Rapid7, Inc. (NASDAQ:RPD) Receives $51.73 Consensus Price Target from Brokerages

Rapid7, Inc. (NASDAQ:RPD) has earned a consensus rating of “Hold” from the seventeen brokerages that are covering the firm, Marketbeat reports. Eleven equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $51.73.

A number of brokerages recently issued reports on RPD. Truist Financial lowered their price target on shares of Rapid7 from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. Barclays lowered their price target on shares of Rapid7 from $60.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 8th. Citigroup lowered their price target on shares of Rapid7 from $65.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Piper Sandler lowered their price target on shares of Rapid7 from $56.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Finally, KeyCorp raised shares of Rapid7 to a “hold” rating in a research report on Monday, June 17th.

Rapid7 Trading Down 3.3 %

NASDAQ:RPD opened at $39.72 on Wednesday. The company has a 50-day moving average price of $39.18 and a 200-day moving average price of $48.24. Rapid7 has a 12 month low of $35.08 and a 12 month high of $61.88. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -19.38 and a beta of 0.98.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Tuesday, May 7th. The technology company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. Rapid7 had a negative net margin of 15.14% and a negative return on equity of 31.09%. The firm had revenue of $205.10 million during the quarter, compared to analysts’ expectations of $204.10 million. Equities analysts forecast that Rapid7 will post 0.75 EPS for the current fiscal year.

Institutional Trading of Rapid7

Large investors have recently made changes to their positions in the stock. 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. Norges Bank bought a new stake in Rapid7 during the fourth quarter valued at approximately $37,790,000. Mirae Asset Global Investments Co. Ltd. grew its position in Rapid7 by 46.5% during 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 buying an additional 397,968 shares during the period. Wasatch Advisors LP grew its position in Rapid7 by 12.8% during the fourth quarter. Wasatch Advisors LP now owns 1,410,051 shares of the technology company’s stock valued at $80,514,000 after buying an additional 160,531 shares during the period. Finally, Vanguard Group Inc. grew its position in Rapid7 by 2.2% during the third quarter. Vanguard Group Inc. now owns 7,041,011 shares of the technology company’s stock valued at $322,337,000 after buying an additional 148,440 shares during the period. 95.66% of the stock is currently 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.