UBS Group Has Lowered Expectations for Rapid7 (NASDAQ:RPD) Stock Price

Key Points

• UBS Group has lowered its target price for Rapid7's stock from $39.00 to $34.00, while still maintaining a "buy" rating, indicating a potential upside of 87.28% from its previous close.
• Despite mixed ratings from several brokerages, with one sell rating and a consensus rating of "Hold," market analysts are projecting Rapid7's earnings per share to be $0.35 for the current fiscal year.
• Rapid7's stock recently traded at $18.16, with a market capitalization of $1.17 billion, reflecting a significant decline compared to its 12-month high of $44.48.

Rapid7 (NASDAQ:RPD - Get Free Report) had its target price dropped by equities researchers at UBS Group from $39.00 to $34.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. UBS Group's price objective indicates a potential upside of 65.27% from the company's previous close.

A number of other research analysts have also weighed in on RPD. Raymond James Financial set a $30.00 target price on shares of Rapid7 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Rapid7 in a research report on Tuesday, May 13th. Wall Street Zen raised Rapid7 from a "hold" rating to a "buy" rating in a research report on Sunday, August 3rd. Susquehanna lowered their price objective on Rapid7 from $40.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Finally, Mizuho lowered their price objective on Rapid7 from $27.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday, August 8th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $27.67.

Rapid7 Stock Performance

Shares of RPD stock traded up $0.43 during trading on Friday, reaching $20.57. The company had a trading volume of 128,013 shares, compared to its average volume of 866,026. The firm's 50 day simple moving average is $22.71 and its two-hundred day simple moving average is $26.13. The company has a debt-to-equity ratio of 9.84, a current ratio of 1.36 and a quick ratio of 1.24. Rapid7 has a one year low of $17.83 and a one year high of $44.48. The company has a market capitalization of $1.32 billion, a PE ratio of 50.04 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 for the quarter, beating analysts' consensus estimates of $0.44 by $0.14. The business had revenue of $214.19 million for the quarter, compared to the consensus estimate of $212.17 million. Rapid7 had a return on equity of 149.12% and a net margin of 3.41%. The firm's revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business earned $0.58 EPS. Sell-side analysts forecast that Rapid7 will post 0.35 earnings per share for the current year.

Hedge Funds Weigh In On Rapid7

Institutional investors and hedge funds have recently bought and sold shares of the business. New York State Teachers Retirement System acquired a new position in Rapid7 in the first quarter worth $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Rapid7 in the first quarter worth $38,000. Versant Capital Management Inc boosted its stake 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 worth $39,000 after purchasing an additional 1,434 shares in the last quarter. Ostrum Asset Management boosted its stake in 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 purchasing an additional 772 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in Rapid7 in the first quarter worth $74,000. Institutional investors and hedge funds 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.