Robert W. Baird analyst Jonathan Ruykhaver maintained a Buy rating on Rapid7 (RPD) today and set a price target of $62. The company’s shares closed yesterday at $62.07, close to its 52-week high of $62.17.
According to TipRanks.com, Ruykhaver is a 5-star analyst with an average return of 23.6% and a 77.4% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Forescout Technologies Inc, Carbon Black Inc, and Varonis Systems.
Rapid7 has an analyst consensus of Strong Buy, with a price target consensus of $62.25, implying a 0.3% upside from current levels. In a report issued on June 27, Nomura also initiated coverage with a Buy rating on the stock with a $70 price target.
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Based on Rapid7’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $11.67 million. In comparison, last year the company had a GAAP net loss of $14.33 million.
Based on the recent corporate insider activity of 92 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.