Rapid7 (NASDAQ:RPD) Price Target Cut to $18.00 by Analysts at Susquehanna

Key Points

• Susquehanna Analysts have cut their target price for Rapid7 from $30.00 to $18.00, maintaining a "neutral" rating, which suggests limited upside potential for the stock.
• Rapid7 shares saw a 9.8% decline recently, with the stock trading at $17.88, close to its 52-week low of $17.83.
• In contrast to Susquehanna, other analysts, including Morgan Stanley and Robert W. Baird, increased their target prices on Rapid7 to between $28.00 and $30.00, indicating varied sentiment among analysts.

Rapid7 (NASDAQ:RPD - Get Free Report) had its target price reduced by Susquehanna from $30.00 to $18.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the technology company's stock. Susquehanna's price objective would indicate a potential upside of 0.67% from the stock's current price.

Other equities analysts have also recently issued reports about the company. Morgan Stanley increased their target price on Rapid7 from $26.00 to $28.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 13th. Robert W. Baird increased their target price on Rapid7 from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Canaccord Genuity Group reduced their target price on Rapid7 from $43.00 to $39.00 and set a "hold" rating for the company in a research note on Wednesday, May 14th. Mizuho reduced their target price on Rapid7 from $27.00 to $25.00 and set a "neutral" rating for the company in a research note on Friday. Finally, Raymond James Financial set a $30.00 target price on Rapid7 and gave the company an "outperform" rating in a research note on Friday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Rapid7 presently has an average rating of "Hold" and an average price target of $28.56.

Rapid7 Stock Down 9.8%

Shares of NASDAQ:RPD opened at $17.88 on Monday. 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 has a 52-week low of $17.83 and a 52-week high of $44.48. The company has a 50 day moving average of $22.87 and a two-hundred day moving average of $26.31. The company has a market capitalization of $1.15 billion, a price-to-earnings 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 net margin of 3.41% and a return on equity of 269.59%. The company had revenue of $214.19 million during the quarter, compared to the consensus estimate of $212.17 million. During the same quarter last year, the company earned $0.58 earnings per share. Rapid7's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, analysts forecast that Rapid7 will post 0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. New York State Teachers Retirement System acquired a new position in shares of Rapid7 during the first quarter valued at $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Rapid7 during the first quarter valued at $38,000. Versant Capital Management Inc increased its holdings in shares of Rapid7 by 5,311.1% during the first 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. Ostrum Asset Management increased its holdings in shares of Rapid7 by 45.3% during the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock valued at $100,000 after purchasing an additional 772 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Rapid7 during the first quarter valued at $74,000. 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.

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