Mizuho Increases Rapid7 (NASDAQ:RPD) Price Target to $102.00

Rapid7 (NASDAQ:RPD) had its price objective upped by research analysts at Mizuho from $80.00 to $102.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage presently has a “buy” rating on the technology company’s stock. Mizuho’s target price indicates a potential upside of 16.65% from the company’s current price.

RPD has been the topic of several other reports. BidaskClub lowered Rapid7 from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 7th. Piper Sandler lowered Rapid7 from an “overweight” rating to a “neutral” rating and set a $95.00 target price on the stock. in a research note on Monday, January 4th. They noted that the move was a valuation call. Zacks Investment Research upgraded Rapid7 from a “sell” rating to a “hold” rating in a research note on Tuesday, January 5th. Morgan Stanley boosted their price objective on Rapid7 from $71.00 to $86.00 and gave the company an “equal weight” rating in a research note on Friday, January 8th. Finally, Raymond James boosted their price objective on Rapid7 from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, November 5th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $78.50.

RPD stock opened at $87.44 on Tuesday. The stock’s fifty day simple moving average is $82.03 and its two-hundred day simple moving average is $66.65. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 4.06. Rapid7 has a 1-year low of $31.34 and a 1-year high of $94.60. The stock has a market cap of $4.53 billion, a P/E ratio of -59.89 and a beta of 1.17.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Wednesday, November 4th. The technology company reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.30). Rapid7 had a negative return on equity of 60.46% and a negative net margin of 19.87%. The business had revenue of $105.10 million during the quarter, compared to analysts’ expectations of $101.87 million. During the same period in the prior year, the firm posted $0.01 EPS. The firm’s revenue for the quarter was up 26.3% on a year-over-year basis. As a group, analysts forecast that Rapid7 will post -1.33 earnings per share for the current fiscal year.

In other news, insider Christina Luconi sold 4,589 shares of the company’s stock in a transaction dated Friday, November 20th. The stock was sold at an average price of $71.46, for a total value of $327,929.94. Following the completion of the transaction, the insider now directly owns 92,777 shares in the company, valued at approximately $6,629,844.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas E. Schodorf sold 1,625 shares of the company’s stock in a transaction dated Friday, November 27th. The stock was sold at an average price of $75.00, for a total value of $121,875.00. Following the completion of the transaction, the director now owns 27,520 shares of the company’s stock, valued at $2,064,000. The disclosure for this sale can be found here. Insiders sold a total of 69,931 shares of company stock valued at $5,142,525 over the last quarter. Company insiders own 4.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Penn Capital Management Co. Inc. lifted its position in Rapid7 by 5.8% during the third quarter. Penn Capital Management Co. Inc. now owns 113,133 shares of the technology company’s stock valued at $6,942,000 after purchasing an additional 6,229 shares in the last quarter. Dupont Capital Management Corp raised its holdings in Rapid7 by 58.7% during the third quarter. Dupont Capital Management Corp now owns 18,046 shares of the technology company’s stock valued at $1,105,000 after acquiring an additional 6,676 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Rapid7 by 8.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 312,539 shares of the technology company’s stock valued at $15,946,000 after acquiring an additional 24,943 shares during the period. Nisa Investment Advisors LLC bought a new stake in Rapid7 during the third quarter valued at about $73,000. Finally, Canada Pension Plan Investment Board bought a new stake in Rapid7 during the second quarter valued at about $1,061,000. Institutional investors own 96.17% of the company’s stock.

About Rapid7

Rapid7, Inc provides cyber security solutions. The company offers a cloud-native insight platform that enable customers to create and manage analytics-driven cyber security risk management programs. Its platform include vulnerability management solutions comprising InsightVM that is designed to provide a way to collect vulnerability data, prioritize risk, and automate remediation; InsightIDR, an incident detection and response solution; InsightAppSec provides application security testing that analyzes web applications for security vulnerabilities; and InsightConnect, a SOAR solution that is used by security professionals.

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