Susquehanna Issues Positive Forecast for Rapid7 (NASDAQ:RPD) Stock Price

Rapid7 (NASDAQ:RPD) had its target price raised by Susquehanna from $15.00 to $16.00 in a research note released on Friday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the stock. Citigroup boosted their price target on shares of Rapid7 from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday. UBS Group increased their price objective on shares of Rapid7 from $12.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. lowered shares of Rapid7 from a “neutral” rating to an “underweight” rating and set a $12.00 price objective on the stock. in a report on Tuesday, September 15th. Barclays boosted their price objective on shares of Rapid7 from $12.00 to $14.00 and gave the stock an “underweight” rating in a research note on Thursday. Finally, Royal Bank Of Canada boosted their price objective on shares of Rapid7 from $12.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Thursday. One research analyst has rated the stock with a Buy rating, seventeen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Rapid7 has an average rating of “Reduce” and a consensus price target of $13.97.

Rapid7 Trading Down 4.9%

NASDAQ:RPD traded down $0.76 during midday trading on Friday, hitting $14.68. The stock had a trading volume of 2,032,307 shares, compared to its average volume of 2,045,676. The stock has a 50-day moving average of $13.16 and a 200 day moving average of $9.57. The company has a market capitalization of $989.43 million, a price-to-earnings ratio of 69.91 and a beta of 0.90. Rapid7 has a one year low of $4.97 and a one year high of $18.56. 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 (NASDAQ:RPD) last issued its 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. Rapid7 had a return on equity of 27.89% and a net margin of 2.35%. The business had revenue of $212.40 million during the quarter, compared to analyst estimates of $209.05 million. During the same period in the previous year, the company posted $0.57 EPS. Rapid7’s revenue was down 2.5% on a year-over-year basis. As a group, sell-side analysts forecast that Rapid7 will post 0.79 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RPD. Bank of America Corp DE purchased a new stake in Rapid7 during the second quarter valued at approximately $6,861,000. Bank of New York Mellon Corp purchased a new position in Rapid7 in the second quarter worth $3,844,000. Man Group plc purchased a new position in Rapid7 in the second quarter worth $3,409,000. Quantinno Capital Management LP increased its position in shares of Rapid7 by 776.1% during the first 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 shares of Rapid7 during the second quarter worth $1,751,000. Institutional investors own 95.66% of the company’s stock.

More Rapid7 News

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.

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.