Rapid7 (NASDAQ:RPD) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Rapid7 (NASDAQ:RPD) had its price objective upped by equities researchers at Royal Bank Of Canada from $12.00 to $16.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “sector perform” rating on the technology company’s stock. Royal Bank Of Canada‘s price target would suggest a potential upside of 8.99% from the stock’s current price.

RPD has been the topic of several other research reports. UBS Group increased their price target on shares of Rapid7 from $7.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Jefferies Financial Group reissued a “hold” rating and issued a $12.00 price objective on shares of Rapid7 in a report on Tuesday, August 11th. Mizuho boosted their price objective on Rapid7 from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday, October 15th. Truist Financial restated a “hold” rating and set a $15.00 price objective (up from $10.00) on shares of Rapid7 in a research note on Thursday. Finally, Weiss Ratings raised Rapid7 from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, September 14th. One analyst has rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $13.97.

Rapid7 Stock Down 4.9%

Shares of Rapid7 stock traded down $0.76 on Thursday, hitting $14.68. 2,032,307 shares of the company’s stock traded hands, compared to its average volume of 2,045,676. Rapid7 has a 52-week low of $4.97 and a 52-week 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. The stock has a market cap of $989.43 million, a P/E ratio of 69.91 and a beta of 0.90. The firm’s 50-day moving average is $13.16 and its 200 day moving average is $9.57.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Wednesday, November 4th. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.14. The company had revenue of $212.40 million during the quarter, compared to analyst estimates of $209.05 million. Rapid7 had a net margin of 2.35% and a return on equity of 27.89%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the business earned $0.57 EPS. Equities analysts anticipate that Rapid7 will post 0.79 earnings per share for the current year.

Hedge Funds Weigh In On Rapid7

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantinno Capital Management LP grew its holdings 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 valued at $1,435,000 after purchasing an additional 230,641 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Rapid7 by 535.0% during the 1st quarter. Renaissance Technologies LLC now owns 149,196 shares of the technology company’s stock worth $822,000 after purchasing an additional 125,700 shares during the period. CWA Asset Management Group LLC bought a new stake in shares of Rapid7 in the 3rd quarter worth approximately $1,361,000. Public Employees Retirement System of Ohio bought a new stake in shares of Rapid7 in the 2nd quarter worth approximately $393,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Rapid7 in the 2nd quarter worth approximately $3,844,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Key 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.

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.