Rapid7 (NASDAQ:RPD) Price Target Raised to $42.00

Rapid7 (NASDAQ:RPD) had its price target hoisted by Scotiabank from $39.00 to $42.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a sector perform rating on the technology company’s stock.

Several other research firms have also issued reports on RPD. Truist Financial dropped their price target on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, November 7th. StockNews.com upgraded Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Citigroup dropped their price objective on Rapid7 from $50.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Piper Sandler lowered their target price on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Finally, DA Davidson lifted their price target on shares of Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Fifteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $43.76.

Rapid7 Stock Down 1.0 %

RPD stock opened at $38.90 on Tuesday. Rapid7 has a twelve month low of $32.94 and a twelve month high of $61.88. The company has a market cap of $2.46 billion, a PE ratio of 61.75 and a beta of 0.96. The business’s 50-day simple moving average is $40.54 and its 200 day simple moving average is $39.03.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. The business had revenue of $214.65 million for the quarter, compared to analysts’ expectations of $210.04 million. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. Rapid7’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.11 earnings per share. On average, equities research analysts anticipate that Rapid7 will post 0.98 EPS for the current year.

Insider Transactions at Rapid7

In other news, CEO Corey E. Thomas sold 100,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total value of $3,938,000.00. Following the transaction, the chief executive officer now directly owns 431,469 shares in the company, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rapid7

Several hedge funds have recently added to or reduced their stakes in RPD. International Assets Investment Management LLC increased its stake in shares of Rapid7 by 3,888.2% in the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after acquiring an additional 661 shares during the last quarter. Pacer Advisors Inc. increased its stake in Rapid7 by 30.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after purchasing an additional 347 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Rapid7 in the third quarter worth $69,000. Point72 Hong Kong Ltd boosted its position in shares of Rapid7 by 315.0% during the second quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company’s stock worth $90,000 after purchasing an additional 1,575 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Rapid7 by 47.7% in the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock valued at $108,000 after buying an additional 867 shares during the period. 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.