Rapid7, Inc. (NASDAQ:RPD) Receives $46.75 Consensus Price Target from Analysts

Shares of Rapid7, Inc. (NASDAQ:RPD) have been assigned a consensus rating of “Hold” from the nineteen brokerages that are currently covering the firm, MarketBeat reports. Twelve analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $46.75.

A number of analysts have recently commented on the company. KeyCorp upgraded Rapid7 to a “hold” rating in a research note on Monday, June 17th. Piper Sandler reduced their price target on Rapid7 from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Scotiabank reduced their price target on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Baird R W cut Rapid7 from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Canaccord Genuity Group raised Rapid7 from a “hold” rating to a “buy” rating and reduced their price target for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th.

Rapid7 Trading Down 1.2 %

RPD opened at $33.83 on Monday. Rapid7 has a 12 month low of $32.94 and a 12 month high of $61.88. The stock has a fifty day moving average price of $37.35 and a 200-day moving average price of $41.52. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -16.50 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.06. Rapid7 had a negative return on equity of 67.88% and a negative net margin of 5.64%. The firm had revenue of $207.99 million for the quarter, compared to the consensus estimate of $204.04 million. During the same period in the previous year, the business earned ($0.33) EPS. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, equities research analysts forecast that Rapid7 will post 0.8 EPS for the current year.

Hedge Funds Weigh In On Rapid7

A number of hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. grew its position in shares of 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. First Trust Advisors LP grew its position in shares of Rapid7 by 49.2% in the fourth quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock valued at $194,668,000 after purchasing an additional 1,124,429 shares in the last quarter. Norges Bank purchased a new stake in shares of Rapid7 in the fourth quarter valued at approximately $37,790,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Rapid7 by 46.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,254,323 shares of the technology company’s stock valued at $61,512,000 after purchasing an additional 397,968 shares in the last quarter. Finally, Cannae Holdings Inc. purchased a new stake in shares of Rapid7 in the second quarter valued at approximately $15,130,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.