Rapid7 (NASDAQ:RPD) PT Set at $30.00 by Raymond James Financial

Key Points

• Rapid7's price target has been lowered from $40.00 to $30.00 by Raymond James Financial, with an "outperform" rating indicating a potential upside of 62.71% from the last closing price.
• The company recently reported earnings of $0.58 per share, exceeding analyst estimates and achieving a revenue of $214.19 million, marking a 3.0% year-over-year increase.
• Institutional investors hold a significant 95.66% of Rapid7's stock, indicating strong confidence from large market players despite varied analyst ratings and targets across different firms.

Raymond James Financial set a $30.00 price objective on Rapid7 (NASDAQ:RPD - Free Report) in a research report sent to investors on Friday morning, Marketbeat reports. The brokerage currently has an outperform rating on the technology company's stock.

Several other research analysts have also weighed in on the company. Susquehanna lowered their price objective on Rapid7 from $40.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Piper Sandler lowered their price target on Rapid7 from $35.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Morgan Stanley raised their price target on Rapid7 from $26.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 13th. DA Davidson restated an "underperform" rating and set a $21.00 price target (down from $29.00) on shares of Rapid7 in a research report on Tuesday, May 13th. Finally, Barclays lowered their price target on Rapid7 from $26.00 to $25.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $27.67.

Rapid7 Price Performance

Shares of RPD stock traded up $1.37 during trading hours on Friday, hitting $20.14. 1,708,136 shares of the company's stock were exchanged, compared to its average volume of 871,514. The firm has a 50 day moving average of $22.78 and a two-hundred day moving average of $26.17. Rapid7 has a fifty-two week low of $17.83 and a fifty-two week high of $44.48. The firm has a market cap of $1.29 billion, a P/E ratio of 49.12 and a beta of 0.96. 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 data on Thursday, August 7th. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping 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 company had revenue of $214.19 million for the quarter, compared to analysts' expectations of $212.17 million. During the same period in the previous year, the firm posted $0.58 EPS. Rapid7's revenue was up 3.0% compared to the same quarter last year. Sell-side analysts forecast that Rapid7 will post 0.35 EPS for the current year.

Institutional Trading of Rapid7

Hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Teachers Retirement System purchased a new position in shares of Rapid7 in the 1st quarter valued at $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Rapid7 in the 1st quarter valued at $38,000. Versant Capital Management Inc raised its position in Rapid7 by 5,311.1% in 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. DekaBank Deutsche Girozentrale acquired a new position in shares of Rapid7 during the first quarter worth about $74,000. Finally, Ostrum Asset Management boosted its position in shares of Rapid7 by 45.3% in the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock worth $100,000 after buying an additional 772 shares during the period. 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.