30 Stocks That Should Double in 3 Years

23. Rocket Lab USA Inc. (NASDAQ:RKLB)

Number of Hedge Fund Holders: 37

Rocket Lab USA Inc. (NASDAQ:RKLB) is a space company that provides space systems solutions in the US, Canada, Japan, and internationally. It provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions.

In Q4 2024, Rocket Lab’s Space Systems segment delivered $90 million in revenue, which was up ~7% sequentially. For the full year 2024, the Space Systems segment made $310.8 million in revenue, which was up 80% year-over-year. On April 8, Wells Fargo reiterated an Equal Weight on the stock on April 8, while lowering the $21 price target to $18.

Rocket Lab USA Inc. (NASDAQ:RKLB) has many spacecraft in different stages of production. In March, the company was included in the Phase 3, Lane 1 of the National Security Space Launch program by the US Space Force. It could win $5.6 billion worth of contracts from Space Force. This inclusion shows Rocket Lab’s ability to launch the kind of spacecraft that the government plans to launch over the next 5 years.

ClearBridge Small Cap Growth Strategy stated the following regarding Rocket Lab USA, Inc. (NASDAQ:RKLB) in its Q1 2025 investor letter:

“We continued to generate a number of compelling new ideas, adding five new investments that we still held at quarter end: Glaukos, Rocket Lab USA, Inc. (NASDAQ:RKLB), Karman Holdings (through its IPO), Archrock, Hims & Hers and Geron.

Rocket Lab USA is a manufacturer of spacecraft and satellite components as well as a service provider for satellite launch services, primarily focused today on smaller payloads. With an innovative founder-led management team competing in an enormous market with significant growth in commercial, government and classified applications, we see significant growth potential.”