StockNews.com Upgrades Rapid7 (NASDAQ:RPD) to “Hold”

StockNews.com upgraded shares of Rapid7 (NASDAQ:RPDGet Rating) from a sell rating to a hold rating in a research report released on Tuesday.

Several other equities analysts also recently commented on RPD. Raymond James boosted their price objective on Rapid7 from $125.00 to $130.00 and gave the company an outperform rating in a research report on Thursday, August 4th. Barclays lowered their price objective on Rapid7 from $110.00 to $92.00 and set an overweight rating on the stock in a research report on Tuesday, July 12th. Piper Sandler reduced their target price on Rapid7 from $120.00 to $95.00 in a report on Wednesday, July 13th. Mizuho reduced their target price on Rapid7 from $95.00 to $85.00 and set a buy rating on the stock in a report on Thursday, August 4th. Finally, Morgan Stanley reduced their target price on Rapid7 from $95.00 to $80.00 and set an equal weight rating on the stock in a report on Thursday, August 4th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $106.36.

Rapid7 Trading Down 1.6 %

Rapid7 stock opened at $50.13 on Tuesday. The firm has a market cap of $2.92 billion, a price-to-earnings 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 stock has a fifty day simple moving average of $62.84 and a two-hundred day simple moving average of $78.30.

Rapid7 (NASDAQ:RPDGet Rating) last released its earnings results on Wednesday, August 3rd. The technology company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.03. The company had revenue of $167.46 million for the quarter, compared to analysts’ expectations of $164.36 million. On average, equities research analysts forecast that Rapid7 will post -2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its holdings in shares of Rapid7 by 43.6% in the second quarter. Goldman Sachs Group Inc. now owns 1,306,095 shares of the technology company’s stock valued at $87,247,000 after purchasing an additional 396,586 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Rapid7 by 51.8% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 730,851 shares of the technology company’s stock valued at $48,821,000 after purchasing an additional 249,517 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Rapid7 by 20.0% in the fourth quarter. Alliancebernstein L.P. now owns 1,468,694 shares of the technology company’s stock valued at $172,851,000 after purchasing an additional 244,379 shares during the period. Wasatch Advisors Inc. boosted its holdings in shares of Rapid7 by 11.0% in the first quarter. Wasatch Advisors Inc. now owns 2,454,833 shares of the technology company’s stock valued at $273,076,000 after purchasing an additional 243,040 shares during the period. Finally, Bank of Montreal Can boosted its holdings in shares of Rapid7 by 115.3% in the first quarter. Bank of Montreal Can now owns 390,216 shares of the technology company’s stock valued at $43,755,000 after purchasing an additional 208,938 shares during the period.

Rapid7 Company Profile

(Get Rating)

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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