Rapid7 (NASDAQ:RPD) Stock Price Expected to Rise, Piper Sandler Analyst Says

Rapid7 (NASDAQ:RPD) had its price objective increased by equities research analysts at Piper Sandler from $12.00 to $20.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Piper Sandler‘s price objective suggests a potential upside of 24.60% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Canaccord Genuity Group lifted their price target on Rapid7 from $7.00 to $14.00 and gave the stock a “hold” rating in a report on Tuesday, August 11th. Raymond James Financial restated an “outperform” rating and issued a $15.00 price objective on shares of Rapid7 in a research note on Tuesday, August 11th. DA Davidson raised their price objective on Rapid7 from $5.25 to $9.00 and gave the company an “underperform” rating in a research report on Tuesday, August 11th. Stifel Nicolaus lifted their target price on Rapid7 from $7.00 to $13.00 and gave the stock a “hold” rating in a research note on Tuesday, August 11th. Finally, Truist Financial reissued a “hold” rating and set a $15.00 target price (up from $10.00) on shares of Rapid7 in a report on Thursday. One investment analyst has rated the stock with a Buy rating, seventeen have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $12.77.

Rapid7 Stock Up 6.7%

Shares of RPD traded up $1.01 during midday trading on Thursday, hitting $16.05. The stock had a trading volume of 1,505,363 shares, compared to its average volume of 2,096,835. The company has a 50 day simple moving average of $13.07 and a two-hundred day simple moving average of $9.55. Rapid7 has a twelve month low of $4.97 and a twelve month high of $18.56. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 52.00 and a beta of 0.90. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.80 and a quick ratio of 0.80.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Wednesday, November 4th. The technology company reported $0.60 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $209.05 million. During the same quarter last year, the firm earned $0.57 EPS. Rapid7’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, analysts anticipate that Rapid7 will post 0.76 EPS for the current year.

Institutional Investors Weigh In On Rapid7

A number of large investors have recently bought and sold shares of the company. Fulcrum Asset Management LLP acquired a new stake in shares of Rapid7 during the 3rd quarter worth approximately $437,000. Ethic Inc. raised its position in Rapid7 by 164.0% during the third quarter. Ethic Inc. now owns 28,416 shares of the technology company’s stock valued at $347,000 after purchasing an additional 17,653 shares in the last quarter. Abacus Wealth Partners LLC acquired a new position in Rapid7 during the third quarter valued at approximately $212,000. Chicago Partners Investment Group LLC bought a new stake in Rapid7 during the third quarter worth $179,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Rapid7 during the third quarter worth $405,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Rapid7

Here are the key news stories impacting Rapid7 this week:

• Positive Sentiment: Rapid7 earned $0.60 per share, ahead of estimates of $0.45–$0.46 and up from $0.57 a year earlier. Revenue of $212.4 million also topped the $209.1 million consensus. The results prompted favorable investor reaction. Rapid7 Q3 earnings and revenues top estimates
• Neutral Sentiment: The company expects fourth-quarter adjusted EPS of $0.53–$0.55; the provided report does not include enough analyst-consensus context to assess how that outlook compares with expectations. Rapid7 Q4 adjusted EPS outlook
• Neutral Sentiment: An article raises the question of whether the shares remain overvalued, but the supplied information does not provide its valuation analysis or conclusion. Rapid7 beat third-quarter forecasts—is the stock still overvalued?
• Negative Sentiment: Despite the quarterly revenue beat, sales were down 2.5% year over year, indicating continued pressure on growth. Rapid7 third-quarter earnings results

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.