Rapid7, Inc. (NASDAQ:RPD) Receives $46.75 Average PT from Analysts

Shares of Rapid7, Inc. (NASDAQ:RPD) have been given an average recommendation of “Hold” by the nineteen research firms that are presently covering the company, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $46.75.

A number of research firms have recently weighed in on RPD. JPMorgan Chase & Co. cut their price target on Rapid7 from $46.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Canaccord Genuity Group upgraded shares of Rapid7 from a “hold” rating to a “buy” rating and reduced their target price for the company from $52.00 to $43.00 in a report on Wednesday, August 7th. Baird R W cut shares of Rapid7 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Susquehanna cut their price objective on shares of Rapid7 from $55.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Finally, Scotiabank decreased their target price on shares of Rapid7 from $45.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th.

Rapid7 Stock Up 3.8 %

NASDAQ:RPD opened at $38.49 on Thursday. The company has a market capitalization of $2.41 billion, a PE ratio of -18.78 and a beta of 0.98. Rapid7 has a 52-week low of $32.94 and a 52-week high of $61.88. The stock’s 50 day moving average price is $38.75 and its 200 day moving average price is $44.29.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The business 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 period last year, the firm posted ($0.33) earnings per share. As a group, sell-side analysts anticipate that Rapid7 will post 0.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RPD. Quest Partners LLC acquired a new stake in shares of Rapid7 in the second quarter valued at about $35,000. Fidelis Capital Partners LLC purchased a new position in Rapid7 in the 1st quarter worth approximately $36,000. Mather Group LLC. acquired a new stake in Rapid7 in the first quarter valued at approximately $42,000. Summit Securities Group LLC purchased a new stake in shares of Rapid7 during the second quarter valued at approximately $43,000. Finally, International Assets Investment Management LLC lifted its position in shares of Rapid7 by 3,367.9% during the fourth quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock worth $55,000 after purchasing an additional 943 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

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.