Rocket Lab Stock Is Up 30% Today: Is It Outperforming Other Space Stocks Like Intuitive Machines and Planet Labs?
© Courtesy of Intuitive Machines
Shares of Rocket Lab (NASDAQ:RKLB | RKLB Price Prediction) are up roughly 30% intraday on Friday afternoon, trading near $102 after a record-breaking Q1 FY2026 earnings report released after the close on May 7. The move pushes RKLB stock to its highest level of 2026 and sets off broad enthusiasm across the small group of pure-play space names.
Rocket Lab stock’s surge is the standout of the session, but it’s not alone. Intuitive Machines (NASDAQ:LUNR) stock is up 21% and Planet Labs (NYSE:PL) stock is up 10% alongside it, pointing to sector-wide buying on top of the company-specific earnings catalyst.
So, is Rocket Lab actually outperforming its peers? Today, the answer is yes. Stretch the lens out, however, and the answer flips, which is what makes this comparison worth a closer look.
Record Q1 Earnings Power the Rally
Rocket Lab posted Q1 FY2026 revenue of $200.35 million, up 64% year over year (YoY) and beating consensus by 6%. Adjusted EPS of -$0.07 also landed ahead of the -$0.08 estimate, while non-GAAP gross margin expanded to 43% from 33% a year ago.
Meanwhile, Rocket Lab’s backlog climbed to $2.2 billion, up 20% sequentially, on 31 new Electron and HASTE contracts plus 5 dedicated Neutron missions signed in the quarter alone. The company also flagged its selection for the Department of War’s Space Based Interceptor program under Golden Dome for America with Raytheon, a meaningful national security win.
CEO Peter Beck stated that “Rocket Lab has delivered another exceptional quarter with record financial performance of more than $200 million in revenue” and noted that the company has “access to more than $2 billion in liquidity, putting us in a very strong position for continued growth and M&A execution.” Rocket Lab’s Q2 2026 revenue guidance of $225 million to $240 million further fueled the bid.
How RKLB Stacks Up Against LUNR and PL
Intuitive Machines is riding the same wave, with LUNR stock at roughly $29.03. The lunar lander specialist has its own tailwinds, including a closed Lanteris Space Systems acquisition and 2026 revenue guidance of $900 million to $1 billion. On a year-to-date (YTD) basis, Intuitive Machines stock is up 79%, well ahead of Rocket Lab stock’s 46% YTD gain.
Planet Labs stock is the quieter mover today, but it has been the clear YTD leader of the trio. PL stock is up 97% in 2026 so far and an eye-popping 975% over the past year, as its Earth observation data business benefits from defense and government demand. Rocket Lab, despite today’s surge, still trails Planet Labs on both YTD and one-year horizons.
The three operate in different lanes within the space economy. Rocket Lab provides launch services and integrated space systems, Intuitive Machines targets lunar infrastructure, and Planet Labs runs an Earth-imaging data and analytics platform. They tend to trade together on sector sentiment, even when individual catalysts diverge.
What to Watch Next
The Polymarket traders are pricing in a 100% probability that RKLB closes higher today, with 91% odds Rocket Lab stock hits $104 sometime in May. Reddit sentiment for RKLB peaked at 88 (Very Bullish) by midday, driven by an r/WallStreetBets post titled “Rocket lab reports strongest quarter in its history” that gathered hundreds of upvotes overnight.
The bear case for Rocket Lab stock deserves a footnote. CEO Peter Beck, CFO Adam Spice, and other Rocket Lab executives disposed of large blocks of stock in early March at prices in the $66 to $75 range, with no open-market buying since. Capital intensity, ATM dilution, and Neutron execution risk all remain part of the longer-term debate.
So, Rocket Lab stock is outperforming Intuitive Machines and Planet Labs today. Across 2026 so far, however, Planet Labs and Intuitive Machines remain ahead, and prudent investors comparing these names should weigh business models and time frames before drawing conclusions. The next anticipated major Rocket Lab catalyst is the Neutron debut launch later in 2026, with traders keeping an eye on the stock to see whether today’s gains hold into the close.
