Rapid7’s (RPD) “Hold” Rating Reiterated at Truist Financial

Rapid7 (NASDAQ:RPD)‘s stock had its “hold” rating restated by equities researchers at Truist Financial in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $15.00 price target on the technology company’s stock, up from their previous price target of $10.00. Truist Financial‘s target price suggests a potential downside of 9.37% from the stock’s previous close.

A number of other equities analysts have also commented on RPD. Morgan Stanley lowered Rapid7 from an “equal weight” rating to an “underweight” rating and set a $9.00 price objective on the stock. in a research note on Tuesday, July 21st. JPMorgan Chase & Co. downgraded shares of Rapid7 from a “neutral” rating to an “underweight” rating and set a $12.00 target price for the company. in a research report on Tuesday, September 15th. Robert W. Baird raised their price target on shares of Rapid7 from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Stifel Nicolaus boosted their price target on shares of Rapid7 from $7.00 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, August 11th. Finally, DA Davidson upped their price objective on shares of Rapid7 from $5.25 to $9.00 and gave the company an “underperform” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Rapid7 has an average rating of “Reduce” and an average target price of $12.35.

Rapid7 Trading Up 10.0%

NASDAQ RPD traded up $1.51 on Thursday, reaching $16.55. The company had a trading volume of 1,072,634 shares, compared to its average volume of 2,094,451. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 53.59 and a beta of 0.90. Rapid7 has a fifty-two week low of $4.97 and a fifty-two week high of $18.56. The business has a 50 day moving average of $13.07 and a two-hundred day moving average of $9.55. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.80 and a quick ratio of 0.80.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Wednesday, November 4th. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. The firm had revenue of $212.40 million for the quarter, compared to the consensus estimate of $209.05 million. Rapid7 had a return on equity of 27.89% and a net margin of 2.35%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 EPS. Analysts forecast that Rapid7 will post 0.76 EPS for the current year.

Institutional Investors Weigh In On Rapid7

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE bought a new position in shares of Rapid7 during the 2nd quarter worth approximately $6,861,000. Bank of New York Mellon Corp acquired a new stake in shares of Rapid7 during the 2nd quarter worth approximately $3,844,000. Man Group plc bought a new stake in shares of Rapid7 in the 2nd quarter valued at $3,409,000. Quantinno Capital Management LP increased its stake in shares of Rapid7 by 776.1% in the 1st quarter. Quantinno Capital Management LP now owns 260,359 shares of the technology company’s stock valued at $1,435,000 after acquiring an additional 230,641 shares in the last quarter. Finally, Deutsche Bank AG bought a new stake in shares of Rapid7 in the 2nd quarter valued at $1,751,000. 95.66% of the stock is currently owned by institutional investors.

Key Stories Impacting Rapid7

Here are the key news stories impacting Rapid7 this week:

• Positive Sentiment: Rapid7 earned $0.60 per share, ahead of estimates of $0.45–$0.46 and up from $0.57 a year earlier. Revenue of $212.4 million also topped the $209.1 million consensus. The results prompted favorable investor reaction. Rapid7 Q3 earnings and revenues top estimates
• Neutral Sentiment: The company expects fourth-quarter adjusted EPS of $0.53–$0.55; the provided report does not include enough analyst-consensus context to assess how that outlook compares with expectations. Rapid7 Q4 adjusted EPS outlook
• Neutral Sentiment: An article raises the question of whether the shares remain overvalued, but the supplied information does not provide its valuation analysis or conclusion. Rapid7 beat third-quarter forecasts—is the stock still overvalued?
• Negative Sentiment: Despite the quarterly revenue beat, sales were down 2.5% year over year, indicating continued pressure on growth. Rapid7 third-quarter earnings results

Rapid7 Company Profile

Rapid7, Inc (NASDAQ:RPD) is a cybersecurity company that provides technology and services to help organizations identify, assess and manage security risk across their IT environments. Its offerings are designed to support security operations, vulnerability management, cloud security, application security and incident response.

The company’s product portfolio includes the Insight platform and solutions such as InsightVM for vulnerability risk management, InsightIDR for security detection and response, InsightCloudSec for cloud security and compliance, and InsightAppSec for application security testing.