Brokerages Set Rapid7, Inc. (NASDAQ:RPD) Target Price at $33.32

Shares of Rapid7, Inc. (NASDAQ:RPD - Get Free Report) have been given a consensus rating of "Hold" by the twenty-one brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $33.16.

A number of equities analysts recently commented on RPD shares. Stephens started coverage on shares of Rapid7 in a research note on Tuesday, April 1st. They set an "equal weight" rating and a $33.00 price target for the company. Susquehanna dropped their price target on shares of Rapid7 from $40.00 to $30.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Raymond James Financial dropped their price target on shares of Rapid7 from $45.00 to $40.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Stifel Nicolaus dropped their price target on shares of Rapid7 from $38.00 to $29.00 and set a "hold" rating for the company in a research note on Tuesday, May 13th. Finally, Morgan Stanley lifted their price objective on shares of Rapid7 from $26.00 to $28.00 and gave the company an "equal weight" rating in a report on Tuesday, May 13th.

Rapid7 Price Performance

Shares of NASDAQ:RPD traded up $0.03 on Friday, reaching $22.56. The company's stock had a trading volume of 502,113 shares, compared to its average volume of 799,499. Rapid7 has a 52-week low of $21.61 and a 52-week high of $44.48. The company has a market cap of $1.45 billion, a P/E ratio of 57.85 and a beta of 1.01. The company has a 50-day simple moving average of $23.66 and a 200 day simple moving average of $28.64. The company has a debt-to-equity ratio of 16.87, a quick ratio of 1.24 and a current ratio of 1.24.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The technology company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.12. Rapid7 had a net margin of 3.42% and a return on equity of 2,043.18%. The business had revenue of $210.25 million during the quarter, compared to analysts' expectations of $208.25 million. During the same period last year, the company posted $0.55 EPS. The business's revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts anticipate that Rapid7 will post 0.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Rapid7

Several institutional investors have recently bought and sold shares of the business. New York State Teachers Retirement System bought a new position in shares of Rapid7 during the 1st quarter worth approximately $29,000. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Rapid7 by 68.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company's stock worth $46,000 after acquiring an additional 455 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Rapid7 during the 1st quarter worth approximately $38,000. Versant Capital Management Inc raised its stake 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 in the last quarter. Finally, Ostrum Asset Management raised its stake in shares of Rapid7 by 45.3% during the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock worth $100,000 after acquiring an additional 772 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other 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.