Rapid7 Inc (NASDAQ:RPD) had its target price boosted by research analysts at Royal Bank of Canada from $19.00 to $22.00 in a research note issued on Wednesday. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 19.96% from the stock’s previous close.
A number of other brokerages also recently commented on RPD. Cowen and Company restated a “hold” rating and set a $11.50 price objective on shares of Rapid7 in a research report on Friday, April 14th. Barclays PLC increased their price target on shares of Rapid7 to $17.00 and gave the company a “buy” rating in a report on Friday, February 10th. Finally, Zacks Investment Research upgraded shares of Rapid7 from a “sell” rating to a “hold” rating in a report on Wednesday, January 11th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $17.92.
Rapid7 (NASDAQ:RPD) opened at 18.34 on Wednesday. Rapid7 has a 12-month low of $10.63 and a 12-month high of $19.29. The firm has a 50-day moving average of $16.11 and a 200-day moving average of $14.03. The stock’s market cap is $770.57 million.
Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Tuesday, May 9th. The technology company reported ($0.24) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.17. The company had revenue of $45.20 million during the quarter, compared to the consensus estimate of $44.01 million. Rapid7 had a negative net margin of 31.12% and a negative return on equity of 87.64%. Rapid7’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.23) EPS. Equities analysts predict that Rapid7 will post ($0.64) earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. bought a new position in shares of Rapid7 during the fourth quarter worth about $154,000. US Bancorp DE increased its position in shares of Rapid7 by 594.0% in the first quarter. US Bancorp DE now owns 10,965 shares of the technology company’s stock worth $165,000 after buying an additional 9,385 shares in the last quarter. TFS Capital LLC bought a new position in shares of Rapid7 during the first quarter worth about $169,000. American International Group Inc. increased its position in shares of Rapid7 by 7.1% in the first quarter. American International Group Inc. now owns 12,257 shares of the technology company’s stock worth $184,000 after buying an additional 815 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Rapid7 during the fourth quarter worth about $237,000. Institutional investors and hedge funds own 67.22% of the company’s stock.
Rapid7, Inc is a provider analytics for security and information technology (IT) operations that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The Company’s analytics enable organizations to contextualize and prioritize the threats facing their physical, virtual and cloud assets, including those posed by the behaviors of their users.