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

Rapid7, Inc. (NASDAQ:RPD) has been given a consensus rating of “Hold” by the twenty brokerages that are covering the stock, MarketBeat Ratings reports. Fourteen analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $44.59.

A number of analysts have recently weighed in on the stock. Royal Bank of Canada lowered shares of Rapid7 from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $50.00 to $40.00 in a research note on Friday, September 20th. Truist Financial decreased their price objective on Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on Rapid7 from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Jefferies Financial Group began coverage on Rapid7 in a research report on Wednesday, October 16th. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, StockNews.com raised shares of Rapid7 from a “hold” rating to a “buy” rating in a report on Friday, December 6th.

Rapid7 Trading Down 0.3 %

NASDAQ:RPD opened at $40.19 on Wednesday. The company has a market capitalization of $2.54 billion, a P/E 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. The firm has a fifty day simple moving average of $40.86 and a 200-day simple moving average of $39.04.

Rapid7 (NASDAQ:RPD) last issued its quarterly 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 negative return on equity of 128.95% and a net margin of 5.65%. The company had revenue of $214.65 million during the quarter, compared to analysts’ expectations of $210.04 million. During the same quarter in the previous year, the firm posted $0.11 EPS. The firm’s 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.

Hedge Funds Weigh In On Rapid7

Several hedge funds and other institutional investors have recently modified their holdings of RPD. International Assets Investment Management LLC raised its holdings in Rapid7 by 3,888.2% in the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $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 valued at approximately $35,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Rapid7 in the third quarter valued at approximately $69,000. Point72 Hong Kong Ltd lifted its position in Rapid7 by 315.0% during the second quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company’s stock worth $90,000 after buying an additional 1,575 shares in the last quarter. Finally, 1620 Investment Advisors Inc. boosted its stake in Rapid7 by 14.5% during the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock worth $111,000 after buying an additional 352 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other 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.