Rapid7 (NASDAQ:RPD) Stock Price Target Raised at Piper Sandler

Rapid7 (NASDAQ:RPD) had its price objective hoisted by Piper Sandler from $12.00 to $20.00 in a research note released on Thursday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the technology company’s stock.

A number of other analysts have also issued reports on RPD. Barclays lifted their price target on shares of Rapid7 from $6.50 to $12.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 11th. Mizuho increased their price objective on shares of Rapid7 from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, October 15th. Citigroup reissued a “neutral” rating on shares of Rapid7 in a report on Wednesday, August 12th. Wall Street Zen raised shares of Rapid7 from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. Finally, Morgan Stanley lowered shares of Rapid7 from an “equal weight” rating to an “underweight” rating and set a $9.00 target price on the stock. in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, Rapid7 presently has a consensus rating of “Reduce” and an average price target of $13.92.

Rapid7 Stock Performance

Rapid7 stock opened at $15.44 on Thursday. Rapid7 has a 12-month low of $4.97 and a 12-month high of $18.56. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 73.53 and a beta of 0.90. The firm’s fifty day moving average price is $13.14 and its 200 day moving average price is $9.56.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Wednesday, November 4th. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $212.40 million during the quarter, compared to analysts’ expectations of $209.05 million. Rapid7 had a net margin of 1.63% and a return on equity of 30.84%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 EPS. On average, research analysts forecast that Rapid7 will post 0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in Rapid7 by 20.6% in the second quarter. GAMMA Investing LLC now owns 5,866 shares of the technology company’s stock worth $48,000 after buying an additional 1,000 shares during the period. Versant Capital Management Inc lifted its stake in Rapid7 by 13.4% in the second quarter. Versant Capital Management Inc now owns 10,469 shares of the technology company’s stock valued at $85,000 after buying an additional 1,238 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in Rapid7 by 34.5% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 5,752 shares of the technology company’s stock valued at $70,000 after buying an additional 1,475 shares during the last quarter. Parallel Advisors LLC lifted its stake in Rapid7 by 108.8% in the first quarter. Parallel Advisors LLC now owns 6,340 shares of the technology company’s stock valued at $35,000 after buying an additional 3,304 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Rapid7 by 511.3% during the second quarter. Allworth Financial LP now owns 5,245 shares of the technology company’s stock valued at $42,000 after acquiring an additional 4,387 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Rapid7 News Roundup

Here are the key news stories impacting Rapid7 this week:

• Positive Sentiment: Rapid7 reported Q3 adjusted EPS of $0.60, topping the roughly $0.45–$0.46 consensus, and revenue of $212.4 million, above expectations of $209.05 million. The earnings and sales beats likely supported investor sentiment. Rapid7 Q3 earnings and revenues top estimates
• Positive Sentiment: Piper Sandler raised its price target to $20 from $12, leaving substantial potential upside at its new target, although it kept a neutral rating. Piper Sandler recommendations
• Neutral Sentiment: Several other firms also lifted targets: Citi and RBC to $16, Truist to $15, and Scotiabank to $14.50. Their neutral, sector-perform, or hold ratings suggest analysts see the improved results but remain measured about the outlook. Truist raises Rapid7 price target
• Negative Sentiment: Revenue fell 2.5% from a year earlier, tempering the strong quarterly beat. Barclays maintained an underweight rating with a $14 target, and Scotiabank’s $14.50 target is also below the recent share price, reflecting valuation or growth concerns. Barclays recommendations

Rapid7 Company Profile

Rapid7, Inc (NASDAQ:RPD) is a cybersecurity company that provides technology and services to help organizations identify, assess and manage security risk across their IT environments. Its offerings are designed to support security operations, vulnerability management, cloud security, application security and incident response.

The company’s product portfolio includes the Insight platform and solutions such as InsightVM for vulnerability risk management, InsightIDR for security detection and response, InsightCloudSec for cloud security and compliance, and InsightAppSec for application security testing.