Jim Cramer’s Latest Lightning Rounds: 15 Stocks to Watch

10. Rocket Companies, Inc. (NYSE:RKT)

Number of Hedge Fund Holders: 21

When Cramer was asked if he could see the stock going to $25 this year, he said, “Absolutely. I think it could do that and it’s a very well-run company.”

Rocket Companies, Inc. (NYSE:RKT) operates as a fintech holding company, specializing in mortgage lending, title and settlement services, and a variety of financial technology solutions in the United States and Canada.

It was established in 1987 and has helped approximately 10 million clients, facilitating the origination of loans totaling around $1.8 trillion. Key offerings include Rocket Mortgage for home financing, Amrock for title insurance, and Rocket Homes, which provides a platform for real estate referrals.

During its Investor Day event in September, Rocket Companies’ (NYSE:RKT) CEO Varun Krishna discussed the significant opportunities within the industry, emphasizing that the company operates in crucial sectors such as mortgage, real estate, and financial services.

He said that homeownership represents a $5 trillion market, with the mortgage sector alone being valued at roughly $2 trillion. Krishna pointed out that only 24% of the total origination market share in the first half of the year was held by the top 10 mortgage lenders, leaving a considerable $1.5 trillion market available for smaller competitors.

From 2010 to the first half of 2024, the company has seen impressive growth in both purchase and refinance shares, with compound annual growth rates of 21% and 14%, respectively.

Krishna outlined ambitious market share growth targets for the next three years, aiming to double Rocket Companies’ (NYSE:RKT) purchase market share from 4% to 8% and increase its refinance market share from 12% to 20% by 2027.