Rapid7, Inc. (NASDAQ:RPD) Receives $43.71 Consensus Target Price from Analysts

Shares of Rapid7, Inc. (NASDAQ:RPD) have received a consensus recommendation of “Hold” from the twenty brokerages that are covering the firm, Marketbeat reports. Fifteen investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $43.76.

A number of analysts have commented on the stock. UBS Group lowered their target price on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Piper Sandler decreased their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Scotiabank boosted their price target on shares of Rapid7 from $39.00 to $42.00 and gave the company a “sector perform” rating in a report on Tuesday. Stifel Nicolaus reissued a “hold” rating and issued a $42.00 price target (down previously from $48.00) on shares of Rapid7 in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Rapid7 from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, November 7th.

Rapid7 Stock Performance

RPD opened at $39.54 on Friday. The company has a fifty day moving average price of $40.62 and a two-hundred day moving average price of $39.03. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.88. The firm has a market capitalization of $2.50 billion, a PE ratio of 62.76 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last released its earnings results on Wednesday, November 6th. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. The firm had revenue of $214.65 million during the quarter, compared to analyst estimates of $210.04 million. During the same quarter in the previous year, the business earned $0.11 EPS. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. Equities analysts forecast that Rapid7 will post 0.98 EPS for the current year.

Institutional Investors Weigh In On Rapid7

Several institutional investors and hedge funds have recently added to or reduced their stakes in RPD. Hsbc Holdings PLC lifted its position in Rapid7 by 227.2% during the 2nd quarter. Hsbc Holdings PLC now owns 34,580 shares of the technology company’s stock worth $1,518,000 after buying an additional 24,012 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Rapid7 by 10.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company’s stock valued at $185,000 after purchasing an additional 400 shares during the period. Lombard Odier Asset Management USA Corp bought a new stake in shares of Rapid7 in the 2nd quarter valued at about $348,000. P Schoenfeld Asset Management LP bought a new stake in shares of Rapid7 in the 2nd quarter valued at about $4,323,000. Finally, Marshall Wace LLP raised its holdings in shares of Rapid7 by 378.0% in the 2nd quarter. Marshall Wace LLP now owns 68,354 shares of the technology company’s stock valued at $2,955,000 after purchasing an additional 54,054 shares during the period. 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.