Rapid7 (NASDAQ:RPD) Price Target Raised to $19.00

Rapid7 (NASDAQ:RPD – Get Free Report) had its price objective increased by research analysts at UBS Group from $12.00 to $19.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. UBS Group‘s price objective indicates a potential upside of 23.06% from the company’s current price.

A number of other equities analysts have also recently issued reports on RPD. Citigroup upped their price objective on Rapid7 from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday. Scotiabank upped their price target on Rapid7 from $10.15 to $14.50 and gave the company a “sector perform” rating in a research report on Thursday. Stifel Nicolaus raised their price objective on shares of Rapid7 from $7.00 to $13.00 and gave the stock a “hold” rating in a report on Tuesday, August 11th. DA Davidson increased their price target on shares of Rapid7 from $5.25 to $9.00 and gave the stock an “underperform” rating in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. downgraded Rapid7 from a “neutral” rating to an “underweight” rating and set a $12.00 target price on the stock. in a report on Tuesday, September 15th. One research analyst has rated the stock with a Buy rating, seventeen have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $13.92.

Check Out Our Latest Report on RPD

Rapid7 Price Performance

NASDAQ:RPD traded up $0.40 during mid-day trading on Thursday, hitting $15.44. 2,935,920 shares of the stock traded hands, compared to its average volume of 2,103,889. The company has a market cap of $1.04 billion, a PE ratio of 49.81 and a beta of 0.90. Rapid7 has a 12-month low of $4.97 and a 12-month high of $18.56. The business’s 50-day moving average price is $13.07 and its 200 day moving average price is $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.

Rapid7 (NASDAQ:RPD – Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. Rapid7 had a return on equity of 27.89% and a net margin of 2.35%. The company had revenue of $212.40 million for the quarter, compared to the consensus estimate of $209.05 million. During the same quarter last year, the business posted $0.57 earnings per share. The firm’s revenue was down 2.5% compared to the same quarter last year. On average, analysts expect that Rapid7 will post 0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RPD. Integrated Wealth Concepts LLC bought a new stake in Rapid7 during the second quarter valued at about $38,000. Allworth Financial LP bought a new stake in shares of Rapid7 during the second quarter valued at approximately $42,000. Pinnacle Wealth Planning Services Inc. lifted its position in shares of Rapid7 by 34.5% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 5,752 shares of the technology company’s stock worth $70,000 after buying an additional 1,475 shares in the last quarter. GAMMA Investing LLC lifted its position in Rapid7 by 20.6% during the second quarter. GAMMA Investing LLC now owns 5,866 shares of the technology company’s stock valued at $48,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in Rapid7 by 108.8% during the first quarter. Parallel Advisors LLC now owns 6,340 shares of the technology company’s stock valued at $35,000 after purchasing an additional 3,304 shares during the period. 95.66% of the stock is currently owned by institutional investors.

Key Rapid7 News

Here are the key news stories impacting Rapid7 this week:

  • Positive Sentiment: Rapid7 reported Q3 adjusted EPS of $0.60, topping the roughly $0.45–$0.46 consensus, and revenue of $212.4 million, above expectations of $209.05 million. The earnings and sales beats likely supported investor sentiment. Rapid7 Q3 earnings and revenues top estimates
  • Positive Sentiment: Piper Sandler raised its price target to $20 from $12, leaving substantial potential upside at its new target, although it kept a neutral rating. Piper Sandler recommendations
  • Neutral Sentiment: Several other firms also lifted targets: Citi and RBC to $16, Truist to $15, and Scotiabank to $14.50. Their neutral, sector-perform, or hold ratings suggest analysts see the improved results but remain measured about the outlook. Truist raises Rapid7 price target
  • Negative Sentiment: Revenue fell 2.5% from a year earlier, tempering the strong quarterly beat. Barclays maintained an underweight rating with a $14 target, and Scotiabank’s $14.50 target is also below the recent share price, reflecting valuation or growth concerns. Barclays recommendations

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.

See Also

Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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