035.7%
Neutral1553.6%
Bearish310.7%
Rocket Companies, Inc. · RKT · FY2026 Q2 · Calendar Q3 2026
Rocket Companies: Share gains and margin expansion offset housing pressure
The current quarter supports a cautiously constructive operating thesis: Rocket Companies is gaining share and expanding margins through AI, servicing and acquisitions, but sustaining those gains depends on housing conditions, integration execution and continued expense discipline.
Reported After market closeNYSEFinancial Services
$36.15B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.16
Consensus $0.16
EPS surprise
-2.6%
Reported versus consensus
Reported revenue
$2.78B
Consensus $2.81B
Revenue surprise
-1.0%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+3.8%
Event window
SPY move
+0.6%
Same window
Abnormal move
+3.2%
Stock minus SPY
Volume
1.5×
Versus trailing sessions
Subsequent drift
+2.5%
Up to 20 sessions
RKTSPY benchmark
Ask FN2 about RKT FY2026 Q2
Transcript, numbers and history already loaded
Why did RKT rise 3.8% after missing EPS estimates in FY2026 Q2?What changed in RKT's guidance and outlook in FY2026 Q2?Give me the bull and bear case for RKT after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, the company emphasized record purchase and refinance share gains, a 28% adjusted EBITDA margin, recurring revenue above 70%, Voice AI deployment and completion of a major servicing migration. The outlook remained maintained, with Q3 revenue guided to $2.5-$2.7 billion.
Guidance delta
Management maintained its outlook and guided to Q3 revenue of $2.5-$2.7 billion, while expecting continued share gains and expense reductions.
Key takeaways
- Management reported record purchase and refinance market-share gains despite a weak housing environment and higher mortgage rates.
- Adjusted EBITDA margin expanded to 28%, while recurring revenue exceeded 70% of total revenue.
- The company highlighted AI-enabled productivity, Redfin and Mr. Cooper integration, and a $11.2 billion liquidity position.
Management priorities
- Further integrate Redfin and Mr. Cooper to unlock additional synergies.
- Expand AI capabilities, including broader Voice AI deployment.
- Scale home-equity lending and Rocket Loans while pursuing additional expense synergies.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$12.8Current
$8Low
$17.21Average
$25High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 31, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| RBC Capital | Sector Perform | Sector Perform | Maintain | Oct 30, 2026 |
| StoneX | Buy | Buy | Maintain | Oct 14, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Oct 12, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Oct 12, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Oct 6, 2026 |
| Barclays | Overweight | Overweight | Maintain | Oct 5, 2026 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | Aug 10, 2026 |
| Stephens & Co. | Overweight | Overweight | Maintain | Aug 7, 2026 |
| Benchmark | Buy | Buy | Maintain | Aug 7, 2026 |
| BTIG | Neutral | Buy | Downgrade | Jun 16, 2026 |
| Goldman Sachs | Neutral | Neutral | Maintain | Oct 29, 2025 |
| UBS | Neutral | Neutral | Maintain | Oct 10, 2025 |
| B of A Securities | Buy | Neutral | Upgrade | Sep 10, 2025 |
| Jefferies | Hold | Hold | Maintain | Jul 22, 2025 |
| Wedbush | Neutral | Neutral | Maintain | May 9, 2025 |
| Piper Sandler | Neutral | Neutral | Maintain | Nov 14, 2024 |
| Deutsche Bank | Hold | Hold | Maintain | Aug 2, 2024 |
| Citigroup | Sell | Sell | Maintain | Feb 28, 2024 |
| Argus Research | Hold | Sell | Upgrade | May 22, 2023 |
| Credit Suisse | Underperform | Underperform | Maintain | Mar 2, 2023 |
| Susquehanna | Neutral | Negative | Upgrade | Sep 25, 2020 |
| BMO Capital | Outperform | Market Perform | Upgrade | Feb 1, 2015 |
| DA Davidson | Neutral | Buy | Downgrade | Jan 12, 2015 |
| Macquarie | Neutral | Outperform | Downgrade | Jul 20, 2014 |
| Longbow Research | Neutral | Buy | Downgrade | Apr 14, 2014 |
| Buckingham Research | Buy | Neutral | Upgrade | Feb 2, 2014 |
| CLSA | Underperform | Outperform | Downgrade | Jan 23, 2013 |
| Credit Agricole | Outperform | Buy | Maintain | Nov 4, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $12.8. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Analyst unavailable | $16 | $11.48 | +25.0% | Oct 12, 2026 |
| Wells Fargo | Donald Fandetti | $13 | $11.68 | +1.6% | Oct 6, 2026 |
| RBC Capital | Analyst unavailable | $16 | $14.02 | +25.0% | Aug 12, 2026 |
| Morgan Stanley | Jeffrey Adelson | $19 | $14.6 | +48.4% | Jul 16, 2026 |
| Stephens | Kyle Joseph | $22.5 | $15.28 | +75.8% | Apr 23, 2026 |
| Wells Fargo | Donald Fandetti | $17 | $15.02 | +32.8% | Apr 9, 2026 |
| Barclays | Analyst unavailable | $22 | $21.1 | +71.9% | Jan 6, 2026 |
| Jefferies | Analyst unavailable | $25 | $18.65 | +95.3% | Dec 19, 2025 |
| Goldman Sachs | Analyst unavailable | $22 | $17.51 | +71.9% | Oct 29, 2025 |
| UBS | Analyst unavailable | $17 | $16.26 | +32.8% | Oct 10, 2025 |
| Barclays | Terry Ma | $19 | $17.8 | +48.4% | Oct 6, 2025 |
| UBS | Doug Harter | $16 | $18.03 | +25.0% | Aug 5, 2025 |
| Deutsche Bank | Mark DeVries | $16 | $12.6 | +25.0% | Apr 1, 2025 |
| Morgan Stanley | Jeffrey Adelson | $18 | $16.3 | +40.6% | Nov 5, 2024 |
| Piper Sandler | Kevin Baker | $16 | $18.44 | +25.0% | Sep 12, 2024 |
| RBC Capital | Daniel Perlin | $20 | $18.48 | +56.3% | Sep 11, 2024 |
| Piper Sandler | Kevin Barker | $13 | $13.81 | +1.6% | May 7, 2024 |
| RBC Capital | Daniel Perlin | $14 | $12.73 | +9.4% | May 3, 2024 |
| Barclays | Mark DeVries | $8 | $8.52 | -37.5% | Jul 14, 2022 |
| Wells Fargo | Donald Fandetti | $10 | $8.46 | -21.9% | Jul 6, 2022 |
| Bank of America Securities | Mihir Bhati | $11 | $11.53 | -14.1% | Feb 22, 2022 |
| Piper Sandler | Kevin Barker | $18 | $13.17 | +40.6% | Jan 5, 2022 |
| Wedbush | Henry Coffey | $14 | $13.68 | +9.4% | Jan 3, 2022 |
| Jefferies | Ryan Carr | $17 | $16.59 | +32.8% | Nov 4, 2021 |
| Argus Research | Kevin Heal | $23 | $19.8 | +79.7% | Jun 8, 2021 |
| KBW | Bose George | $16 | $16.4 | +25.0% | May 9, 2021 |
Track every rating change on RKT the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationRocket Companies, Inc. is a leading enterprise focused on leveraging technology across the real estate, mortgage, and e-commerce industries, with operations spanning the United States and Canada. The firm organizes its activities into two principal divisions: direct engagement with consumers and a collaborative partner network. Its extensive suite of solutions encompasses: Rocket Mortgage: A primary provider of mortgage lending services. Amrock: Offering vital services such as title insurance, property valuation, and transaction settlement. Rocket Homes: A comprehensive platform for home searching and a referral network connecting clients with real estate agents, employing technology to simplify the home buying and selling journey. Rocket Auto: An online marketplace for automotive retail that facilitates centralized and virtual support for car purchases.…
Historical context
All RKT earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| NWG NatWest Group plc | FY2026 Q3 · Calendar Q4 2026 | +2.0% | -9.0% | NatWest maintains guidance as Q3 growth and capital remain strong |
| ERIE Erie Indemnity Company | FY2026 Q3 · Calendar Q4 2026 | +2.1% | +5.3% | Erie pairs resilient demand initiatives with thin underwriting margins |
| CBOE Cboe Global Markets, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +7.8% | Cboe pairs broad growth with new products and higher guidance |
| COIN Coinbase Global, Inc. | FY2026 Q3 · Calendar Q4 2026 | +1189.2% | -10.6% | Coinbase offsets lower spot trading with prediction markets and AI agents |
| TPG TPG Inc. | FY2026 Q3 · Calendar Q4 2026 | +4.3% | +7.5% | TPG raises FRE margin outlook as capital formation accelerates |
| AJG Arthur J. Gallagher & Co. | FY2026 Q3 · Calendar Q4 2026 | +0.3% | +2.9% | AJG: Q3 growth and AssuredPartners synergies support outlook |
Latest beats and misses
Who reports nextBeat on EPS
- NVTFY2026 Q3 · October 30, 2026+8.6% EPS-8.8% move
- BPFY2026 Q3 · October 30, 2026+22.6% EPS+0.1% move
- NWGFY2026 Q3 · October 30, 2026+2.0% EPS-9.0% move
- REGNFY2026 Q3 · October 30, 2026+21.6% EPS+13.3% move
- WYFY2026 Q3 · October 29, 2026+128.3% EPS+3.0% move
- LNTFY2026 Q3 · October 29, 2026+16.0% EPS+1.4% move
Get the RKT recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-08-09T00:16:37.411275+00:00
- FN2 earnings calendar · 2026-09-11T01:23:15.000588+00:00
- Polygon adjusted daily market bars · 2026-10-31T02:50:42.065431+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-31T02:50:42.062556+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-31. For educational purposes only; not investment advice.