The Vanguard Group, Inc. recently announced the acquisition of new stake in Rapid7 Inc (NASDAQ:RPD). The institutional investor has increased its shareholding in the Technology company by 2.14% to 6.87 million shares with purchase of 0.14 million shares. This fresh investment now brings its stake to 11.17% valued currently at $371.75 million. In addition, BlackRock Fund Advisors raised its holdings by 34406.0 to 4.68 million shares. And Point72 Asset Management LP has lifted its position by 53.73% or 1.04 million shares – to 2.98 million shares.
With over 0.49 million Rapid7 Inc (RPD) shares trading Friday and a closing price of $59.58 on the day, the dollar volume was approximately $29.18 million. The shares have shown a positive half year performance of 40.19% and its price on 12/22/23 gained nearly 0.98%. Currently, there are 61.45M common shares owned by the public and among those 60.00M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 22 analysts who have offered their price forecasts for RPD have a consensus price objective of $55.69. The analysts have set the share’s price value over the next 12 months at a high of $63.00 and a low of $48.00. The average price target is -6.99% below its recent price level and a downside to the estimated low will see the stock lose -24.12% over that period. But an upside of 5.43% will see the stock hit the forecast high price target while median target price for the stock is $55.50.
Insiders at the company have transacted a total of 32 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 15 of these insider trades were purchases, accounting for 262,708 shares. Insider sales of the common stock occurred on 17 occasions, with total insider shares sold totaling 123,974 shares.
The top 3 mutual fund holders in Rapid7 Inc are First Trust NASDAQ Cybersecurity, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. First Trust NASDAQ Cybersecurity owns 2.13 million shares of the company’s stock, all valued at over $115.22 million. Vanguard Total Stock Market ETF bought 2504.0 shares to see its total holdings expand to 1.8 million shares valued at over $97.72 million and representing 2.94% of the shares outstanding. Vanguard Small Cap Index Fund bought 4607.0 shares to bring its total holdings to over 1.5 million shares at a value of $81.2 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.44% of the shares outstanding.
Shares of Rapid7 Inc (NASDAQ: RPD) opened at $58.95, down -$0.05 from a prior closing price of $59.00. However, the script later moved the day high at 60.08, up 0.98%. The company’s stock has a 5-day price change of 0.24% and 29.13% over the past three months. RPD shares are trading 75.34% year to date (YTD), with the 12-month market performance up to 73.15% higher. It has a 12-month low price of $30.54 and touched a high of $60.15 over the same period. RPD has an average intraday trading volume of 739.89K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.64%, 13.58%, and 25.66% respectively.
Institutional ownership of Rapid7 Inc (NASDAQ: RPD) shares accounts for 98.61% of the company’s 61.45M shares outstanding. Mutual fund holders own 44.72%, while other institutional holders and individual stakeholders account for 54.85% and 18.63% respectively.
It has a market capitalization of $3.66B and a beta (3y monthly) value of 1.13. The earnings-per-share (ttm) stands at -$2.98. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.77% over the week and 3.13% over the month.
Analysts forecast that Rapid7 Inc (RPD) will achieve an EPS of $0.48 for the current quarter, $0.4 for the next quarter and $1.79 for 2024. The lowest estimate earnings-per-share for the quarter is $0.46 while analysts give the company a high EPS estimate of $0.49. Comparatively, EPS for the current quarter was $0.35 a year ago. Earnings per share for the fiscal year are expected to increase by 269.05%, and 38.88% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 22 brokerage firm advisors rate Rapid7 Inc (RPD) as a “Moderate Buy” at a consensus score of 2.55. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 16 of the 22 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the RPD, a number of firms have released research notes about the stock. Susquehanna stated their Neutral rating for the stock in a research note on December 15, 2023, with the firm’s price target at $55.
