In a report issued on May 8, Matthew Hedberg from RBC Capital maintained a Buy rating on Rapid7 (RPD), with a price target of $65.00. The company’s shares closed last Friday at $48.78.
According to TipRanks.com, Hedberg is a top 100 analyst with an average return of 20.8% and a 71.7% success rate. Hedberg covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Ping Identity Holding, and CrowdStrike Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Rapid7 with a $56.50 average price target, a 9.3% upside from current levels. In a report issued on April 29, Robert W. Baird also maintained a Buy rating on the stock with a $48.00 price target.
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Based on Rapid7’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $91.65 million and GAAP net loss of $14.35 million. In comparison, last year the company earned revenue of $68.77 million and had a GAAP net loss of $13.02 million.
Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RPD in relation to earlier this year.
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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.
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