Rapid7, Inc. (NASDAQ:RPD) Receives $44.59 Consensus Target Price from Brokerages

Shares of Rapid7, Inc. (NASDAQ:RPD) have been given a consensus recommendation of “Hold” by the twenty research firms that are covering the stock, Marketbeat Ratings reports. Fourteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $44.59.

Several research analysts have recently commented on the company. Piper Sandler reduced their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $52.00 to $43.00 in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of Rapid7 from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. UBS Group cut their target price on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Rapid7 in a research note on Wednesday, August 7th.

Rapid7 Trading Down 0.1 %

NASDAQ:RPD opened at $42.55 on Friday. The stock has a market capitalization of $2.69 billion, a PE ratio of 67.62 and a beta of 0.96. Rapid7 has a 1-year low of $32.94 and a 1-year high of $61.88. The firm has a fifty day simple moving average of $40.01 and a 200 day simple moving average of $38.56.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. The company had revenue of $214.65 million during the quarter, compared to the consensus estimate of $210.04 million. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 EPS. On average, equities analysts predict that Rapid7 will post 0.98 earnings per share for the current fiscal year.

Insider Activity at Rapid7

In related news, Director Reeny Sondhi sold 3,663 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $40.00, for a total value of $146,520.00. Following the sale, the director now directly owns 17,460 shares of the company’s stock, valued at $698,400. This trade represents a 17.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Rapid7

Several hedge funds and other institutional investors have recently made changes to their positions in RPD. International Assets Investment Management LLC grew its holdings in Rapid7 by 3,888.2% during the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after acquiring an additional 661 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Rapid7 in the second quarter worth approximately $35,000. Summit Securities Group LLC bought a new position in Rapid7 during the 2nd quarter valued at $43,000. RPg Family Wealth Advisory LLC purchased a new position in Rapid7 during the third quarter worth about $69,000. Finally, Financial Connections Group Inc. bought a new position in shares of Rapid7 in the second quarter valued at approximately $72,000. 95.66% of the stock is owned by institutional investors.

Rapid7 Company Profile

Rapid7, Inc provides cybersecurity solutions under the Rapid7, Nexpose, and Metasploit brand names. The company offers endpoint to cloud data collection and sharing applications, such as Rapid7 Insight Agent, a software-based agent that is used on assets across on-premises and cloud environments to centralize and monitor data on company's platform; Rapid7 Insight Network Sensor that analyzes raw end-to-end network traffic to increase visibility into user activity, pinpoint real threats, and investigations; Rapid7 Cloud Event Data Harvesting that offers visibility into changes made to cloud resources; and third-party integrations and ecosystem, as well as orchestration and automation solutions.