Canaccord Genuity Group Cuts Rapid7 (NASDAQ:RPD) Price Target to $7.00

Rapid7 (NASDAQ:RPD) had its price objective decreased by Canaccord Genuity Group from $10.00 to $7.00 in a report published on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the technology company’s stock.

RPD has been the subject of a number of other research reports. Susquehanna set a $8.00 price objective on shares of Rapid7 in a research report on Thursday, February 12th. Jefferies Financial Group set a $9.00 price target on shares of Rapid7 in a research report on Wednesday, February 11th. Barclays decreased their price target on shares of Rapid7 from $15.00 to $8.00 and set an “underweight” rating for the company in a research report on Thursday, February 12th. Scotiabank decreased their price target on shares of Rapid7 from $9.00 to $7.00 and set a “sector perform” rating for the company in a research report on Wednesday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Rapid7 in a research report on Friday, March 27th. Two analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $9.39.

Rapid7 Stock Up 2.8%

Shares of NASDAQ RPD opened at $6.90 on Wednesday. The company has a 50 day simple moving average of $6.05 and a 200-day simple moving average of $11.16. The company has a market capitalization of $461.13 million, a P/E ratio of 19.71 and a beta of 0.89. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.78 and a quick ratio of 1.28. Rapid7 has a 1 year low of $4.97 and a 1 year high of $27.10.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06. The business had revenue of $209.69 million during the quarter, compared to the consensus estimate of $207.94 million. Rapid7 had a net margin of 2.61% and a return on equity of 34.35%. The business’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 EPS. Rapid7 has set its FY 2026 guidance at 1.520-1.600 EPS and its Q2 2026 guidance at 0.330-0.360 EPS. On average, equities research analysts predict that Rapid7 will post 0.55 earnings per share for the current year.

Hedge Funds Weigh In On Rapid7

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Rapid7 by 7.6% during the 4th quarter. Vanguard Group Inc. now owns 9,273,763 shares of the technology company’s stock worth $140,961,000 after buying an additional 653,498 shares during the last quarter. JANA Partners Management LP increased its holdings in shares of Rapid7 by 13.5% in the 3rd quarter. JANA Partners Management LP now owns 6,502,108 shares of the technology company’s stock valued at $121,915,000 after acquiring an additional 772,194 shares during the last quarter. First Trust Advisors LP raised its position in shares of Rapid7 by 48.3% during the 4th quarter. First Trust Advisors LP now owns 2,326,056 shares of the technology company’s stock worth $35,356,000 after acquiring an additional 758,009 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Rapid7 by 1.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,170,876 shares of the technology company’s stock worth $40,716,000 after purchasing an additional 34,438 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Rapid7 by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 1,462,653 shares of the technology company’s stock worth $22,236,000 after purchasing an additional 78,448 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

About Rapid7

Rapid7, Inc is a publicly traded cybersecurity company headquartered in Boston, Massachusetts. Since its founding in 2000, the company has specialized in delivering cloud-based security data and analytics solutions designed to help organizations detect, investigate, and remediate cyber threats. Rapid7 operates under the NASDAQ symbol “RPD” and serves a broad range of industries, including technology, financial services, healthcare, retail, and the public sector.

The core of Rapid7’s offering is its Insight platform, a unified, cloud-native security operations and analytics suite.