Rapid7 (NASDAQ:RPD) Given New $16.00 Price Target at Royal Bank Of Canada

Rapid7 (NASDAQ:RPD) had its price objective hoisted by analysts at Royal Bank Of Canada from $12.00 to $16.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “sector perform” rating on the technology company’s stock. Royal Bank Of Canada‘s price objective suggests a potential upside of 2.14% from the stock’s previous close.

Several other equities analysts have also commented on RPD. Citigroup reiterated a “neutral” rating on shares of Rapid7 in a research note on Wednesday, August 12th. Wall Street Zen raised Rapid7 from a “hold” rating to a “buy” rating in a research note on Saturday, October 3rd. DA Davidson lifted their price target on Rapid7 from $5.25 to $9.00 and gave the company an “underperform” rating in a report on Tuesday, August 11th. Piper Sandler upped their price objective on shares of Rapid7 from $12.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Barclays increased their price objective on shares of Rapid7 from $12.00 to $14.00 and gave the stock an “underweight” rating in a report on Thursday. One equities research analyst has rated the stock with a Buy rating, seventeen have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, Rapid7 has an average rating of “Reduce” and a consensus target price of $13.09.

Rapid7 Trading Up 4.2%

NASDAQ RPD traded up $0.62 during mid-day trading on Thursday, reaching $15.66. 1,990,229 shares of the stock were exchanged, compared to its average volume of 2,099,301. The stock has a market capitalization of $1.06 billion, a PE ratio of 50.20 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 1-year low of $4.97 and a 1-year high of $18.56. The business’s fifty day simple moving average is $13.07 and its 200 day simple moving average is $9.55.

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 the consensus estimate of $0.46 by $0.14. Rapid7 had a return on equity of 27.89% and a net margin of 2.35%. The company had revenue of $212.40 million during the quarter, compared to the consensus estimate of $209.05 million. During the same period in the previous year, the firm posted $0.57 EPS. Rapid7’s revenue was down 2.5% on a year-over-year basis. On average, research analysts anticipate that Rapid7 will post 0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rapid7

Several institutional investors and hedge funds have recently added to or reduced their stakes in RPD. Fulcrum Asset Management LLP purchased a new position in shares of Rapid7 in the 3rd quarter worth about $437,000. Ethic Inc. increased its position in 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 purchasing an additional 17,653 shares in the last quarter. Abacus Wealth Partners LLC purchased a new position in Rapid7 in the third quarter valued at approximately $212,000. Chicago Partners Investment Group LLC purchased a new position in Rapid7 in the third quarter valued at approximately $179,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Rapid7 during the third quarter valued at approximately $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 reported third-quarter adjusted earnings of $0.60 per share, above the $0.46 consensus, and revenue of $212.4 million, topping estimates of $209.05 million. Quarterly earnings results
• Positive Sentiment: Piper Sandler raised its price target to $20 from $12, implying potential upside from the quoted share price, though it maintained a neutral rating. Piper Sandler rating
• Neutral Sentiment: Rapid7 forecast fourth-quarter adjusted EPS of $0.53–$0.55; the provided report does not include analyst expectations for comparison. Fourth-quarter guidance
• Neutral Sentiment: Truist raised its target to $15 from $10 but reiterated a hold rating; the new target is below the quoted share price. Truist rating
• Negative Sentiment: Third-quarter revenue was down 2.5% from a year earlier, tempering the impact of the earnings and sales beats. Barclays also kept an underweight rating despite lifting its target to $14, below the quoted share price. Barclays rating

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.