Truist Financial Issues Pessimistic Forecast for Rapid7 (NASDAQ:RPD) Stock Price

Rapid7 (NASDAQ:RPD) had its price objective lowered by analysts at Truist Financial from $22.00 to $18.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the technology company’s stock. Truist Financial’s price target would indicate a potential upside of 20.88% from the stock’s current price.

A number of other brokerages also recently commented on RPD. Scotiabank set a $18.00 target price on shares of Rapid7 in a report on Wednesday. Susquehanna cut their price target on shares of Rapid7 from $30.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, August 11th. Raymond James Financial cut their price target on shares of Rapid7 from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Citigroup lowered their price objective on Rapid7 from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, August 18th. Finally, Barclays set a $18.00 target price on Rapid7 in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.78.

Rapid7 Trading Down 16.3%

RPD stock traded down $2.91 during mid-day trading on Wednesday, reaching $14.89. 1,412,187 shares of the stock traded hands, compared to its average volume of 873,279. The company has a debt-to-equity ratio of 9.84, a quick ratio of 1.36 and a current ratio of 1.36. Rapid7 has a one year low of $14.20 and a one year high of $44.48. The stock has a market capitalization of $964.13 million, a PE ratio of 36.39 and a beta of 0.92. The business has a 50-day moving average price of $19.29 and a two-hundred day moving average price of $21.59.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Tuesday, November 4th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.12. The firm had revenue of $217.96 million during the quarter, compared to analyst estimates of $216.14 million. Rapid7 had a net margin of 3.41% and a return on equity of 149.12%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 earnings per share. Rapid7 has set its FY 2025 guidance at 2.020-2.090 EPS. Q4 2025 guidance at 0.370-0.44 EPS. Equities research analysts expect that Rapid7 will post 0.35 EPS for the current year.

Insider Transactions at Rapid7

In other news, Director Jana Partners Management, Lp bought 358,738 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was bought at an average cost of $18.23 per share, for a total transaction of $6,539,793.74. Following the acquisition, the director directly owned 6,105,148 shares of the company’s stock, valued at $111,296,848.04. The trade was a 6.24% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Scott M. Murphy sold 1,370 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $20.25, for a total value of $27,742.50. Following the transaction, the chief accounting officer owned 27,592 shares of the company’s stock, valued at $558,738. This trade represents a 4.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have purchased a total of 772,194 shares of company stock valued at $15,135,356 over the last 90 days. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rapid7

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. New York State Teachers Retirement System purchased a new stake in Rapid7 during the first quarter worth approximately $29,000. Teacher Retirement System of Texas increased its holdings in shares of Rapid7 by 24.1% in the first quarter. Teacher Retirement System of Texas now owns 54,091 shares of the technology company’s stock valued at $1,434,000 after purchasing an additional 10,487 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Rapid7 by 1.1% in the first quarter. Principal Financial Group Inc. now owns 54,915 shares of the technology company’s stock valued at $1,456,000 after purchasing an additional 609 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Rapid7 during the first quarter worth $74,000. Finally, Victory Capital Management Inc. grew its holdings in Rapid7 by 20.3% during the first quarter. Victory Capital Management Inc. now owns 21,040 shares of the technology company’s stock worth $558,000 after acquiring an additional 3,554 shares during the period. Hedge funds and other institutional investors 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.