Brokerages Set Rapid7, Inc. (NASDAQ:RPD) Target Price at $46.13

Shares of Rapid7, Inc. (NASDAQ:RPD) have received a consensus rating of “Hold” from the twenty analysts that are presently covering the firm, Marketbeat reports. Thirteen equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $46.35.

Several equities research analysts have weighed in on the company. Piper Sandler reduced their price objective on Rapid7 from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Baird R W downgraded Rapid7 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Jefferies Financial Group started coverage on Rapid7 in a research report on Wednesday. They issued a “buy” rating and a $50.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on shares of Rapid7 from $46.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Scotiabank reduced 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 note on Wednesday, August 7th.

Insiders Place Their Bets

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $40.00, for a total value of $146,520.00. Following the completion of the sale, the director now directly owns 17,460 shares in the company, valued at approximately $698,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rapid7

Large investors have recently modified their holdings of the business. Quest Partners LLC purchased a new position in Rapid7 during the second quarter valued at approximately $35,000. Fidelis Capital Partners LLC purchased a new position in shares of Rapid7 in the 1st quarter valued at $36,000. Mather Group LLC. purchased a new stake in shares of Rapid7 during the 1st quarter worth $42,000. Summit Securities Group LLC purchased a new stake in shares of Rapid7 during the 2nd quarter worth $43,000. Finally, Financial Connections Group Inc. bought a new stake in Rapid7 during the second quarter valued at about $72,000. Institutional investors own 95.66% of the company’s stock.

Rapid7 Stock Performance

NASDAQ RPD opened at $40.19 on Friday. The stock has a 50 day moving average price of $37.17 and a 200-day moving average price of $39.57. Rapid7 has a one year low of $32.94 and a one year high of $61.88. The company has a market capitalization of $2.52 billion, a P/E ratio of -47.85 and a beta of 0.97.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $207.99 million for the quarter, compared to the consensus estimate of $204.04 million. During the same quarter in the prior year, the firm earned ($0.33) earnings per share. Rapid7’s revenue was up 9.2% on a year-over-year basis. As a group, equities analysts predict that Rapid7 will post 0.8 EPS for the current fiscal 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.