Royal Bank Of Canada Issues Positive Forecast for Rapid7 (NASDAQ:RPD) Stock Price

Rapid7 (NASDAQ:RPD) had its price target boosted by Royal Bank Of Canada from $12.00 to $16.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a sector perform rating on the technology company’s stock.

A number of other research analysts also recently commented on RPD. Mizuho upped their price objective on Rapid7 from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, October 15th. Wall Street Zen upgraded Rapid7 from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. Jefferies Financial Group reissued a “hold” rating and set a $12.00 target price on shares of Rapid7 in a research note on Tuesday, August 11th. Piper Sandler lifted their price target on Rapid7 from $12.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Morgan Stanley downgraded shares of Rapid7 from an “equal weight” rating to an “underweight” rating and set a $9.00 target price on the stock. in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating, seventeen have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $13.92.

Rapid7 Stock Performance

Rapid7 stock opened at $15.44 on Thursday. The stock’s 50 day moving average price is $13.14 and its 200 day moving average price is $9.56. Rapid7 has a one year low of $4.97 and a one year high of $18.56. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $1.04 billion, a PE ratio of 73.53 and a beta of 0.90.

Rapid7 (NASDAQ:RPD) last announced its 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 net margin of 1.63% and a return on equity of 30.84%. The business had revenue of $212.40 million during the quarter, compared to the consensus estimate of $209.05 million. During the same period in the prior year, the firm earned $0.57 earnings per share. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. As a group, sell-side analysts expect that Rapid7 will post 0.76 EPS for the current fiscal year.

Institutional Trading of Rapid7

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its position in shares of Rapid7 by 108.8% in the 1st quarter. Parallel Advisors LLC now owns 6,340 shares of the technology company’s stock valued at $35,000 after acquiring an additional 3,304 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Rapid7 during the 2nd quarter worth approximately $38,000. Allworth Financial LP acquired a new stake in Rapid7 in the 2nd quarter valued at $42,000. GAMMA Investing LLC raised its holdings in 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 acquiring an additional 1,000 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of Rapid7 by 34.5% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 5,752 shares of the technology company’s stock valued at $70,000 after buying an additional 1,475 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Rapid7

Here are the key news stories impacting Rapid7 this week:

• Positive Sentiment: Rapid7 reported Q3 adjusted EPS of $0.60, topping the roughly $0.45–$0.46 consensus, and revenue of $212.4 million, above expectations of $209.05 million. The earnings and sales beats likely supported investor sentiment. Rapid7 Q3 earnings and revenues top estimates
• Positive Sentiment: Piper Sandler raised its price target to $20 from $12, leaving substantial potential upside at its new target, although it kept a neutral rating. Piper Sandler recommendations
• Neutral Sentiment: Several other firms also lifted targets: Citi and RBC to $16, Truist to $15, and Scotiabank to $14.50. Their neutral, sector-perform, or hold ratings suggest analysts see the improved results but remain measured about the outlook. Truist raises Rapid7 price target
• Negative Sentiment: Revenue fell 2.5% from a year earlier, tempering the strong quarterly beat. Barclays maintained an underweight rating with a $14 target, and Scotiabank’s $14.50 target is also below the recent share price, reflecting valuation or growth concerns. Barclays recommendations

About Rapid7

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.