Brokerages Set Rapid7, Inc. (NASDAQ:RPD) Price Target at $124.23

Shares of Rapid7, Inc. (NASDAQ:RPD) have been assigned an average recommendation of “Buy” from the sixteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $125.00.

Several equities research analysts have recently commented on the stock. Raymond James boosted their target price on shares of Rapid7 from $105.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, August 5th. Zacks Investment Research downgraded shares of Rapid7 from a “hold” rating to a “sell” rating in a research report on Thursday, August 12th. KeyCorp began coverage on shares of Rapid7 in a research report on Monday, August 2nd. They issued an “overweight” rating and a $135.00 price objective for the company. Piper Sandler upped their price objective on shares of Rapid7 from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, July 9th. Finally, Morgan Stanley upped their price objective on shares of Rapid7 from $94.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 5th.

NASDAQ:RPD opened at $120.97 on Friday. The company has a debt-to-equity ratio of 5.29, a current ratio of 1.83 and a quick ratio of 1.83. The firm has a 50-day moving average of $113.25 and a 200-day moving average of $93.63. The company has a market cap of $6.75 billion, a PE ratio of -54.00 and a beta of 1.34. Rapid7 has a one year low of $57.73 and a one year high of $125.32.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Wednesday, August 4th. The technology company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.03 by $0.04. The company had revenue of $126.42 million during the quarter, compared to the consensus estimate of $123.09 million. Rapid7 had a negative net margin of 25.64% and a negative return on equity of 177.30%. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 earnings per share. On average, equities research analysts expect that Rapid7 will post -1.92 earnings per share for the current fiscal year.

In related news, Director Thomas E. Schodorf sold 270 shares of the company’s stock in a transaction that occurred on Friday, September 3rd. The shares were sold at an average price of $123.50, for a total transaction of $33,345.00. Following the sale, the director now directly owns 22,275 shares in the company, valued at approximately $2,750,962.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christina Luconi sold 4,927 shares of the company’s stock in a transaction that occurred on Tuesday, August 17th. The shares were sold at an average price of $109.00, for a total transaction of $537,043.00. Following the sale, the insider now owns 89,169 shares in the company, valued at $9,719,421. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of RPD. FMR LLC lifted its stake in Rapid7 by 195.6% in the 1st quarter. FMR LLC now owns 170,286 shares of the technology company’s stock worth $8,619,000 after purchasing an additional 112,677 shares in the last quarter. Comerica Bank lifted its stake in Rapid7 by 29.8% in the 1st quarter. Comerica Bank now owns 4,212 shares of the technology company’s stock worth $354,000 after purchasing an additional 968 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Rapid7 by 91.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,233 shares of the technology company’s stock worth $2,778,000 after purchasing an additional 17,834 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Rapid7 by 17.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 87,409 shares of the technology company’s stock worth $6,522,000 after purchasing an additional 12,926 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Rapid7 by 11.6% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 651,170 shares of the technology company’s stock worth $48,584,000 after purchasing an additional 67,890 shares in the last quarter.

About Rapid7

Rapid7, Inc engages in the provision of cyber security analytics and automation services. Its products include Metasploit, Nexpose, AppSpider, tCell by Rapid7, as well as insight platforms such as InsightDR, InsightIVM, InsightAppSec, InsightConnect, and InsightOps. It also offers security and product consulting services.

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Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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