Truist Financial Reaffirms “Hold” Rating for Rapid7 (NASDAQ:RPD)

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 objective on the technology company’s stock, up from their previous price objective of $10.00. Truist Financial‘s price objective suggests a potential upside of 2.18% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Piper Sandler lifted their target price on Rapid7 from $8.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Robert W. Baird upped their price target on shares of Rapid7 from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Canaccord Genuity Group raised their price target on shares of Rapid7 from $7.00 to $14.00 and gave the stock a “hold” rating in a research report on Tuesday, August 11th. Raymond James Financial reiterated an “outperform” rating and issued a $15.00 price objective on shares of Rapid7 in a research note on Tuesday, August 11th. Finally, Susquehanna boosted their price objective on shares of Rapid7 from $7.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, August 12th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $13.97.

Rapid7 Stock Performance

Shares of NASDAQ RPD traded down $0.76 during trading hours on Thursday, reaching $14.68. 2,032,307 shares of the stock were exchanged, compared to its average volume of 2,045,676. The firm has a market capitalization of $989.43 million, a price-to-earnings ratio of 69.91 and a beta of 0.90. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.80 and a current ratio of 0.80. Rapid7 has a 52 week low of $4.97 and a 52 week high of $18.56. The stock’s fifty day simple moving average is $13.16 and its 200 day simple moving average is $9.57.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Wednesday, November 4th. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.14. The business had revenue of $212.40 million during the quarter, compared to analysts’ expectations of $209.05 million. Rapid7 had a return on equity of 27.89% and a net margin of 2.35%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.57 EPS. Sell-side analysts predict that Rapid7 will post 0.79 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Bank of America Corp DE acquired a new position in Rapid7 in the second quarter valued at about $6,861,000. Bank of New York Mellon Corp bought a new stake in Rapid7 during the second quarter worth about $3,844,000. Man Group plc acquired a new stake in Rapid7 during the second quarter worth about $3,409,000. Pacer Advisors Inc. grew its stake in Rapid7 by 24.3% during the first quarter. Pacer Advisors Inc. now owns 469,912 shares of the technology company’s stock worth $2,589,000 after buying an additional 91,905 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in Rapid7 by 274.1% during the fourth quarter. Hsbc Holdings PLC now owns 159,688 shares of the technology company’s stock worth $2,446,000 after buying an additional 117,000 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

Rapid7 News Roundup

Here are the key news stories impacting Rapid7 this week:

• Positive Sentiment: Rapid7 reported Q3 earnings of $0.60 per share, above consensus estimates of about $0.45–$0.46, and revenue of $212.4 million, also ahead of expectations. The earnings beat is a positive signal, although revenue was down 2.5% year over year. Rapid7 Q3 earnings
• Positive Sentiment: Several analysts raised their price targets after the results. Piper Sandler lifted its target to $20 and UBS to $19, while Susquehanna and Citigroup raised theirs to $16. These revisions suggest improved potential upside, though the firms kept neutral ratings. Read More., Read More., Read More., Read More.
• Neutral Sentiment: Other target increases were more modest: Truist raised its target to $15 and RBC to $16, while Scotiabank moved to $14.50. The accompanying hold or sector-perform ratings indicate analysts remain cautious despite the higher targets. Truist price target
• Negative Sentiment: Barclays raised its target to $14 but maintained an underweight rating, and Scotiabank’s $14.50 target is slightly below the cited $14.68 share price. These calls temper the bullish impact of the broader target revisions. Read More., Read More.

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.