Rapid7 (NASDAQ:RPD) Stock Gets Price Target Increase from Citigroup

by · The Markets Daily

Rapid7 (NASDAQ:RPD – Get Free Report) had its price objective hoisted by research analysts at Citigroup from $13.00 to $16.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Citigroup‘s target price indicates a potential upside of 8.99% from the stock’s current price.

A number of other equities analysts have also recently commented on RPD. Canaccord Genuity Group lifted their target price on Rapid7 from $7.00 to $14.00 and gave the stock a “hold” rating in a report on Tuesday, August 11th. Piper Sandler increased their price target on Rapid7 from $12.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday. Morgan Stanley downgraded Rapid7 from an “equal weight” rating to an “underweight” rating and set a $9.00 price target for the company. in a research report on Tuesday, July 21st. DA Davidson increased their target price on shares of Rapid7 from $5.25 to $9.00 and gave the company an “underperform” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of Rapid7 from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, September 14th. One equities 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 currently has an average rating of “Reduce” and a consensus target price of $13.97.

Check Out Our Latest Analysis on Rapid7

Rapid7 Price Performance

Shares of NASDAQ RPD traded down $0.76 during mid-day trading 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. 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 has a 1 year low of $4.97 and a 1 year high of $18.56. The company’s 50-day moving average is $13.16 and its two-hundred day moving average is $9.57. The company has a market capitalization of $989.43 million, a P/E ratio of 69.91 and a beta of 0.90.

Rapid7 (NASDAQ:RPD – Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The technology company reported $0.60 EPS for the quarter, topping 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 analyst estimates of $209.05 million. During the same quarter last year, the business posted $0.57 earnings per share. The firm’s revenue was down 2.5% on a year-over-year basis. On average, equities analysts anticipate that Rapid7 will post 0.79 EPS for the current fiscal year.

Institutional Trading of Rapid7

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of Rapid7 by 20.6% during the second quarter. GAMMA Investing LLC now owns 5,866 shares of the technology company’s stock worth $48,000 after purchasing an additional 1,000 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Rapid7 by 13.4% in the second quarter. Versant Capital Management Inc now owns 10,469 shares of the technology company’s stock worth $85,000 after purchasing an additional 1,238 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Rapid7 by 34.5% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 5,752 shares of the technology company’s stock worth $70,000 after purchasing an additional 1,475 shares during the last quarter. Diversified Trust Co increased its stake in Rapid7 by 9.0% in the 3rd quarter. Diversified Trust Co now owns 31,336 shares of the technology company’s stock worth $383,000 after buying an additional 2,578 shares during the period. Finally, Parallel Advisors LLC increased its stake in Rapid7 by 108.8% in the 1st quarter. Parallel Advisors LLC now owns 6,340 shares of the technology company’s stock worth $35,000 after buying an additional 3,304 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

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

(Get Free Report)

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.

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