After RBC Capital and Raymond James gave Rapid7 (NASDAQ: RPD) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Alex Henderson reiterated a Buy rating on Rapid7 today and set a price target of $110.00. The company’s shares closed last Friday at $75.21.
According to TipRanks.com, Henderson is a 5-star analyst with an average return of 24.4% and a 61.9% success rate. Henderson covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Applied Optoelectronics, and CrowdStrike Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Rapid7 with a $103.60 average price target, representing a 40.2% upside. In a report issued on April 23, RBC Capital also maintained a Buy rating on the stock with a $110.00 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 $113 million and GAAP net loss of $28.92 million. In comparison, last year the company earned revenue of $91.65 million and had a GAAP net loss of $14.35 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.
