Piper Sandler Trims Rapid7 (NASDAQ:RPD) Target Price to $42.00

Rapid7 (NASDAQ:RPD) had its target price cut by Piper Sandler from $45.00 to $42.00 in a research note published on Wednesday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

RPD has been the subject of several other research reports. Mizuho reduced their price objective on shares of Rapid7 from $62.00 to $47.00 and set a neutral rating for the company in a research note on Wednesday, May 8th. KeyCorp upgraded shares of Rapid7 to a hold rating in a research note on Monday, June 17th. Truist Financial cut their price target on shares of Rapid7 from $50.00 to $45.00 and set a hold rating on the stock in a research note on Wednesday, May 8th. Robert W. Baird lowered shares of Rapid7 from an outperform rating to a neutral rating and cut their price target for the company from $56.00 to $45.00 in a research note on Thursday, August 1st. Finally, Susquehanna cut their price target on shares of Rapid7 from $55.00 to $40.00 and set a neutral rating on the stock in a research note on Monday, May 13th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $46.75.

Rapid7 Stock Down 1.7 %

Shares of NASDAQ RPD traded down $0.61 during trading hours on Wednesday, hitting $36.16. 472,018 shares of the stock were exchanged, compared to its average volume of 829,806. The company has a market cap of $2.25 billion, a PE ratio of -17.64 and a beta of 0.98. The firm has a fifty day moving average price of $38.68 and a 200-day moving average price of $45.61. Rapid7 has a 12 month low of $32.94 and a 12 month high of $61.88.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.52 by $0.06. The firm had revenue of $207.99 million during the quarter, compared to analyst estimates of $204.04 million. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 58.27%. Rapid7’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.33) EPS. As a group, equities analysts anticipate that Rapid7 will post 0.75 earnings per share for the current fiscal year.

Institutional Trading of Rapid7

A number of hedge funds and other institutional investors have recently made changes to their positions in RPD. International Assets Investment Management LLC increased its stake in shares of Rapid7 by 3,367.9% in the fourth quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock worth $55,000 after acquiring an additional 943 shares during the period. Mutual of America Capital Management LLC boosted its holdings in Rapid7 by 5.7% during the fourth quarter. Mutual of America Capital Management LLC now owns 79,799 shares of the technology company’s stock worth $4,557,000 after buying an additional 4,316 shares in the last quarter. Cerity Partners LLC purchased a new stake in Rapid7 during the fourth quarter worth $206,000. Strs Ohio boosted its holdings in Rapid7 by 50.0% during the fourth quarter. Strs Ohio now owns 3,900 shares of the technology company’s stock worth $222,000 after buying an additional 1,300 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in Rapid7 by 1.9% during the fourth quarter. Federated Hermes Inc. now owns 509,404 shares of the technology company’s stock worth $29,087,000 after buying an additional 9,404 shares in 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.