Rapid7 (NASDAQ:RPD) Upgraded at Wall Street Zen

Key Points

• Rapid7 has received an upgrade from a "hold" to a "buy" rating by analysts at Wall Street Zen.
• Multiple investment firms have adjusted their price targets for Rapid7, with some setting targets as low as $21.00 while others maintain estimates around $30.00 to $40.00.
• The company reported earnings of $0.49 per share, surpassing analyst expectations, and its revenue increased by 2.5% year-over-year to $210.25 million.

Rapid7 (NASDAQ:RPD - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Sunday.

RPD has been the subject of a number of other reports. Susquehanna decreased their target price on Rapid7 from $40.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Raymond James Financial decreased their price objective on Rapid7 from $45.00 to $40.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Piper Sandler decreased their price objective on Rapid7 from $35.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. DA Davidson reaffirmed an "underperform" rating and set a $21.00 price objective (down from $29.00) on shares of Rapid7 in a research report on Tuesday, May 13th. Finally, Robert W. Baird increased their price objective on Rapid7 from $26.00 to $28.00 and gave the stock a "neutral" rating 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, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $33.16.

Rapid7 Price Performance

Shares of NASDAQ RPD opened at $20.36 on Friday. 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 has a fifty-two week low of $20.22 and a fifty-two week high of $44.48. The firm has a market capitalization of $1.31 billion, a PE ratio of 52.21 and a beta of 0.96. The stock's 50-day simple moving average is $23.19 and its 200-day simple moving average is $27.07.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its earnings results on Monday, May 12th. The technology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.12. Rapid7 had a return on equity of 2,043.18% and a net margin of 3.42%. The business had revenue of $210.25 million for the quarter, compared to analyst estimates of $208.25 million. During the same quarter last year, the company earned $0.55 EPS. The business's quarterly revenue 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.

Institutional Investors Weigh In On Rapid7

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in Rapid7 by 1.1% during the first quarter. Principal Financial Group Inc. now owns 54,915 shares of the technology company's stock worth $1,456,000 after acquiring an additional 609 shares during the last quarter. Y.D. More Investments Ltd increased its stake in Rapid7 by 12.0% during the first quarter. Y.D. More Investments Ltd now owns 5,839 shares of the technology company's stock worth $171,000 after acquiring an additional 625 shares during the last quarter. Nordea Investment Management AB increased its stake in Rapid7 by 1.0% during the second quarter. Nordea Investment Management AB now owns 78,294 shares of the technology company's stock worth $1,808,000 after acquiring an additional 753 shares during the last quarter. Ostrum Asset Management increased its stake in Rapid7 by 45.3% during the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock worth $100,000 after acquiring an additional 772 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Rapid7 by 1.6% during the second quarter. Teacher Retirement System of Texas now owns 54,981 shares of the technology company's stock worth $1,272,000 after acquiring an additional 890 shares during the last quarter. 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.

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