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

Rapid7, Inc. (NASDAQ:RPD - Get Free Report) has been assigned a consensus rating of "Hold" from the twenty ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $33.32.

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group cut their price target on shares of Rapid7 from $45.00 to $35.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Piper Sandler cut their price target on shares of Rapid7 from $35.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Raymond James Financial cut their price target on shares of Rapid7 from $45.00 to $40.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Scotiabank cut their price target on shares of Rapid7 from $38.00 to $29.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 13th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating on shares of Rapid7 in a report on Tuesday, May 13th.

Rapid7 Stock Down 0.6%

Shares of NASDAQ RPD traded down $0.14 on Wednesday, reaching $23.39. 3,176,311 shares of the company's stock traded hands, compared to its average volume of 823,204. Rapid7 has a 12 month low of $21.61 and a 12 month high of $44.48. The business's 50 day simple moving average is $23.58 and its two-hundred day simple moving average is $30.64. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 59.98 and a beta of 1.02. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 16.87.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The technology company reported $0.49 EPS for the quarter, beating 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 firm had revenue of $210.25 million for the quarter, compared to analysts' expectations of $208.25 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. The business's revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities research analysts forecast that Rapid7 will post 0.35 EPS for the current fiscal year.

Insider Transactions at Rapid7

In other news, insider Christina Luconi sold 12,551 shares of Rapid7 stock in a transaction on Monday, April 7th. The shares were sold at an average price of $23.12, for a total transaction of $290,179.12. Following the transaction, the insider now owns 58,165 shares in the company, valued at $1,344,774.80. This trade represents a 17.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RPD. New York State Teachers Retirement System bought a new stake in shares of Rapid7 during the 1st quarter valued at $29,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Rapid7 during the 1st quarter valued at $38,000. Versant Capital Management Inc raised its position 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 valued at $39,000 after purchasing an additional 1,434 shares during the period. Skandinaviska Enskilda Banken AB publ raised its position 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 valued at $46,000 after purchasing an additional 455 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Rapid7 during the 1st quarter valued at $74,000. Hedge funds and other institutional investors own 95.66% of the company's stock.

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.