After Raymond James and Barclays gave Rapid7 (NASDAQ: RPD) a Buy rating last month, the company received another Buy, this time from RBC Capital. Analyst Matthew Hedberg maintained a Buy rating on Rapid7 yesterday and set a price target of $65.00. The company’s shares closed last Thursday at $46.28.
According to TipRanks.com, Hedberg is a top 100 analyst with an average return of 20.3% and a 71.3% success rate. Hedberg covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Ping Identity Holding, and CrowdStrike Holdings.
Rapid7 has an analyst consensus of Strong Buy, with a price target consensus of $57.58, a 26.2% upside from current levels. In a report issued on April 15, Goldman Sachs 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 79 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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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