Rapid7, Inc. (NASDAQ:RPD – Free Report) – Stock analysts at DA Davidson issued their Q4 2023 earnings per share estimates for Rapid7 in a research report issued to clients and investors on Thursday, November 2nd. DA Davidson analyst R. Kessinger anticipates that the technology company will earn $0.01 per share for the quarter. The consensus estimate for Rapid7’s current full-year earnings is ($0.61) per share.
Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. increased their price target on Rapid7 from $50.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. StockNews.com started coverage on Rapid7 in a report on Thursday, October 5th. They set a “hold” rating on the stock. Citigroup increased their price objective on Rapid7 from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Tuesday, August 29th. Truist Financial increased their price objective on Rapid7 from $40.00 to $50.00 and gave the stock a “hold” rating in a report on Friday. Finally, Mizuho increased their price objective on Rapid7 from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, October 16th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rapid7 presently has a consensus rating of “Hold” and a consensus target price of $51.87.
Rapid7 Price Performance
Shares of NASDAQ:RPD opened at $51.35 on Friday. The company has a market capitalization of $3.13 billion, a PE ratio of -17.29 and a beta of 1.04. The business has a fifty day moving average price of $48.07 and a two-hundred day moving average price of $46.62. Rapid7 has a 1 year low of $26.49 and a 1 year high of $55.61.
Rapid7 (NASDAQ:RPD – Get Free Report) last announced its quarterly earnings data on Tuesday, August 8th. The technology company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.08. The business had revenue of $190.42 million during the quarter, compared to the consensus estimate of $188.02 million.
Insider Buying and Selling
In other news, Director Marc Evan Brown sold 11,601 shares of Rapid7 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 directly owns 32,564 shares in the company, valued at approximately $1,548,743.84. The sale was disclosed in a filing with the SEC, which is available through this link. 2.60% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Rapid7
Several hedge funds have recently made changes to their positions in RPD. Strs Ohio bought a new stake in shares of Rapid7 during the first quarter valued at approximately $36,000. Brown Brothers Harriman & Co. bought a new stake in shares of Rapid7 during the first quarter valued at approximately $44,000. Harbor Investment Advisory LLC boosted its position in shares of Rapid7 by 27.7% during the second 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 in the last quarter. State of Wyoming raised its stake in Rapid7 by 315.1% during the fourth quarter. State of Wyoming now owns 2,117 shares of the technology company’s stock valued at $72,000 after buying an additional 1,607 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in Rapid7 during the third quarter valued at $87,000. 95.66% of the stock is currently owned by institutional investors.
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.
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