Mizuho Cuts Rapid7 (NASDAQ:RPD) Price Target to $27.00

Rapid7 (NASDAQ:RPD) had its target price reduced by Mizuho from $30.00 to $27.00 in a research note released on Wednesday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Several other equities analysts have also commented on the company. Morgan Stanley boosted their price target on Rapid7 from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 13th. Piper Sandler dropped their price objective on shares of Rapid7 from $35.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Wall Street Zen downgraded shares of Rapid7 from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. DA Davidson reaffirmed an “underperform” rating and set a $21.00 price target (down from $29.00) on shares of Rapid7 in a report on Tuesday, May 13th. Finally, Susquehanna cut their price objective on shares of Rapid7 from $40.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Rapid7 currently has an average rating of “Hold” and a consensus target price of $33.16.

Rapid7 Price Performance

Rapid7 stock opened at $22.31 on Wednesday. The firm has a fifty day moving average of $23.50 and a 200-day moving average of $28.35. Rapid7 has a 52-week low of $21.61 and a 52-week high of $44.48. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 16.87. The firm has a market capitalization of $1.43 billion, a P/E ratio of 57.21 and a beta of 1.01.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Monday, May 12th. The technology company reported $0.49 earnings per share for the quarter, topping 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 firm had revenue of $210.25 million during the quarter, compared to analysts’ expectations of $208.25 million. During the same period in the prior year, the company earned $0.55 EPS. The firm’s revenue was up 2.5% on a year-over-year basis. As a group, analysts predict that Rapid7 will post 0.35 EPS for the current year.

Institutional Investors Weigh In On Rapid7

Institutional investors have recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ lifted its stake in Rapid7 by 68.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock valued at $46,000 after buying an additional 455 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Rapid7 by 1.1% during the first quarter. Principal Financial Group Inc. now owns 54,915 shares of the technology company’s stock worth $1,456,000 after acquiring an additional 609 shares during the last quarter. Y.D. More Investments Ltd increased its holdings in shares of Rapid7 by 12.0% in the 1st quarter. Y.D. More Investments Ltd now owns 5,839 shares of the technology company’s stock worth $171,000 after acquiring an additional 625 shares during the period. Ostrum Asset Management increased its holdings in shares of Rapid7 by 45.3% in the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock worth $100,000 after acquiring an additional 772 shares during the period. Finally, New York State Teachers Retirement System bought a new stake in Rapid7 in the 1st quarter valued at about $29,000. Institutional investors own 95.66% of the company’s stock.

About Rapid7

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.