Rapid7 (NASDAQ:RPD) Stock Keeps “Hold” Rating at Truist Financial

Truist Financial reaffirmed their hold rating on shares of Rapid7 (NASDAQ:RPD) in a research report report published on Thursday morning,Benzinga reports. Truist Financial currently has a $15.00 price target on the technology company’s stock, up from their prior price target of $10.00.

Several other equities analysts have also recently weighed in on RPD. Piper Sandler lifted their target price on Rapid7 from $8.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Susquehanna increased their price target on shares of Rapid7 from $7.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 12th. Stifel Nicolaus raised their price target on shares of Rapid7 from $7.00 to $13.00 and gave the stock a “hold” rating in a report on Tuesday, August 11th. Citigroup reaffirmed a “neutral” rating on shares of Rapid7 in a research report on Wednesday, August 12th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $15.00 price objective on shares of Rapid7 in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating, seventeen have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, Rapid7 presently has a consensus rating of “Reduce” and an average target price of $13.92.

Rapid7 Price Performance

RPD opened at $15.44 on Thursday. The firm has a market capitalization of $1.04 billion, a P/E ratio of 73.53 and a beta of 0.90. The stock has a fifty day moving average of $13.14 and a 200-day moving average of $9.56. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.50. Rapid7 has a 12-month low of $4.97 and a 12-month high of $18.56.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Wednesday, November 4th. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $212.40 million for the quarter, compared to the consensus estimate of $209.05 million. Rapid7 had a return on equity of 30.84% and a net margin of 1.63%. Rapid7’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share. Equities analysts forecast that Rapid7 will post 0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Rapid7

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE acquired a new stake in shares of Rapid7 during the 2nd quarter valued at $6,861,000. Bank of New York Mellon Corp bought a new stake in Rapid7 during the 2nd quarter worth $3,844,000. Man Group plc bought a new stake in Rapid7 during the 2nd quarter worth $3,409,000. Quantinno Capital Management LP increased its holdings in Rapid7 by 776.1% in the 1st quarter. Quantinno Capital Management LP now owns 260,359 shares of the technology company’s stock worth $1,435,000 after purchasing an additional 230,641 shares in the last quarter. Finally, Deutsche Bank AG acquired a new position in Rapid7 in the 2nd quarter worth about $1,751,000. 95.66% of the stock is owned by institutional investors and hedge funds.

More Rapid7 News

Here are the key news stories impacting Rapid7 this week:

• Positive Sentiment: Rapid7 reported Q3 adjusted EPS of $0.60, topping the roughly $0.45–$0.46 consensus, and revenue of $212.4 million, above expectations of $209.05 million. The earnings and sales beats likely supported investor sentiment. Rapid7 Q3 earnings and revenues top estimates
• Positive Sentiment: Piper Sandler raised its price target to $20 from $12, leaving substantial potential upside at its new target, although it kept a neutral rating. Piper Sandler recommendations
• Neutral Sentiment: Several other firms also lifted targets: Citi and RBC to $16, Truist to $15, and Scotiabank to $14.50. Their neutral, sector-perform, or hold ratings suggest analysts see the improved results but remain measured about the outlook. Truist raises Rapid7 price target
• Negative Sentiment: Revenue fell 2.5% from a year earlier, tempering the strong quarterly beat. Barclays maintained an underweight rating with a $14 target, and Scotiabank’s $14.50 target is also below the recent share price, reflecting valuation or growth concerns. Barclays recommendations

About Rapid7

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.