Brokerages Set Rapid7, Inc. (NASDAQ:RPD) Target Price at $33.32

Rapid7, Inc. (NASDAQ:RPD) has earned an average recommendation of “Hold” from the twenty brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $33.32.

RPD has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Rapid7 from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Stephens initiated coverage on Rapid7 in a research note on Tuesday, April 1st. They set an “equal weight” rating and a $33.00 target price for the company. Raymond James Financial lowered their price target on Rapid7 from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Mizuho set a $30.00 price objective on shares of Rapid7 in a report on Wednesday, April 16th. Finally, Piper Sandler dropped their target price on shares of Rapid7 from $35.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th.

Rapid7 Stock Down 1.2%

RPD stock opened at $22.53 on Friday. The company’s 50 day moving average price is $23.66 and its 200 day moving average price is $28.64. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 57.77 and a beta of 1.01. Rapid7 has a fifty-two week low of $21.61 and a fifty-two week high of $44.48. The company has a debt-to-equity ratio of 16.87, a quick ratio of 1.24 and a current ratio of 1.24.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Monday, May 12th. The technology company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12. Rapid7 had a net margin of 3.42% and a return on equity of 2,043.18%. The company had revenue of $210.25 million for the quarter, compared to the consensus estimate of $208.25 million. During the same period in the prior year, the firm posted $0.55 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that Rapid7 will post 0.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Rapid7

Several institutional investors have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS acquired a new stake in Rapid7 during the 4th quarter worth approximately $539,000. Teacher Retirement System of Texas lifted its holdings in shares of Rapid7 by 24.1% during the first quarter. Teacher Retirement System of Texas now owns 54,091 shares of the technology company’s stock worth $1,434,000 after purchasing an additional 10,487 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Rapid7 during the fourth quarter worth $12,050,000. Mirae Asset Global Investments Co. Ltd. grew its position in Rapid7 by 18.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,548 shares of the technology company’s stock valued at $291,000 after buying an additional 1,648 shares during the last quarter. Finally, New York State Teachers Retirement System acquired a new position in Rapid7 in the 1st quarter valued at $29,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.