Barclays Issues Positive Forecast for Rapid7 (NASDAQ:RPD) Stock Price

Rapid7 (NASDAQ:RPD – Get Free Report) had its price objective boosted by equities research analysts at Barclays from $12.00 to $14.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “underweight” rating on the technology company’s stock. Barclays‘s price target points to a potential downside of 11.09% from the stock’s previous close.

Several other research analysts also recently weighed in on RPD. JPMorgan Chase & Co. downgraded shares of Rapid7 from a “neutral” rating to an “underweight” rating and set a $12.00 target price for the company. in a report on Tuesday, September 15th. Susquehanna boosted their price objective on Rapid7 from $7.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, August 12th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $12.00 price objective on shares of Rapid7 in a research note on Tuesday, August 11th. Truist Financial reiterated a “hold” rating and set a $15.00 target price (up from $10.00) on shares of Rapid7 in a research report on Thursday. Finally, Robert W. Baird lifted their target price on Rapid7 from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $12.88.

Read Our Latest Report on Rapid7

Rapid7 Stock Performance

Shares of NASDAQ RPD traded up $0.71 during trading on Thursday, reaching $15.75. 1,850,398 shares of the company traded hands, compared to its average volume of 2,098,511. The firm has a 50 day simple moving average of $13.07 and a 200-day simple moving average of $9.55. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $1.06 billion, a PE ratio of 50.44 and a beta of 0.90. Rapid7 has a 52-week low of $4.97 and a 52-week high of $18.56.

Rapid7 (NASDAQ:RPD – Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. The firm had revenue of $212.40 million during the quarter, compared to analysts’ expectations of $209.05 million. Rapid7 had a net margin of 2.35% and a return on equity of 27.89%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 earnings per share. Equities research analysts anticipate that Rapid7 will post 0.76 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RPD. Integrated Wealth Concepts LLC bought a new stake in shares of Rapid7 in the second quarter worth about $38,000. Allworth Financial LP bought a new position in Rapid7 during the second quarter valued at approximately $42,000. Pinnacle Wealth Planning Services Inc. boosted its stake in Rapid7 by 34.5% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 5,752 shares of the technology company’s stock valued at $70,000 after buying an additional 1,475 shares during the last quarter. GAMMA Investing LLC grew its holdings in Rapid7 by 20.6% during the 2nd quarter. GAMMA Investing LLC now owns 5,866 shares of the technology company’s stock valued at $48,000 after buying an additional 1,000 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in Rapid7 by 108.8% during the 1st quarter. Parallel Advisors LLC now owns 6,340 shares of the technology company’s stock valued at $35,000 after buying an additional 3,304 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

More Rapid7 News

Here are the key news stories impacting Rapid7 this week:

  • Positive Sentiment: Rapid7 reported adjusted earnings of $0.60 per share, above analyst estimates of roughly $0.45–$0.46, while revenue of $212.4 million also exceeded expectations of $209.05 million. The earnings and sales beat helped lift investor sentiment. Rapid7 third-quarter results
  • Positive Sentiment: Piper Sandler raised its price target to $20 from $12, implying upside from the current share price, although it maintained a neutral rating. Piper Sandler rating information
  • Neutral Sentiment: Truist raised its target to $15 from $10 but reaffirmed its hold rating; the new target is below the cited current share price. Truist rating coverage
  • Negative Sentiment: Despite beating estimates, quarterly revenue fell 2.5% year over year. Rapid7 expects fourth-quarter adjusted EPS of $0.53–$0.55, offering investors a near-term outlook to assess against the recent results. Rapid7 fourth-quarter EPS outlook

Rapid7 Company Profile

(Get Free Report)

Rapid7, Inc (NASDAQ:RPD) is a cybersecurity company that provides technology and services to help organizations identify, assess and manage security risk across their IT environments. Its offerings are designed to support security operations, vulnerability management, cloud security, application security and incident response.

The company’s product portfolio includes the Insight platform and solutions such as InsightVM for vulnerability risk management, InsightIDR for security detection and response, InsightCloudSec for cloud security and compliance, and InsightAppSec for application security testing.

Further Reading

Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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