Several other equities research analysts have also issued reports on the company. Raymond James raised their price objective on Rapid7 from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, August 4th. KeyCorp dropped their price objective on shares of Rapid7 from $129.00 to $92.00 and set an “overweight” rating for the company in a research note on Friday, July 22nd. Morgan Stanley reduced their target price on shares of Rapid7 from $95.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 4th. Needham & Company LLC dropped their price target on shares of Rapid7 from $155.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, August 4th. Finally, Royal Bank of Canada cut their price target on shares of Rapid7 from $140.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, August 1st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Rapid7 currently has an average rating of “Moderate Buy” and an average target price of $106.36.
Rapid7 Stock Down 1.6 %
NASDAQ RPD traded down $0.79 during trading on Tuesday, hitting $50.13. 755,872 shares of the stock traded hands, compared to its average volume of 622,528. The company has a market capitalization of $2.92 billion, a P/E ratio of -17.17 and a beta of 1.30. Rapid7 has a 12-month low of $48.56 and a 12-month high of $145.00. The firm has a 50-day simple moving average of $62.84 and a 200-day simple moving average of $78.30.
Rapid7 (NASDAQ:RPD – Get Rating) last posted its earnings results on Wednesday, August 3rd. The technology company reported ($0.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.03. The business had revenue of $167.46 million during the quarter, compared to analysts’ expectations of $164.36 million. As a group, research analysts predict that Rapid7 will post -2 EPS for the current fiscal year.
Institutional Trading of Rapid7
Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Rapid7 by 1.9% in the first quarter. Vanguard Group Inc. now owns 5,281,948 shares of the technology company’s stock worth $587,565,000 after buying an additional 96,883 shares in the last quarter. Wasatch Advisors Inc. raised its position in shares of Rapid7 by 11.0% in the 1st quarter. Wasatch Advisors Inc. now owns 2,454,833 shares of the technology company’s stock worth $273,076,000 after acquiring an additional 243,040 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Rapid7 by 5.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,039,366 shares of the technology company’s stock worth $136,229,000 after purchasing an additional 99,953 shares during the last quarter. Pictet Asset Management SA boosted its position in Rapid7 by 4.7% during the second quarter. Pictet Asset Management SA now owns 1,730,701 shares of the technology company’s stock valued at $115,611,000 after purchasing an additional 77,350 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in Rapid7 by 5.8% in the first quarter. Capital Research Global Investors now owns 1,603,819 shares of the technology company’s stock valued at $178,409,000 after purchasing an additional 87,700 shares during the last quarter.
Rapid7, Inc provides cyber security solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cyber security risk management programs. Its platform includes InsightIDR, an incident detection and response solution; InsightCloudSec, a solution that integrates posture management, workload protection, infrastructure entitlements management, infrastructure-as-code security, and Kubernetes protection; InsightVM, a vulnerability risk management solution that is designed to provide a way to collect vulnerability data, prioritize risk, and automate remediation; InsightAppSec, which provides application security testing that analyzes web applications for security vulnerabilities; and InsightConnect, a security orchestration and automation response solution that is used by security professionals.
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