Analysts Set Rapid7, Inc. (NASDAQ:RPD) Price Target at $128.07

Rapid7, Inc. (NASDAQ:RPDGet Rating) has received an average recommendation of “Buy” from the nineteen brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $125.06.

A number of brokerages recently weighed in on RPD. StockNews.com began coverage on shares of Rapid7 in a research note on Thursday, March 31st. They set a “sell” rating for the company. Barclays increased their price target on shares of Rapid7 from $120.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, February 10th. Zacks Investment Research upgraded shares of Rapid7 from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Wednesday. Piper Sandler cut their price objective on shares of Rapid7 from $140.00 to $120.00 in a research report on Thursday, May 5th. Finally, Royal Bank of Canada upped their price objective on shares of Rapid7 from $130.00 to $140.00 in a research report on Thursday, February 10th.

RPD traded up $0.34 on Friday, reaching $68.81. 8,587 shares of the company’s stock were exchanged, compared to its average volume of 584,292. The stock has a market cap of $4.01 billion, a PE ratio of -24.29 and a beta of 1.38. The stock’s fifty day moving average price is $96.68 and its 200-day moving average price is $104.87. Rapid7 has a twelve month low of $63.24 and a twelve month high of $145.00.

Rapid7 (NASDAQ:RPDGet Rating) last announced its earnings results on Wednesday, May 4th. The technology company reported ($0.16) earnings per share for the quarter, hitting the consensus estimate of ($0.16). The business had revenue of $157.00 million for the quarter, compared to analysts’ expectations of $154.15 million. During the same period in the previous year, the company earned ($0.42) earnings per share. Rapid7’s quarterly revenue was up 33.6% on a year-over-year basis. Analysts expect that Rapid7 will post -2.02 EPS for the current year.

In other Rapid7 news, CFO Timothy M. Adams acquired 5,000 shares of the firm’s stock in a transaction on Monday, May 9th. The stock was purchased at an average price of $65.50 per share, with a total value of $327,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 106,540 shares in the company, valued at approximately $6,978,370. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Corey E. Thomas sold 50,000 shares of Rapid7 stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $100.00, for a total transaction of $5,000,000.00. The disclosure for this sale can be found here. Insiders have sold 55,968 shares of company stock worth $5,656,672 in the last quarter. Insiders own 3.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors grew its position in shares of Rapid7 by 5.8% during the first quarter. Capital Research Global Investors now owns 1,603,819 shares of the technology company’s stock worth $178,409,000 after acquiring an additional 87,700 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Rapid7 by 37.4% during the first quarter. Advisors Asset Management Inc. now owns 1,946 shares of the technology company’s stock worth $216,000 after acquiring an additional 530 shares during the last quarter. Penn Capital Management Company LLC grew its position in shares of Rapid7 by 31.3% during the first quarter. Penn Capital Management Company LLC now owns 107,458 shares of the technology company’s stock worth $11,311,000 after acquiring an additional 25,588 shares during the last quarter. Eaton Vance Management grew its position in shares of Rapid7 by 46.0% during the first quarter. Eaton Vance Management now owns 41,261 shares of the technology company’s stock worth $4,591,000 after acquiring an additional 13,009 shares during the last quarter. Finally, PDT Partners LLC bought a new position in shares of Rapid7 during the first quarter worth about $564,000. Institutional investors and hedge funds own 98.03% of the company’s stock.

About Rapid7 (Get Rating)

Rapid7, Inc provides cyber security solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cyber security risk management programs. Its platform includes InsightIDR, an incident detection and response solution; InsightCloudSec, a solution that integrates posture management, workload protection, infrastructure entitlements management, infrastructure-as-code security, and Kubernetes protection; InsightVM, a vulnerability risk management solution that is designed to provide a way to collect vulnerability data, prioritize risk, and automate remediation; InsightAppSec, which provides application security testing that analyzes web applications for security vulnerabilities; and InsightConnect, a security orchestration and automation response solution that is used by security professionals.

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