Rapid7 (NASDAQ:RPD) Price Target Cut to $25.00 by Analysts at Mizuho

Key Points

• Mizuho has lowered its price target for Rapid7 from $27.00 to $25.00, maintaining a "neutral" rating on the stock, which reflects a potential upside of 26.14% from its current price.
• Other brokerages have varied opinions on Rapid7, with ratings ranging from "buy" to "sell" and forecasts indicating a consensus price target of $31.72.
• Rapid7 reported a 3% year-over-year increase in revenue for the last quarter, with earnings per share of $0.58, surpassing analyst expectations.

Rapid7 (NASDAQ:RPD - Free Report) had its price target lowered by Mizuho from $27.00 to $25.00 in a research note issued to investors on Friday morning,Benzinga reports. Mizuho currently has a neutral rating on the technology company's stock.

A number of other research firms have also recently weighed in on RPD. Piper Sandler dropped their price target on Rapid7 from $35.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Raymond James Financial dropped their price target on Rapid7 from $45.00 to $40.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Canaccord Genuity Group dropped their price target on Rapid7 from $43.00 to $39.00 and set a "hold" rating on the stock in a research note on Wednesday, May 14th. Susquehanna dropped their price target on Rapid7 from $40.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Wall Street Zen upgraded Rapid7 from a "hold" rating to a "buy" rating in a research note on Sunday, August 3rd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $29.22.

Rapid7 Trading Down 9.8%

RPD stock traded down $1.94 during midday trading on Friday, hitting $17.88. 2,167,037 shares of the company's stock were exchanged, compared to its average volume of 750,106. 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 stock's fifty day moving average price is $22.87 and its 200-day moving average price is $26.40. Rapid7 has a one year low of $17.83 and a one year high of $44.48. The company has a market cap of $1.15 billion, a PE ratio of 43.61 and a beta of 0.96.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.14. Rapid7 had a return on equity of 269.59% and a net margin of 3.41%. The business had revenue of $214.19 million during the quarter, compared to analyst estimates of $212.17 million. During the same period in the previous year, the firm earned $0.58 EPS. Rapid7's quarterly revenue was up 3.0% compared to the same quarter last year. Research analysts predict that Rapid7 will post 0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rapid7

A number of institutional investors have recently bought and sold shares of RPD. Principal Financial Group Inc. raised its holdings in Rapid7 by 1.1% during the first quarter. Principal Financial Group Inc. now owns 54,915 shares of the technology company's stock valued at $1,456,000 after acquiring an additional 609 shares during the period. Y.D. More Investments Ltd raised its stake in Rapid7 by 12.0% during the 1st quarter. Y.D. More Investments Ltd now owns 5,839 shares of the technology company's stock valued at $171,000 after purchasing an additional 625 shares during the period. Nordea Investment Management AB lifted its holdings in Rapid7 by 1.0% in the 2nd quarter. Nordea Investment Management AB now owns 78,294 shares of the technology company's stock worth $1,808,000 after purchasing an additional 753 shares in the last quarter. Ostrum Asset Management boosted its stake in Rapid7 by 45.3% in the 4th 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 period. Finally, Teacher Retirement System of Texas grew its holdings in Rapid7 by 1.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 54,981 shares of the technology company's stock valued at $1,272,000 after buying an additional 890 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

About Rapid7

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.