In a report released on January 7, Matthew Hedberg from RBC Capital maintained a Buy rating on Rapid7 (RPD – Research Report), with a price target of $70.00. The company’s shares closed yesterday at $53.88.
Hedberg covers the Technology sector, focusing on stocks such as ServiceNow, Informatica, and Autodesk. According to TipRanks, Hedberg has an average return of 6.7% and a 54.56% success rate on recommended stocks.
Currently, the analyst consensus on Rapid7 is a Moderate Buy with an average price target of $57.69, implying a 7.07% upside from current levels. In a report released yesterday, Citi also upgraded the stock to a Buy with a $65.00 price target.
See today’s best-performing stocks on TipRanks >>
RPD market cap is currently $3.25B and has a P/E ratio of -17.75.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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 (RPD) Company Description:
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.
Read More on RPD:
- Rapid7 to Report Fourth Quarter and Full Year 2023 Financial Results on February 7
- Rapid7 price target raised to $58 from $52 at Barclays
- Rapid7 initiated with neutral view at Susquehanna, here’s why
- Rapid7 initiated with a Neutral at Susquehanna
- Rapid7 price target raised by $9 at JPMorgan, here’s why
