Brokerages Set Rapid7, Inc. (NASDAQ:RPD) Price Target at $45.44

Rapid7, Inc. (NASDAQ:RPD) has been assigned an average rating of “Hold” from the twenty brokerages that are presently covering the stock, Marketbeat reports. Fourteen analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $44.59.

A number of analysts have weighed in on RPD shares. Scotiabank reduced their price objective on shares of Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Jefferies Financial Group initiated coverage on shares of Rapid7 in a research report on Wednesday, October 16th. They set a “buy” rating and a $50.00 price target for the company. Truist Financial cut their target price on Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. Robert W. Baird cut Rapid7 from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $56.00 to $45.00 in a research note on Thursday, August 1st. Finally, DA Davidson increased their price objective on Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th.

Insider Buying and Selling at Rapid7

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $40.00, for a total transaction of $146,520.00. Following the sale, the director now owns 17,460 shares in the company, valued at approximately $698,400. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Rapid7

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Intech Investment Management LLC bought a new position in Rapid7 in the 3rd quarter worth $695,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Rapid7 by 36.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,951 shares of the technology company’s stock worth $3,429,000 after acquiring an additional 22,734 shares during the period. Quest Partners LLC boosted its stake in shares of Rapid7 by 924.6% in the third quarter. Quest Partners LLC now owns 8,320 shares of the technology company’s stock worth $332,000 after acquiring an additional 7,508 shares during the period. Principal Financial Group Inc. grew its position in shares of Rapid7 by 9.7% during the third quarter. Principal Financial Group Inc. now owns 47,661 shares of the technology company’s stock worth $1,901,000 after purchasing an additional 4,214 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Rapid7 by 3.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 125,678 shares of the technology company’s stock valued at $5,013,000 after purchasing an additional 3,634 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

Rapid7 Stock Up 2.1 %

NASDAQ:RPD opened at $41.39 on Tuesday. The firm has a market capitalization of $2.60 billion, a P/E ratio of 65.70 and a beta of 0.96. The company has a fifty day moving average of $38.09 and a 200 day moving average of $38.62. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.88.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. Rapid7 had a negative return on equity of 99.08% and a net margin of 5.65%. The business had revenue of $214.65 million during the quarter, compared to analyst estimates of $210.04 million. During the same quarter in the prior year, the company posted $0.11 EPS. Rapid7’s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, analysts anticipate that Rapid7 will post 0.81 EPS for the current year.

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.