Rocket Lab Corporation (NASDAQ: RKLB) is experiencing notable momentum in premarket trading on Tuesday, October 21, 2025, opening at $69.18, up $1.83 or 2.72% from the previous close of $67.35. The aerospace company’s stock has been on a remarkable trajectory, with a year-to-date return of 164.43% and a staggering one-year return of 523.03%, significantly outpacing the S&P 500’s gains.
The latest catalyst driving investor enthusiasm is the company’s announcement of its upcoming 74th Electron launch, scheduled for November 5, 2025, which marks the sixth mission for Japanese Earth imaging customer Institute for Q-shu Pioneers of Space, Inc. (iQPS). With a market capitalization of $32.595 billion and analyst price targets ranging from $45 to $83, RKLB continues to capture attention in the competitive space sector despite trading above the average analyst target of $58.67.
Sixth iQPS Mission Highlights Reliability and Growing Partnerships
Rocket Lab’s stock initially rose 2% in after-hours trading on Monday, October 20, following the company’s announcement of “The Nation God Navigates” mission, which will launch from Launch Complex 1 in New Zealand. The mission will deploy the QPS-SAR-14 satellite, nicknamed YACHIHOKO-I after the Japanese god of nation-building, to a 575km circular Earth orbit.
This satellite will join iQPS’s growing constellation designed to provide high-resolution synthetic aperture radar (SAR) images and Earth monitoring services globally, with the ultimate goal of delivering near-real-time images every 10 minutes through a network of 36 SAR satellites.
The momentum continued into Tuesday’s premarket session, with shares climbing to $69.18, representing the stock’s 16th mission of 2025. Rocket Lab has maintained a perfect mission success rate throughout the year, bolstering investor confidence in the company’s operational capabilities. The relationship with iQPS has proven particularly valuable, as Rocket Lab has become the go-to provider for the constellation operator, with previous successful missions including “The Moon God Awakens” in December 2023 and four additional launches throughout 2025.
The contracted pipeline of six more dedicated missions for 2026 and beyond provides visibility into future revenue streams and demonstrates the company’s ability to secure repeat business from satisfied customers.
RKLB’s Growth Premium Raises Questions About Valuation
Despite the impressive gains, RKLB stock faces questions about its valuation. The company currently trades with a Price/Sales ratio of 52.55 and a Price/Book ratio of 36.88, reflecting the premium investors are willing to pay for growth in the space sector.
Rocket Lab remains unprofitable, with a trailing twelve-month EPS of -$0.46, profit margin of -45.87%, and net income of -$231.31 million. However, analysts anticipate positive earnings growth, and the company maintains a strong balance sheet with $688.14 million in total cash and relatively modest debt-to-equity ratio of 72.35%.
Recent analyst activity has been mixed, with KeyBanc maintaining an “Overweight” rating on October 17, 2025, while raising its price target from $50 to $75. However, some analysts caution that the stock may be 37.8% overvalued based on fundamentals, with the current price of $67.35 sitting above the average analyst target of $58.67.
The stock’s high beta of 2.15 indicates significant volatility, and with the 52-week range spanning from $10.29 to $73.97, investors have witnessed dramatic swings. Trading volume on October 20 reached 25.7 million shares, exceeding the average volume of 22.7 million, suggesting heightened interest as the company approaches its earnings date of November 7, 2025.