Needham analyst Alex Henderson assigned a Buy rating to Rapid7 (RPD) today and set a price target of $72.00. The company’s shares closed last Friday at $58.81, close to its 52-week high of $64.26.
According to TipRanks.com, Henderson is a top 100 analyst with an average return of 22.0% and a 60.7% success rate. Henderson covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Applied Optoelectronics, and Forescout Technologies.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Rapid7 with a $69.00 average price target, a 12.5% upside from current levels. In a report issued on July 23, RBC Capital also maintained a Buy rating on the stock with a $65.00 price target.
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Based on Rapid7’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $94.34 million and GAAP net loss of $22.92 million. In comparison, last year the company earned revenue of $73.19 million and had a GAAP net loss of $11.67 million.
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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.
