Rapid7 (NASDAQ:RPD) Given New $22.00 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus has cut the price target for Rapid7 from $29.00 to $22.00 and maintains a "hold" rating, suggesting a potential upside of 17.77% from the current stock price.
• Shares of Rapid7 fell 5.8% on Friday, reaching $18.68, with an average target price of $31.33 based on data from MarketBeat.
• The stock has seen mixed ratings from analysts, with one sell rating, thirteen hold ratings, five buy ratings, and one strong buy rating issued.

Rapid7 (NASDAQ:RPD - Get Free Report) had its price target decreased by research analysts at Stifel Nicolaus from $29.00 to $22.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "hold" rating on the technology company's stock. Stifel Nicolaus' price target suggests a potential upside of 9.24% from the company's previous close.

RPD has been the topic of a number of other research reports. Royal Bank Of Canada restated a "sector perform" rating on shares of Rapid7 in a research note on Tuesday, May 13th. Raymond James Financial lowered their price objective on Rapid7 from $45.00 to $40.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Wall Street Zen raised Rapid7 from a "hold" rating to a "buy" rating in a report on Sunday, August 3rd. Piper Sandler lowered their target price on Rapid7 from $35.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. lowered their target price on Rapid7 from $28.00 to $23.00 and set a "neutral" rating for the company in a report on Monday, August 4th. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Rapid7 has a consensus rating of "Hold" and a consensus target price of $27.67.

Rapid7 Price Performance

Rapid7 stock traded up $1.37 during mid-day trading on Friday, hitting $20.14. 1,708,136 shares of the company were exchanged, compared to its average volume of 871,514. The company has a market capitalization of $1.29 billion, a P/E ratio of 49.12 and a beta of 0.96. The company has a debt-to-equity ratio of 16.87, a current ratio of 1.24 and a quick ratio of 1.24. Rapid7 has a 12-month low of $17.83 and a 12-month high of $44.48. The business's 50 day simple moving average is $22.78 and its two-hundred day simple moving average is $26.17.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The technology company reported $0.58 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $212.17 million. During the same quarter in the previous year, the business earned $0.58 earnings per share. The business's revenue for the quarter was up 3.0% on a year-over-year basis. Analysts forecast that Rapid7 will post 0.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rapid7

Institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. lifted its holdings in shares of Rapid7 by 5.4% in the fourth quarter. Invesco Ltd. now owns 36,487 shares of the technology company's stock valued at $1,468,000 after purchasing an additional 1,860 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Rapid7 by 0.9% during the fourth quarter. Legal & General Group Plc now owns 707,556 shares of the technology company's stock worth $28,465,000 after acquiring an additional 6,269 shares in the last quarter. Bank of Nova Scotia raised its holdings in shares of Rapid7 by 8.0% during the fourth quarter. Bank of Nova Scotia now owns 129,150 shares of the technology company's stock worth $5,196,000 after acquiring an additional 9,570 shares in the last quarter. CenterBook Partners LP acquired a new position in Rapid7 during the fourth quarter worth $739,000. Finally, Quinn Opportunity Partners LLC increased its position in Rapid7 by 22.9% during the fourth quarter. Quinn Opportunity Partners LLC now owns 128,797 shares of the technology company's stock worth $5,182,000 after buying an additional 24,000 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

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.