Rapid7 (NASDAQ:RPD) Stock Price Expected to Rise, Piper Sandler Analyst Says

Rapid7 (NASDAQ:RPD) had its price objective upped by stock analysts at Piper Sandler from $12.00 to $20.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Piper Sandler‘s target price suggests a potential upside of 36.24% from the company’s previous close.

Other analysts have also issued research reports about the stock. DA Davidson raised their price target on shares of Rapid7 from $5.25 to $9.00 and gave the company an “underperform” rating in a report on Tuesday, August 11th. UBS Group boosted their price objective on shares of Rapid7 from $7.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Raymond James Financial reiterated an “outperform” rating and issued a $15.00 price objective on shares of Rapid7 in a research report on Tuesday, August 11th. Jefferies Financial Group reissued a “hold” rating and issued a $12.00 target price on shares of Rapid7 in a research note on Tuesday, August 11th. Finally, Robert W. Baird lifted their target price on Rapid7 from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating, seventeen have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $13.97.

Rapid7 Price Performance

NASDAQ:RPD traded down $0.76 during mid-day trading on Thursday, reaching $14.68. 2,032,307 shares of the company were exchanged, compared to its average volume of 2,045,676. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.50. The stock has a market cap of $989.43 million, a PE ratio of 69.91 and a beta of 0.90. Rapid7 has a 12 month low of $4.97 and a 12 month high of $18.56. The company has a fifty day moving average of $13.16 and a 200 day moving average of $9.57.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Wednesday, November 4th. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. Rapid7 had a net margin of 2.35% and a return on equity of 27.89%. The company had revenue of $212.40 million during the quarter, compared to the consensus estimate of $209.05 million. During the same period in the previous year, the firm posted $0.57 earnings per share. The company’s revenue was down 2.5% on a year-over-year basis. On average, research analysts anticipate that Rapid7 will post 0.79 EPS for the current fiscal year.

Institutional Trading of Rapid7

Several hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC bought a new position in Rapid7 during the second quarter worth about $38,000. Allworth Financial LP acquired a new stake in shares of Rapid7 during the second quarter worth about $42,000. Pinnacle Wealth Planning Services Inc. raised its position in shares of Rapid7 by 34.5% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 5,752 shares of the technology company’s stock worth $70,000 after purchasing an additional 1,475 shares during the period. GAMMA Investing LLC raised its position in shares of Rapid7 by 20.6% during the second quarter. GAMMA Investing LLC now owns 5,866 shares of the technology company’s stock worth $48,000 after purchasing an additional 1,000 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in shares of Rapid7 by 108.8% during the 1st quarter. Parallel Advisors LLC now owns 6,340 shares of the technology company’s stock valued at $35,000 after purchasing an additional 3,304 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Key Stories Impacting Rapid7

Here are the key news stories impacting Rapid7 this week:

• Positive Sentiment: Rapid7 reported Q3 earnings of $0.60 per share, above consensus estimates of about $0.45–$0.46, and revenue of $212.4 million, also ahead of expectations. The earnings beat is a positive signal, although revenue was down 2.5% year over year. Rapid7 Q3 earnings
• Positive Sentiment: Several analysts raised their price targets after the results. Piper Sandler lifted its target to $20 and UBS to $19, while Susquehanna and Citigroup raised theirs to $16. These revisions suggest improved potential upside, though the firms kept neutral ratings. Read More., Read More., Read More., Read More.
• Neutral Sentiment: Other target increases were more modest: Truist raised its target to $15 and RBC to $16, while Scotiabank moved to $14.50. The accompanying hold or sector-perform ratings indicate analysts remain cautious despite the higher targets. Truist price target
• Negative Sentiment: Barclays raised its target to $14 but maintained an underweight rating, and Scotiabank’s $14.50 target is slightly below the cited $14.68 share price. These calls temper the bullish impact of the broader target revisions. Read More., Read More.

Rapid7 Company Profile

Rapid7, Inc (NASDAQ:RPD) is a cybersecurity company that provides technology and services to help organizations identify, assess and manage security risk across their IT environments. Its offerings are designed to support security operations, vulnerability management, cloud security, application security and incident response.

The company’s product portfolio includes the Insight platform and solutions such as InsightVM for vulnerability risk management, InsightIDR for security detection and response, InsightCloudSec for cloud security and compliance, and InsightAppSec for application security testing.