Rapid7 (NASDAQ:RPD) Price Target Raised to $54.00 at Citigroup

Rapid7 (NASDAQ:RPD) had its price objective lifted by Citigroup from $50.00 to $54.00 in a report published on Tuesday morning, FlyOnTheWall reports.

RPD has been the subject of a number of other research reports. William Blair restated an outperform rating on shares of Rapid7 in a report on Wednesday, May 10th. JPMorgan Chase & Co. increased their target price on Rapid7 from $50.00 to $52.00 and gave the company a neutral rating in a research note on Wednesday, August 9th. Canaccord Genuity Group increased their target price on Rapid7 from $45.00 to $52.00 and gave the company a hold rating in a research note on Thursday, August 24th. Mizuho increased their target price on Rapid7 from $49.00 to $52.00 in a research note on Wednesday, August 9th. Finally, DA Davidson reduced their target price on Rapid7 from $46.00 to $43.00 in a research note on Wednesday, May 10th. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Rapid7 currently has a consensus rating of Hold and an average price target of $50.63.

Rapid7 Stock Down 0.1 %

Shares of RPD stock opened at $47.91 on Tuesday. Rapid7 has a fifty-two week low of $26.49 and a fifty-two week high of $61.12. The stock has a market cap of $2.92 billion, a P/E ratio of -21.68 and a beta of 1.07. The business has a fifty day simple moving average of $44.98 and a 200-day simple moving average of $45.79.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Tuesday, August 8th. The technology company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.08. The company had revenue of $190.42 million for the quarter, compared to analysts’ expectations of $188.02 million. On average, sell-side analysts anticipate that Rapid7 will post -0.61 earnings per share for the current year.

Insider Buying and Selling at Rapid7

In other Rapid7 news, Director Marc Evan Brown sold 11,601 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $47.56, for a total value of $551,743.56. Following the sale, the director now owns 32,564 shares of the company’s stock, valued at approximately $1,548,743.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

Several hedge funds and other institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC lifted its position in shares of Rapid7 by 9.1% during the 1st quarter. HighTower Advisors LLC now owns 2,354 shares of the technology company’s stock worth $261,000 after buying an additional 196 shares during the period. Ameritas Investment Partners Inc. raised its position in Rapid7 by 4.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,958 shares of the technology company’s stock valued at $224,000 after purchasing an additional 232 shares during the last quarter. Harbor Investment Advisory LLC raised its position in Rapid7 by 27.7% in the 2nd quarter. Harbor Investment Advisory LLC now owns 1,184 shares of the technology company’s stock valued at $54,000 after purchasing an additional 257 shares during the last quarter. Huntington National Bank raised its position in Rapid7 by 45.3% in the 4th quarter. Huntington National Bank now owns 843 shares of the technology company’s stock valued at $29,000 after purchasing an additional 263 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in Rapid7 by 2.0% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 13,992 shares of the technology company’s stock valued at $642,000 after purchasing an additional 271 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

Rapid7 Company Profile

Rapid7, Inc provides cybersecurity solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cybersecurity risk management programs. Its platform includes InsightIDR, an incident detection and response solution; InsightCloudSec, a cloud risk and compliance management platform; InsightVM helps organizations to discover and remediate vulnerability risk across their network; InsightAppSec that provides dynamic application security testing; and InsightConnect, a security orchestration and automation response solution.