Rapid7, Inc. (NASDAQ:RPD) Receives $43.71 Consensus Price Target from Analysts

Shares of Rapid7, Inc. (NASDAQ:RPD) have received an average rating of “Hold” from the twenty ratings firms that are presently covering the company, Marketbeat Ratings reports. Fifteen research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $43.76.

Several research analysts have weighed in on RPD shares. Stifel Nicolaus reissued a “hold” rating and issued a $42.00 price target (down from $48.00) on shares of Rapid7 in a report on Friday, January 17th. StockNews.com raised shares of Rapid7 from a “hold” rating to a “buy” rating in a report on Friday, December 6th. DA Davidson increased 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. Piper Sandler lowered their price target 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, Jefferies Financial Group started coverage on shares of Rapid7 in a report on Wednesday, October 16th. They issued a “buy” rating and a $50.00 price target on the stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its stake in Rapid7 by 0.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company’s stock valued at $2,782,000 after acquiring an additional 446 shares during the last quarter. SG Americas Securities LLC boosted its position in Rapid7 by 126.6% in the fourth quarter. SG Americas Securities LLC now owns 9,908 shares of the technology company’s stock valued at $399,000 after buying an additional 5,536 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Rapid7 by 106.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 49,155 shares of the technology company’s stock valued at $1,978,000 after buying an additional 25,398 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Rapid7 by 259.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock valued at $11,625,000 after buying an additional 208,501 shares in the last quarter. Finally, Diversified Trust Co boosted its position in Rapid7 by 8.6% in the fourth quarter. Diversified Trust Co now owns 21,534 shares of the technology company’s stock valued at $866,000 after buying an additional 1,708 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

Rapid7 Stock Performance

Shares of RPD stock opened at $39.54 on Friday. The firm’s 50-day moving average is $40.62 and its 200-day moving average is $39.03. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 62.76 and a beta of 0.96. Rapid7 has a 52-week low of $32.94 and a 52-week high of $61.88.

Rapid7 (NASDAQ:RPD) last issued its earnings results 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. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. The company had revenue of $214.65 million for the quarter, compared to analysts’ expectations of $210.04 million. During the same period in the prior year, the firm earned $0.11 EPS. Rapid7’s quarterly revenue was up 8.0% compared to the same quarter last year. Sell-side analysts predict that Rapid7 will post 0.98 EPS for the current fiscal year.

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.