Rapid7 (NASDAQ:RPD) Stock Price Expected to Rise, DA Davidson Analyst Says

Rapid7 (NASDAQ:RPD) had its price target raised by stock analysts at DA Davidson from $35.00 to $39.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. DA Davidson’s price objective would suggest a potential downside of 6.52% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Truist Financial dropped their price objective on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday. Piper Sandler dropped their price objective on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday. UBS Group decreased their price target on Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on Rapid7 from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and reduced their price target for the stock from $52.00 to $43.00 in a research report on Wednesday, August 7th. Fifteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $44.59.

Rapid7 Trading Up 0.3 %

NASDAQ:RPD traded up $0.12 during trading hours on Thursday, hitting $41.72. The company’s stock had a trading volume of 648,163 shares, compared to its average volume of 845,395. Rapid7 has a 52-week low of $32.94 and a 52-week high of $61.88. The stock has a market capitalization of $2.62 billion, a P/E ratio of -49.61 and a beta of 0.96. The stock has a fifty day moving average of $37.90 and a 200-day moving average of $38.77.

Rapid7 (NASDAQ:RPD) last released its earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.52 by $0.06. The company had revenue of $207.99 million during the quarter, compared to analysts’ expectations of $204.04 million. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. The business’s revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.33) EPS. On average, sell-side analysts forecast that Rapid7 will post 0.8 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Reeny Sondhi sold 3,663 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction of $146,520.00. Following the transaction, the director now directly owns 17,460 shares in the company, valued at approximately $698,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Rapid7

A number of large investors have recently made changes to their positions in the company. Point72 Asset Management L.P. boosted its stake in Rapid7 by 252.0% during the second quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock worth $164,236,000 after buying an additional 2,719,791 shares during the period. Cannae Holdings Inc. purchased a new position in shares of Rapid7 in the 2nd quarter valued at $15,130,000. SG Americas Securities LLC grew its position in shares of Rapid7 by 7,688.6% in the 2nd quarter. SG Americas Securities LLC now owns 165,196 shares of the technology company’s stock worth $7,141,000 after buying an additional 163,075 shares during the last quarter. 272 Capital LP acquired a new position in shares of Rapid7 during the second quarter worth $6,979,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Rapid7 in the second quarter valued at about $6,106,000. 95.66% of the stock is currently owned by institutional investors.

Rapid7 Company Profile

Rapid7, Inc provides cybersecurity solutions under the Rapid7, Nexpose, and Metasploit brand names. The company offers endpoint to cloud data collection and sharing applications, such as Rapid7 Insight Agent, a software-based agent that is used on assets across on-premises and cloud environments to centralize and monitor data on company's platform; Rapid7 Insight Network Sensor that analyzes raw end-to-end network traffic to increase visibility into user activity, pinpoint real threats, and investigations; Rapid7 Cloud Event Data Harvesting that offers visibility into changes made to cloud resources; and third-party integrations and ecosystem, as well as orchestration and automation solutions.