Rapid7 (NASDAQ:RPD) Given New $14.00 Price Target at Barclays

Rapid7 (NASDAQ:RPD) had its target price increased by Barclays from $12.00 to $14.00 in a research note released on Thursday morning,Benzinga reports. They currently have an underweight rating on the technology company’s stock.

A number of other equities research analysts have also issued reports on the stock. Jefferies Financial Group reissued a “hold” rating and issued a $12.00 price target on shares of Rapid7 in a report on Tuesday, August 11th. Wall Street Zen raised Rapid7 from a “hold” rating to a “buy” rating in a research note on Saturday, October 3rd. DA Davidson boosted their price objective on shares of Rapid7 from $5.25 to $9.00 and gave the company an “underperform” rating in a research report on Tuesday, August 11th. Stephens reiterated a “positive” rating on shares of Rapid7 in a research report on Tuesday, August 11th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $15.00 price objective on shares of Rapid7 in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating, seventeen have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $13.92.

Rapid7 Stock Up 2.7%

Shares of RPD opened at $15.44 on Thursday. The firm has a market cap of $1.04 billion, a P/E ratio of 73.53 and a beta of 0.90. The stock has a 50 day simple moving average of $13.14 and a two-hundred day simple moving average of $9.56. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.80 and a quick ratio of 0.80. Rapid7 has a 1 year low of $4.97 and a 1 year high of $18.56.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, November 4th. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $212.40 million for the quarter, compared to analysts’ expectations of $209.05 million. Rapid7 had a net margin of 1.63% and a return on equity of 30.84%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS. On average, analysts forecast that Rapid7 will post 0.76 earnings per share for the current fiscal year.

Institutional Trading of Rapid7

Several institutional investors have recently added to or reduced their stakes in the business. Fulcrum Asset Management LLP purchased a new position in shares of Rapid7 during the 3rd quarter valued at $437,000. Ethic Inc. grew its position in shares of Rapid7 by 164.0% during the third quarter. Ethic Inc. now owns 28,416 shares of the technology company’s stock worth $347,000 after purchasing an additional 17,653 shares in the last quarter. Abacus Wealth Partners LLC purchased a new stake in Rapid7 during the 3rd quarter valued at approximately $212,000. Chicago Partners Investment Group LLC purchased a new stake in Rapid7 during the 3rd quarter valued at approximately $179,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Rapid7 in the third quarter worth $405,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Rapid7 News Summary

Here are the key news stories impacting Rapid7 this week:

• Positive Sentiment: Rapid7 reported Q3 adjusted EPS of $0.60, topping the roughly $0.45–$0.46 consensus, and revenue of $212.4 million, above expectations of $209.05 million. The earnings and sales beats likely supported investor sentiment. Rapid7 Q3 earnings and revenues top estimates
• Positive Sentiment: Piper Sandler raised its price target to $20 from $12, leaving substantial potential upside at its new target, although it kept a neutral rating. Piper Sandler recommendations
• Neutral Sentiment: Several other firms also lifted targets: Citi and RBC to $16, Truist to $15, and Scotiabank to $14.50. Their neutral, sector-perform, or hold ratings suggest analysts see the improved results but remain measured about the outlook. Truist raises Rapid7 price target
• Negative Sentiment: Revenue fell 2.5% from a year earlier, tempering the strong quarterly beat. Barclays maintained an underweight rating with a $14 target, and Scotiabank’s $14.50 target is also below the recent share price, reflecting valuation or growth concerns. Barclays recommendations

About Rapid7

Rapid7, Inc (NASDAQ:RPD) is a cybersecurity company that provides technology and services to help organizations identify, assess and manage security risk across their IT environments. Its offerings are designed to support security operations, vulnerability management, cloud security, application security and incident response.

The company’s product portfolio includes the Insight platform and solutions such as InsightVM for vulnerability risk management, InsightIDR for security detection and response, InsightCloudSec for cloud security and compliance, and InsightAppSec for application security testing.