Royal Bank Of Canada Has Lowered Expectations for Rapid7 (NASDAQ:RPD) Stock Price

Rapid7 (NASDAQ:RPD) had its price objective reduced by equities researchers at Royal Bank Of Canada from $27.00 to $23.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the technology company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 28.64% from the company’s current price.

A number of other analysts have also recently commented on the company. Scotiabank lowered their price target on Rapid7 from $38.00 to $29.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 13th. Barclays lowered their price target on Rapid7 from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 13th. JPMorgan Chase & Co. lowered their price target on Rapid7 from $28.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, August 4th. DA Davidson reaffirmed an “underperform” rating and issued a $21.00 price target (down from $29.00) on shares of Rapid7 in a research note on Tuesday, May 13th. Finally, Stifel Nicolaus lowered their price target on Rapid7 from $29.00 to $22.00 and set a “hold” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Rapid7 has an average rating of “Hold” and an average price target of $29.22.

Rapid7 Stock Performance

Shares of NASDAQ:RPD opened at $17.88 on Friday. The stock has a market capitalization of $1.15 billion, a P/E ratio of 43.61 and a beta of 0.96. Rapid7 has a 1-year low of $17.83 and a 1-year high of $44.48. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 16.87. The business has a 50-day moving average price of $22.87 and a two-hundred day moving average price of $26.40.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Thursday, August 7th. The technology company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.14. The firm had revenue of $214.19 million during the quarter, compared to analysts’ expectations of $212.17 million. Rapid7 had a return on equity of 269.59% and a net margin of 3.41%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 EPS. Equities analysts predict that Rapid7 will post 0.35 earnings per share for the current year.

Hedge Funds Weigh In On Rapid7

A number of large investors have recently bought and sold shares of RPD. Teacher Retirement System of Texas boosted its holdings in shares of Rapid7 by 24.1% in the 1st quarter. Teacher Retirement System of Texas now owns 54,091 shares of the technology company’s stock valued at $1,434,000 after buying an additional 10,487 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Rapid7 by 18.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,548 shares of the technology company’s stock valued at $291,000 after buying an additional 1,648 shares during the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Rapid7 in the 1st quarter valued at approximately $29,000. Invesco Ltd. boosted its holdings in shares of Rapid7 by 5.4% in the 4th quarter. Invesco Ltd. now owns 36,487 shares of the technology company’s stock valued at $1,468,000 after buying an additional 1,860 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Rapid7 by 1.1% in the 1st quarter. Principal Financial Group Inc. now owns 54,915 shares of the technology company’s stock valued at $1,456,000 after buying an additional 609 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Rapid7 Company Profile

Rapid7, Inc provides cybersecurity solutions under the Rapid7, Nexpose, and Metasploit brand names. The company offers endpoint to cloud data collection and sharing applications, such as Rapid7 Insight Agent, a software-based agent that is used on assets across on-premises and cloud environments to centralize and monitor data on company's platform; Rapid7 Insight Network Sensor that analyzes raw end-to-end network traffic to increase visibility into user activity, pinpoint real threats, and investigations; Rapid7 Cloud Event Data Harvesting that offers visibility into changes made to cloud resources; and third-party integrations and ecosystem, as well as orchestration and automation solutions.