Rapid7 (RPD) Price Target Raised to $61.00 at Barclays

Rapid7 (NASDAQ:RPD) had its price target lifted by Barclays from $48.00 to $61.00 in a research report released on Friday, Stock Target Advisor reports. The brokerage currently has an overweight rating on the technology company’s stock.

Other research analysts also recently issued research reports about the stock. DA Davidson raised their target price on shares of Rapid7 to $40.00 and gave the company a neutral rating in a research report on Friday, February 8th. They noted that the move was a valuation call. Mizuho began coverage on shares of Rapid7 in a research report on Tuesday, March 26th. They issued a buy rating and a $59.00 target price for the company. BTIG Research raised shares of Rapid7 from a neutral rating to a buy rating and set a $42.00 target price for the company in a research report on Tuesday, January 15th. Monness Crespi & Hardt reaffirmed a buy rating and issued a $49.00 target price (up previously from $41.00) on shares of Rapid7 in a research report on Friday, February 8th. Finally, Morgan Stanley set a $42.00 target price on shares of Rapid7 and gave the company a hold rating in a research report on Friday, February 8th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $48.13.

Shares of RPD stock opened at $51.90 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 2.00. Rapid7 has a 12-month low of $26.27 and a 12-month high of $53.87. The firm has a market cap of $2.54 billion, a PE ratio of -51.39 and a beta of 1.20.



Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Thursday, February 7th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.04. Rapid7 had a negative net margin of 22.76% and a negative return on equity of 57.61%. The company had revenue of $70.64 million during the quarter, compared to the consensus estimate of $66.66 million. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. The firm’s revenue was up 22.4% compared to the same quarter last year. On average, research analysts anticipate that Rapid7 will post -0.49 EPS for the current fiscal year.

In other news, Director Thomas E. Schodorf sold 600 shares of Rapid7 stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $51.00, for a total value of $30,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrew F. Burton sold 15,360 shares of Rapid7 stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $44.89, for a total transaction of $689,510.40. The disclosure for this sale can be found here. In the last three months, insiders sold 162,955 shares of company stock valued at $7,410,923. Insiders own 25.60% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pearl River Capital LLC acquired a new stake in shares of Rapid7 during the 4th quarter worth about $47,000. Legacy Advisors LLC acquired a new stake in Rapid7 in the 1st quarter worth about $285,000. Caxton Associates LP acquired a new stake in Rapid7 in the 4th quarter worth about $248,000. Wade G W & Inc. raised its stake in Rapid7 by 12.6% in the 4th quarter. Wade G W & Inc. now owns 8,937 shares of the technology company’s stock worth $278,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Citigroup Inc. raised its stake in Rapid7 by 7,452.8% in the 4th quarter. Citigroup Inc. now owns 10,876 shares of the technology company’s stock worth $339,000 after purchasing an additional 10,732 shares in the last quarter. Institutional investors own 86.12% of the company’s stock.

About Rapid7

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enable customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.

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Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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