Rapid7 (NASDAQ:RPD) Stock Gets Price Target Increase from Barclays

Rapid7 (NASDAQ:RPD) had its price objective raised by research analysts at Barclays from $12.00 to $14.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “underweight” rating on the technology company’s stock. Barclays‘s price objective would indicate a potential downside of 4.63% from the company’s previous close.

Other analysts have also recently issued reports about the stock. DA Davidson lifted their target price on shares of Rapid7 from $5.25 to $9.00 and gave the company an “underperform” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. downgraded shares of Rapid7 from a “neutral” rating to an “underweight” rating and set a $12.00 price target on the stock. in a report on Tuesday, September 15th. Truist Financial restated a “hold” rating and set a $15.00 price target (up from $10.00) on shares of Rapid7 in a report on Thursday. Robert W. Baird lifted their price objective on shares of Rapid7 from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of Rapid7 from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, September 14th. One investment analyst has rated the stock with a Buy rating, seventeen have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $13.97.

Rapid7 Stock Down 4.9%

Shares of Rapid7 stock traded down $0.76 during trading on Thursday, hitting $14.68. 2,032,307 shares of the stock traded hands, compared to its average volume of 2,045,676. The stock has a market cap of $989.43 million, a P/E ratio of 69.91 and a beta of 0.90. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.80 and a current ratio of 0.80. Rapid7 has a twelve month low of $4.97 and a twelve month high of $18.56. The company has a fifty day moving average price of $13.16 and a two-hundred day moving average price of $9.57.

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

Institutional Investors Weigh In On Rapid7

A number of large investors have recently added to or reduced their stakes in RPD. Diversified Trust Co lifted its stake in shares of Rapid7 by 9.0% in the third quarter. Diversified Trust Co now owns 31,336 shares of the technology company’s stock worth $383,000 after buying an additional 2,578 shares during the last quarter. Fulcrum Asset Management LLP bought a new stake in shares of Rapid7 during the 3rd quarter worth $437,000. Ethic Inc. boosted its holdings in shares of Rapid7 by 164.0% during the 3rd quarter. Ethic Inc. now owns 28,416 shares of the technology company’s stock worth $347,000 after buying an additional 17,653 shares during the period. Abacus Wealth Partners LLC bought a new stake in shares of Rapid7 during the 3rd quarter worth $212,000. Finally, Chicago Partners Investment Group LLC acquired a new position in Rapid7 in the 3rd quarter valued at $179,000. Institutional investors own 95.66% of the company’s stock.

Trending Headlines about 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.