Rocket Lab's Stock Performance#
Rocket Lab Corporation (NASDAQ:RKLB) saw its shares rise by 2% in after-hours trading on Wednesday. This increase followed the announcement of a significant $190 million contract for 20 hypersonic test flights, alongside an upgrade from an analyst.
Details of the Contract#
The new contract is Rocket Lab's largest single launch agreement to date. It brings the company's total backlog of launches to over 70, with the overall backlog for launch and space systems exceeding $2 billion. Under the MACH-TB 2.0 Task Area 1 program, led by Kratos Defense & Security Solutions, Rocket Lab will conduct 20 hypersonic test flights using its HASTE launch vehicle over the next four years. The first of these missions is expected to occur within months of the contract signing.
Mission Success and Future Plans#
Rocket Lab has maintained a perfect mission success rate for all HASTE launches since 2023. The addition of these 20 missions means that Rocket Lab's launch sales for the first quarter of 2026 will total 28, nearly matching the entire launch total for 2025. The company is now managing over 70 launches in its backlog.
Analyst Insights#
Analyst Greg Pendy from Clear Street has initiated coverage on Rocket Lab with a Buy rating and a price target of $88. He emphasized that Rocket Lab is more than just a launch provider; its unique, integrated business model positions it competitively against industry leader SpaceX. Pendy highlighted three key growth drivers for Rocket Lab: the reusable Neutron rocket expected in late 2026, the Electron rocket's dominance with plans to scale to 52 launches annually by 2030, and the expansion of contracts in the Space Systems segment.