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

Rapid7, Inc. (NASDAQ:RPD) has been given an average recommendation of “Hold” by the nineteen ratings firms that are presently covering the company, Marketbeat.com reports. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $46.13.

Several research firms have weighed in on RPD. Royal Bank of Canada downgraded Rapid7 from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $50.00 to $40.00 in a research report on Friday. Robert W. Baird downgraded shares of Rapid7 from an “outperform” rating to a “neutral” rating and cut their target price for the company from $56.00 to $45.00 in a research note on Thursday, August 1st. Scotiabank decreased their price target on shares of Rapid7 from $45.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. UBS Group lowered their price target on shares of Rapid7 from $65.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Baird R W downgraded shares of Rapid7 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st.

Hedge Funds Weigh In On Rapid7

Several hedge funds and other institutional investors have recently modified their holdings of the company. Comerica Bank raised its holdings in Rapid7 by 1.1% in the first quarter. Comerica Bank now owns 25,356 shares of the technology company’s stock valued at $1,243,000 after buying an additional 281 shares during the period. Virtu Financial LLC increased its position in shares of Rapid7 by 7.1% in the first quarter. Virtu Financial LLC now owns 5,198 shares of the technology company’s stock worth $255,000 after acquiring an additional 346 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake 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 acquiring an additional 400 shares during the period. Arizona State Retirement System lifted its holdings in shares of Rapid7 by 2.8% during the 2nd quarter. Arizona State Retirement System now owns 17,352 shares of the technology company’s stock valued at $750,000 after acquiring an additional 465 shares in the last quarter. Finally, 1620 Investment Advisors Inc. boosted its position in Rapid7 by 30.3% during the 2nd quarter. 1620 Investment Advisors Inc. now owns 2,431 shares of the technology company’s stock worth $105,000 after purchasing an additional 565 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

Rapid7 Trading Up 2.5 %

Shares of NASDAQ RPD opened at $35.20 on Monday. The company’s 50-day moving average price is $37.02 and its 200 day moving average price is $41.06. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.88. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -17.17 and a beta of 0.96.

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

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.