Rapid7 (NASDAQ:RPD) Price Target Raised to $60.00 at Barclays

Rapid7 (NASDAQ:RPDFree Report) had its target price raised by Barclays from $58.00 to $60.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

RPD has been the subject of a number of other reports. UBS Group upgraded Rapid7 from a neutral rating to a buy rating and upped their target price for the company from $53.00 to $70.00 in a research report on Monday, January 29th. Susquehanna began coverage on Rapid7 in a research report on Friday, December 15th. They set a neutral rating and a $55.00 target price for the company. Wolfe Research upgraded Rapid7 from a peer perform rating to an outperform rating and set a $56.00 target price for the company in a research report on Friday, November 3rd. JPMorgan Chase & Co. upped their target price on Rapid7 from $52.00 to $61.00 and gave the company a neutral rating in a research report on Monday, December 11th. Finally, Citigroup upgraded Rapid7 from a neutral rating to a buy rating and upped their price objective for the stock from $54.00 to $65.00 in a research report on Tuesday, January 9th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $56.20.

Check Out Our Latest Analysis on Rapid7

Rapid7 Price Performance

Shares of NASDAQ RPD opened at $61.47 on Thursday. The stock’s fifty day moving average price is $56.35 and its two-hundred day moving average price is $51.22. Rapid7 has a one year low of $37.29 and a one year high of $61.54. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of -24.49 and a beta of 1.04.

Rapid7 (NASDAQ:RPDGet Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.27. The firm had revenue of $205.27 million for the quarter, compared to analyst estimates of $201.52 million. Rapid7 had a negative return on equity of 1.33% and a negative net margin of 19.19%. On average, equities analysts anticipate that Rapid7 will post 0.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Rapid7

In other Rapid7 news, COO Andrew F. Burton sold 17,000 shares of the stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $53.68, for a total value of $912,560.00. Following the completion of the transaction, the chief operating officer now directly owns 224,038 shares in the company, valued at $12,026,359.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Rapid7

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LLC increased its stake in shares of Rapid7 by 26.2% in the fourth quarter. Corient Private Wealth LLC now owns 10,925 shares of the technology company’s stock valued at $624,000 after buying an additional 2,271 shares during the period. UBS Group AG increased its stake in shares of Rapid7 by 104.4% in the fourth quarter. UBS Group AG now owns 122,796 shares of the technology company’s stock valued at $7,012,000 after buying an additional 62,714 shares during the period. Norges Bank acquired a new stake in shares of Rapid7 in the fourth quarter valued at about $37,790,000. Great Lakes Advisors LLC acquired a new stake in shares of Rapid7 in the fourth quarter valued at about $2,200,000. Finally, Principal Financial Group Inc. increased its stake in shares of Rapid7 by 11.6% in the fourth quarter. Principal Financial Group Inc. now owns 6,998 shares of the technology company’s stock valued at $400,000 after buying an additional 727 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

About Rapid7

(Get Free Report)

Rapid7, Inc provides cybersecurity solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cybersecurity risk management programs. Its platform includes InsightIDR, an incident detection and response solution; InsightCloudSec, a cloud risk and compliance management platform; InsightVM helps organizations to discover and remediate vulnerability risk across their network; InsightAppSec that provides dynamic application security testing; and InsightConnect, a security orchestration and automation response solution.

Further Reading

Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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