Rapid7 (NASDAQ:RPD) Given New $42.00 Price Target at Scotiabank

Rapid7 (NASDAQ:RPD) had its price objective increased by Scotiabank from $39.00 to $42.00 in a research report sent to investors on Tuesday,Benzinga reports. Scotiabank currently has a sector perform rating on the technology company’s stock.

Several other research firms also recently commented on RPD. Piper Sandler decreased their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Stifel Nicolaus restated a “hold” rating and set a $42.00 target price (down previously from $48.00) on shares of Rapid7 in a research report on Friday, January 17th. Truist Financial dropped their price target on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, November 7th. StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Finally, Citigroup dropped their price objective on Rapid7 from $50.00 to $46.00 and set a “buy” rating for the company in a report on Friday, January 17th. Fifteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Rapid7 has an average rating of “Hold” and an average price target of $43.76.

Rapid7 Stock Up 1.8 %

NASDAQ:RPD opened at $39.54 on Tuesday. Rapid7 has a 12-month low of $32.94 and a 12-month high of $61.88. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 62.76 and a beta of 0.96. The stock’s 50 day moving average price is $40.62 and its two-hundred day moving average price is $39.03.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. The business had revenue of $214.65 million for the quarter, compared to analyst estimates of $210.04 million. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. Rapid7’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.11 EPS. Equities research analysts expect that Rapid7 will post 0.98 EPS for the current year.

Institutional Trading of Rapid7

Large investors have recently bought and sold shares of the business. International Assets Investment Management LLC boosted its stake in Rapid7 by 3,888.2% during the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after acquiring an additional 661 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Rapid7 in the 3rd quarter valued at about $69,000. Point72 Hong Kong Ltd increased its position in Rapid7 by 315.0% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company’s stock valued at $90,000 after buying an additional 1,575 shares in the last quarter. 1620 Investment Advisors Inc. raised its stake in Rapid7 by 14.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock worth $111,000 after buying an additional 352 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Rapid7 by 10.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company’s stock worth $185,000 after acquiring an additional 400 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.