JPMorgan Chase & Co. Has Lowered Expectations for Rapid7 (NASDAQ:RPD) Stock Price

Key Points

• JPMorgan Chase & Co. has lowered its price target for Rapid7 from $28.00 to $23.00, maintaining a "neutral" rating on the stock.
• Rapid7's average analyst rating is at "Hold" with a consensus target price of $32.84, despite varying ratings from other firms.
• Rapid7 reported $0.49 earnings per share for the recent quarter, exceeding expectations, with a year-over-year revenue increase of 2.5%.

Rapid7 (NASDAQ:RPD - Get Free Report) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $28.00 to $23.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the technology company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 23.18% from the company's previous close.

RPD has been the subject of a number of other reports. Wall Street Zen raised Rapid7 from a "hold" rating to a "buy" rating in a report on Sunday, August 3rd. Morgan Stanley boosted their target price on shares of Rapid7 from $26.00 to $28.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. Raymond James Financial decreased their target price on Rapid7 from $45.00 to $40.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Stifel Nicolaus dropped their price objective on shares of Rapid7 from $38.00 to $29.00 and set a "hold" rating on the stock in a research note on Tuesday, May 13th. Finally, Robert W. Baird boosted their target price on shares of Rapid7 from $26.00 to $28.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $31.72.

Rapid7 Trading Down 5.8%

Shares of RPD traded down $1.15 during trading hours on Monday, hitting $18.67. The stock had a trading volume of 618,756 shares, compared to its average volume of 848,098. The company's fifty day simple moving average is $22.97 and its 200 day simple moving average is $26.63. Rapid7 has a 12-month low of $18.57 and a 12-month high of $44.48. The company has a debt-to-equity ratio of 16.87, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $1.20 billion, a P/E ratio of 47.68 and a beta of 0.96.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.14. The business had revenue of $214.19 million for the quarter, compared to the consensus estimate of $212.17 million. Rapid7 had a return on equity of 2,043.18% and a net margin of 3.42%. The business's revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $0.58 EPS. Equities research analysts forecast that Rapid7 will post 0.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Rapid7

A number of institutional investors have recently modified their holdings of the company. New York State Teachers Retirement System purchased a new stake in shares of Rapid7 in the first quarter worth $29,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Rapid7 in the 1st quarter worth approximately $38,000. Versant Capital Management Inc lifted its holdings in shares of Rapid7 by 5,311.1% during the 1st quarter. Versant Capital Management Inc now owns 1,461 shares of the technology company's stock worth $39,000 after acquiring an additional 1,434 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Rapid7 during the first quarter valued at about $74,000. Finally, Ostrum Asset Management lifted its stake in Rapid7 by 45.3% during the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock worth $100,000 after purchasing an additional 772 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

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.