Shares of Rocket Companies Inc ( RKT ) are surging in Friday morning trading after the fintech giant reported second-quarter financial results that surpassed Wall Street expectations and provided a bullish outlook for the upcoming quarter.

What To Know: The Detroit-based company announced its earnings after the market closed on Thursday, posting an adjusted revenue of $1.34 billion, comfortably beating the consensus estimate of $1.28 billion. The company also delivered adjusted earnings per share of 4 cents, exceeding the Street’s expectation of 3 cents.

Operationally, Rocket demonstrated significant momentum. Rocket Mortgage saw its closed loan origination volume climb 18% year-over-year to $29.1 billion. The company ended the quarter in a strong liquidity position with $9.1 billion, including $5.1 billion in cash on the balance sheet.

Fueling further optimism, Rocket guided for third-quarter revenue to be in the range of $1.60 billion to $1.75 billion, well ahead of the analyst consensus of $1.50 billion. CEO Varun Krishna called it a “standout second quarter,” highlighting the successful integration of the recently acquired Redfin as a key driver for future growth.

In response to the strong report and guidance, Barclays analyst Terry Ma reiterated an Equal-Weight rating on RKT shares but raised his price target to $16 from $14.

Benzinga Edge Rankings: According to Benzinga Edge stock rankings, which provide scores to help identify strong and weak stocks, Rocket Companies ( RKT ) shows a mixed technical profile. The stock earns a solid Momentum score of 58.85, reflecting its recent positive price action following the strong earnings report.

However, its Growth score is notably lower at 15.60, suggesting that despite the recent operational gains and strong guidance, broader long-term growth metrics may still be in a recovery phase.

Price Action: According to data from Benzinga Pro, RKT shares are trading higher by 14.6% to $16.93 Friday morning. The stock has a 52-week high of $21.38 and a 52-week low of $10.06.

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How To Buy RKT Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Rocket Companies’ case, it is in the Financials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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