In a report issued on August 1, Saket Kalia from Barclays maintained a Buy rating on Rapid7 (RPD), with a price target of $70. The company’s shares closed on Friday at $57.91.
According to TipRanks.com, Kalia is a 5-star analyst with an average return of 11.8% and a 55.5% success rate. Kalia covers the Technology sector, focusing on stocks such as CyberArk Software, SecureWorks Corp, and Varonis Systems.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Rapid7 with a $69.56 average price target, a 20.1% upside from current levels. In a report issued on July 18, Raymond James also maintained a Buy rating on the stock with a $74 price target.
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Based on Rapid7’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $13.42 million. In comparison, last year the company had a GAAP net loss of $14.33 million.
Based on the recent corporate insider activity of 91 insiders, corporate insider sentiment is negative on the stock.
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Rapid7, Inc. engages in the provision of cyber security analytics and automation services. Its product includes insight platform, which offers InsightVM, InsightIDR, InsightAppSec, and InsightConnect. The company was founded by Alan P. Matthews, Tas Giakouminakis and Chad Loder in July 2000 and is headquartered in Boston, MA.