Citigroup Lowers Rapid7 (NASDAQ:RPD) Price Target to $46.00

Rapid7 (NASDAQ:RPD) had its target price lowered by stock analysts at Citigroup from $50.00 to $46.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Citigroup’s price target indicates a potential upside of 18.43% from the company’s current price.

RPD has been the subject of several other research reports. Stifel Nicolaus restated a “hold” rating and issued a $42.00 price target (down previously from $48.00) on shares of Rapid7 in a research note on Friday. Piper Sandler lowered their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. DA Davidson raised their price objective on shares of Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. UBS Group decreased their price objective on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their target price on Rapid7 from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Fifteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rapid7 currently has an average rating of “Hold” and a consensus target price of $43.71.

Rapid7 Trading Down 2.4 %

RPD stock opened at $38.84 on Friday. The business’s fifty day moving average price is $40.71 and its 200 day moving average price is $39.09. Rapid7 has a 12-month low of $32.94 and a 12-month high of $61.88. The company has a market capitalization of $2.46 billion, a PE ratio of 61.65 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last released its earnings results on Wednesday, November 6th. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. The company had revenue of $214.65 million during the quarter, compared to the consensus estimate of $210.04 million. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. Rapid7’s revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 EPS. Research analysts predict that Rapid7 will post 0.98 EPS for the current fiscal year.

Institutional Trading of Rapid7

Large investors have recently bought and sold shares of the business. International Assets Investment Management LLC raised its stake in Rapid7 by 3,888.2% during the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after acquiring an additional 661 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Rapid7 in the second quarter valued at approximately $35,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Rapid7 in the third quarter valued at approximately $69,000. Point72 Hong Kong Ltd raised its stake in shares of Rapid7 by 315.0% during the second quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company’s stock worth $90,000 after purchasing an additional 1,575 shares during the last quarter. Finally, 1620 Investment Advisors Inc. lifted its holdings in shares of Rapid7 by 14.5% during the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock worth $111,000 after purchasing an additional 352 shares during the period. 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.