Analysts Set Rapid7, Inc. (NASDAQ:RPD) Target Price at $46.75

Shares of Rapid7, Inc. (NASDAQ:RPD) have received a consensus recommendation of “Hold” from the nineteen brokerages that are presently covering the firm, Marketbeat.com reports. Twelve investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $46.75.

Several research firms have recently weighed in on RPD. Scotiabank lowered their price objective on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Truist Financial lowered their price objective on Rapid7 from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. Stifel Nicolaus lowered their price objective on Rapid7 from $63.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Canaccord Genuity Group raised Rapid7 from a “hold” rating to a “buy” rating and decreased their target price for the company from $52.00 to $43.00 in a research report on Wednesday, August 7th. Finally, Mizuho decreased their target price on Rapid7 from $62.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th.

Rapid7 Stock Down 2.1 %

Shares of NASDAQ:RPD opened at $37.15 on Thursday. The firm has a market cap of $2.32 billion, a P/E ratio of -18.12 and a beta of 0.98. Rapid7 has a 12-month low of $32.94 and a 12-month high of $61.88. The business has a fifty day simple moving average of $38.83 and a 200 day simple moving average of $43.84.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) 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 business had revenue of $207.99 million during the quarter, compared to analyst estimates of $204.04 million. During the same period last year, the company earned ($0.33) EPS. Rapid7’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, equities research analysts expect that Rapid7 will post 0.8 EPS for the current year.

Institutional Investors Weigh In On Rapid7

A number of institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. grew its stake in Rapid7 by 252.0% in the 2nd 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 during the period. First Trust Advisors LP grew its position in Rapid7 by 49.2% during 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 buying an additional 1,124,429 shares during the period. Wasatch Advisors LP increased its holdings in Rapid7 by 12.8% during the fourth quarter. Wasatch Advisors LP now owns 1,410,051 shares of the technology company’s stock worth $80,514,000 after buying an additional 160,531 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in 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 worth $61,512,000 after acquiring an additional 397,968 shares during the period. Finally, Norges Bank purchased a new position in Rapid7 in the fourth quarter valued at about $37,790,000. 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.