JPMorgan Chase & Co. Increases Rapid7 (NASDAQ:RPD) Price Target to $42.00

Rapid7 (NASDAQ:RPD) had its price objective raised by stock analysts at JPMorgan Chase & Co. from $40.00 to $42.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 0.50% from the company’s previous close.

A number of other brokerages have also weighed in on RPD. Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and cut their target price for the company from $52.00 to $43.00 in a research note on Wednesday, August 7th. UBS Group cut their target price on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday. Piper Sandler lowered their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday. Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and lowered their price target for the company from $52.00 to $43.00 in a research report on Wednesday, August 7th. Finally, Scotiabank lowered their price target on shares of Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Fourteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Rapid7 presently has a consensus rating of “Hold” and a consensus target price of $44.94.

Rapid7 Price Performance

RPD traded up $0.19 during trading on Thursday, hitting $41.79. 576,472 shares of the stock traded hands, compared to its average volume of 845,063. The firm has a 50-day moving average of $37.90 and a 200 day moving average of $38.77. Rapid7 has a 12-month low of $32.94 and a 12-month high of $61.88. The firm has a market capitalization of $2.62 billion, a P/E ratio of -49.77 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, beating analysts’ consensus estimates of $0.52 by $0.06. The firm had revenue of $207.99 million for the quarter, compared to analyst estimates of $204.04 million. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.33) EPS. As a group, equities analysts predict that Rapid7 will post 0.8 EPS for the current fiscal year.

Insider Activity

In other news, Director Reeny Sondhi sold 3,663 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $40.00, for a total transaction of $146,520.00. Following the completion of the transaction, the director now directly owns 17,460 shares of the company’s stock, valued at $698,400. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Rapid7

Several large investors have recently added to or reduced their stakes in the business. Comerica Bank grew its position in Rapid7 by 1.1% during 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 boosted 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 purchasing an additional 346 shares during the period. 1620 Investment Advisors Inc. boosted its position in shares of Rapid7 by 14.5% in the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock worth $111,000 after purchasing an additional 352 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in shares of Rapid7 by 10.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company’s stock worth $185,000 after purchasing an additional 400 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of Rapid7 by 2.8% in the second quarter. Arizona State Retirement System now owns 17,352 shares of the technology company’s stock worth $750,000 after purchasing an additional 465 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.