![]() Of the 3.4 million members, 1.7 million are premium paying members, up more than double from Q1 '21. Truebill, the leading personal finance app that we acquired in December 2021, and helps clients manage their entire financial lives, increased its member base to 3.4 million in Q1'22, up 142% from Q1 '21.Rocket Auto, our automotive retail marketplace, generated a first quarter record of $445 million in gross merchandise value 2 in Q1 '22, up $85 million, or 24% from Q1 '21.Rocket Homes drove a first quarter record of 8,200 real estate transactions and $2 billion of real estate transaction value during Q1 '22, representing the value of homes purchased and sold through our real estate agent network.There is a strong correlation between this metric and client lifetime value, and we believe our net client retention rate is unmatched among mortgage companies and on par with some of the best performing subscription business models in the world. Rocket Mortgage net client retention rate was 92% over the 12 months ended March 31, 2022.Our purchase volume grew 43% over Q1'21 levels, driven by our focus on a superior, technology-driven client experience, product innovation and our integrated, end-to-end home buying ecosystem. Rocket Mortgage achieved its best Q1 purchase and cash-out refinance closed loan volume in company history in Q1 '22.As of March 31, 2022, our servicing portfolio includes 2.6 million clients and generates over $1.4 billion of recurring servicing fee income on an annualized basis. Grew servicing book unpaid principal balance to $546 billion at March 31, 2022, roughly flat from Decemand up 17% from March 31, 2021.Achieved Adjusted EBITDA of $450 million and Adjusted EBITDA margin was 23%.Our net income margin was 39% and our Adjusted Net Income margin was 15%. Generated net income of $1.0 billion and Adjusted Net Income of $293 million.Gain on sale margin was 3.01% and included one-time benefits due to the rapid move in bond markets, which increased gain on sale margin by 15 basis points. Rocket Mortgage generated $54.0 billion in mortgage origination closed loan volume.Generated total revenue, net of $2.7 billion and Adjusted Revenue of $1.9 billion, which represents a 41% and a 52% decline compared to Q1'21 levels, respectively.The post Rocket Mortgage Stock Has No Credit on Wall Street appeared first on InvestorPlace. Stock Prodigy Who Found NIO at $2… Says Buy THIS Now Top Stock Picker Reveals His Next Potential 500% Winner It doesn’t matter if you have $500 in savings or $5 million. Why Everyone Is Investing in 5G All WRONG Nicolas Chahine is the managing director of. On the date of publication, Nicolas Chahine did not have (either directly or indirectly) any positions in the securities mentioned in this article. The upside potential outweighs the downside risk in RKT stock from these record low levels. I’d rather use common sense, do my own homework and arrive at a decision. Listening to them is definitely not a guiding light for my investments. Their ratings system is puzzling to us regular folks. Yet their average price target is almost $22 per share. As it is, the analysts who cover RKT stock are mostly in a hold pattern. Then the Wall Street experts can have concrete evidence. The plan is to hold this stock for the long term, long enough for it to develop reliable metrics. ![]() I don’t expect a sharp rally like what happened in March, but it sure would be nice if it happens. Gut says that soon this selling jag will abate and investors will figure out the value. Then I would not even need a rally to win. Instead of buying shares out right at $16 I can lower my risk considerably by selling puts instead. This is where it’s also good to use the options markets where we can use leverage. There is no concrete support level, so the risk size needs to be appropriately low. When catching a falling knife that is making new lows, we put a lot of faith forward. RKT stock near $16 per share makes for a better bullish bet than a sell at this point. ![]() ![]() Someone who is long the stock already is probably too late panicking out of it now. Anytime I think I have an easy win, I find out that I was missing a puzzle piece. There I deem it a no-brainer, which worries me a little bit. I try to look beyond the digits sometimes and use logic. These are usually the justifications to catch the falling knife. Finding value now is difficult because its fundamentals are still too young. Eventually investors will realize it and stop selling the stock. This, however, does not change the fact that the company has a healthy business. That was a double whammy and the stock could not withstand the shock. But most importantly they served up a disappointing forecast. In this case, management failed to wow Wall Street with big beats. Most often this is due to unrealistic expectations rather than bad results. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |