Rapid7 (NASDAQ:RPD) Given New $42.00 Price Target at Scotiabank

by · The Markets Daily

Rapid7 (NASDAQ:RPD – Get Free Report) had its target price raised by equities research analysts at Scotiabank from $39.00 to $42.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the technology company’s stock. Scotiabank’s price objective would indicate a potential upside of 7.27% from the stock’s current price.

Several other brokerages have also issued reports on RPD. UBS Group decreased their price target on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, November 7th. StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Jefferies Financial Group started coverage on shares of Rapid7 in a research note on Wednesday, October 16th. They issued a “buy” rating and a $50.00 price target on the stock. DA Davidson boosted their price target on Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $42.00 target price (down previously from $48.00) on shares of Rapid7 in a research report on Friday. Fifteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Rapid7 has an average rating of “Hold” and an average target price of $43.76.

Get Our Latest Analysis on Rapid7

Rapid7 Stock Up 0.8 %

RPD stock traded up $0.32 during midday trading on Tuesday, reaching $39.16. The stock had a trading volume of 254,875 shares, compared to its average volume of 510,272. Rapid7 has a twelve month low of $32.94 and a twelve month high of $61.88. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of 62.18 and a beta of 0.96. The business has a fifty day simple moving average of $40.66 and a two-hundred day simple moving average of $39.05.

Rapid7 (NASDAQ:RPD – Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. The business had revenue of $214.65 million during the quarter, compared to the consensus estimate of $210.04 million. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.11 earnings per share. On average, equities analysts predict that Rapid7 will post 0.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rapid7

Hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. raised its position in shares of Rapid7 by 252.0% during the second quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock worth $164,236,000 after purchasing an additional 2,719,791 shares during the period. Geode Capital Management LLC boosted its position in shares of Rapid7 by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company’s stock valued at $58,330,000 after buying an additional 15,287 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Rapid7 by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 511,088 shares of the technology company’s stock valued at $20,387,000 after buying an additional 9,190 shares during the last quarter. Fred Alger Management LLC lifted its stake in Rapid7 by 0.3% during the 2nd quarter. Fred Alger Management LLC now owns 494,509 shares of the technology company’s stock valued at $21,378,000 after acquiring an additional 1,297 shares in the last quarter. Finally, Thematics Asset Management grew its stake in shares of Rapid7 by 33.0% in the 3rd quarter. Thematics Asset Management now owns 399,000 shares of the technology company’s stock worth $15,916,000 after acquiring an additional 99,000 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

About Rapid7

(Get Free Report)

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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