Brokerages Set Rapid7, Inc. (NASDAQ:RPD) Price Target at $46.75

Rapid7, Inc. (NASDAQ:RPD) has been given a consensus rating of “Hold” by the nineteen brokerages that are currently covering the stock, MarketBeat reports. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $46.13.

A number of brokerages recently commented on RPD. Robert W. Baird downgraded Rapid7 from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $56.00 to $45.00 in a report on Thursday, August 1st. Piper Sandler reduced their target price on Rapid7 from $45.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price target on shares of Rapid7 from $46.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Royal Bank of Canada cut shares of Rapid7 from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $50.00 to $40.00 in a report on Friday. Finally, Scotiabank decreased their price objective on shares of Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th.

Rapid7 Trading Up 2.5 %

NASDAQ RPD opened at $35.20 on Monday. The stock has a market cap of $2.19 billion, a P/E ratio of -17.17 and a beta of 0.96. The company’s fifty day simple moving average is $37.02 and its 200-day simple moving average is $41.06. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.88.

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, topping the consensus estimate of $0.52 by $0.06. The firm had revenue of $207.99 million for the quarter, compared to the consensus estimate of $204.04 million. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.33) EPS. On average, research analysts expect that Rapid7 will post 0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Rapid7

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fidelis Capital Partners LLC bought a new position in Rapid7 during the 1st quarter worth $36,000. Quest Partners LLC bought a new position in Rapid7 during the 2nd quarter worth $35,000. Mather Group LLC. bought a new position in Rapid7 during the 1st quarter worth $42,000. Summit Securities Group LLC bought a new position in Rapid7 during the 2nd quarter worth $43,000. Finally, Financial Connections Group Inc. bought a new position in Rapid7 during the 2nd quarter worth $72,000. 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.