Why Rocket Lab Stock Jumped 46% in the First Half of 2026 and Why It Could Rocket Even Higher

Rocket Lab (RKLB) surged 46% in the first half of 2026, crushing the S&P 500's 10% gain over the same period. The rally was fueled by record quarterly results showing revenue growth between 36% and 63% year-over-year, a $2.2 billion backlog that jumped 106% year-over-year, and 70 contracted missions in the pipeline.

The company's $8 billion acquisition of Iridium marks a strategic shift toward becoming an end-to-end space operations provider, expanding beyond its launch services roots. The deal positions RKLB to capture more value across the satellite ecosystem.

Wall Street remains bullish on the name, with 81% of analysts rating it buy or strong buy. The average price target sits at $117, implying 61% upside from current levels. The momentum reflects growing confidence in RKLB's ability to scale operations and convert its pipeline into revenue as demand for commercial space services accelerates.