Truist slashes price target on Rapid7 Inc. [RPD] – find out why.

Rapid7 Inc. [NASDAQ: RPD] traded at a low on 11/03/22, posting a -22.73 loss after which it closed the day’ session at $30.19. The company report on November 2, 2022 that Rapid7 Announces Third Quarter 2022 Financial Results.

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Annualized recurring revenue (ARR) of $684 million, an increase of 24% year-over-year.

Total revenue of $176 million, up 26% year-over-year; Products revenue of $166 million, up 27% year-over-year.

The results of the trading session contributed to over 5310912 shares changing hands. Over the past one week, the price volatility of Rapid7 Inc. stands at 7.66% while the volatility over the past one month is 5.89%.

The market cap for RPD stock reached $1.80 billion, with 58.24 million shares outstanding and 57.73 million shares in the current float. Compared to the average trading volume of 722.18K shares, RPD reached a trading volume of 5310912 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Rapid7 Inc. [RPD]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RPD shares is $71.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RPD stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Truist have made an estimate for Rapid7 Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on November 03, 2022. While these analysts kept the previous recommendation, Mizuho dropped their target price from $70 to $45. The new note on the price target was released on November 03, 2022, representing the official price target for Rapid7 Inc. stock.

The Average True Range (ATR) for Rapid7 Inc. is set at 3.00, with the Price to Sales ratio for RPD stock in the period of the last 12 months amounting to 2.93. Price to Free Cash Flow for RPD in the course of the last twelve months was 63.52 with Quick ratio for the last quarter at 0.90.

How has RPD stock performed recently?

Rapid7 Inc. [RPD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -33.98. With this latest performance, RPD shares dropped by -34.91% in over the last four-week period, additionally sinking by -61.41% over the last 6 months – not to mention a drop of -76.56% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RPD stock in for the last two-week period is set at 23.97, with the RSI for the last a single of trading hit 18.27, and the three-weeks RSI is set at 27.41 for Rapid7 Inc. [RPD]. The present Moving Average for the last 50 days of trading for this stock 47.75, while it was recorded at 40.26 for the last single week of trading, and 75.46 for the last 200 days.

Rapid7 Inc. [RPD]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Rapid7 Inc. [RPD] shares currently have an operating margin of -20.97 and a Gross Margin at +66.20. Rapid7 Inc.’s Net Margin is presently recorded at -27.33.

Rapid7 Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.

Insider trade positions for Rapid7 Inc. [RPD]

There are presently around $1,783 million, in the hands of institutional investors. The top three institutional holders of RPD stocks are: VANGUARD GROUP INC with ownership of 5,381,727, which is approximately 1.889% of the company’s market cap and around 1.80% of the total institutional ownership; BLACKROCK INC., holding 4,912,878 shares of the stock with an approximate value of $148.32 million in RPD stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $108.11 million in RPD stock with ownership of nearly -2.159% of the company’s market capitalization.

Positions in Rapid7 Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 161 institutional holders increased their position in Rapid7 Inc. [NASDAQ:RPD] by around 5,300,448 shares. Additionally, 150 investors decreased positions by around 4,998,024 shares, while 39 investors held positions by with 48,746,696 shares. The mentioned changes placed institutional holdings at 59,045,168 shares, according to the latest SEC report filing. RPD stock had 37 new institutional investments in for a total of 954,428 shares, while 52 institutional investors sold positions of 431,368 shares during the same period.


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