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

Rapid7, Inc. (NASDAQ:RPD) has received an average rating of “Hold” from the twenty ratings firms that are presently covering the firm, MarketBeat Ratings reports. Fourteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $44.59.

Several analysts have commented on RPD shares. JPMorgan Chase & Co. lifted their price objective on shares of Rapid7 from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler lowered their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. UBS Group reduced their price objective on Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Royal Bank of Canada downgraded Rapid7 from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $50.00 to $40.00 in a research report on Friday, September 20th. Finally, StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, December 6th.

Insider Activity at Rapid7

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the company’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 transaction, the director now directly owns 17,460 shares in the company, valued at $698,400. This represents a 17.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Rapid7

A number of large investors have recently modified their holdings of the business. Point72 Asset Management L.P. raised its stake in Rapid7 by 252.0% in the second quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock valued at $164,236,000 after purchasing an additional 2,719,791 shares in the last quarter. Cannae Holdings Inc. bought a new position in shares of Rapid7 in the 2nd quarter worth $15,130,000. Invenomic Capital Management LP purchased a new stake in shares of Rapid7 during the 3rd quarter valued at $6,647,000. 272 Capital LP purchased a new stake in shares of Rapid7 during the 2nd quarter valued at $6,979,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Rapid7 during the 2nd quarter worth $6,106,000. Institutional investors own 95.66% of the company’s stock.

Rapid7 Trading Down 0.3 %

Shares of RPD opened at $40.19 on Wednesday. The stock has a 50 day moving average of $40.86 and a 200 day moving average of $39.02. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 63.79 and a beta of 0.95. Rapid7 has a 12 month low of $32.94 and a 12 month high of $61.88.

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

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.