How Analysts Feel About Rapid7, Inc. (RPD) After Forming Bullish Multiple Top?

August 9, 2018 - By Kristin Houston

Rapid7, Inc. (NASDAQ:RPD) Logo

The stock of Rapid7, Inc. (RPD) shows a multiple tops pattern with $32.95 target or 3.00 % above today’s $31.99 share price. The 8 months chart pattern indicates low risk for the $1.50B company. It was reported on Aug, 9 by Finviz.com. If the $32.95 price target is reached, the company will be worth $44.85 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 1.66% or $0.54 during the last trading session, reaching $31.99. About 744,711 shares traded or 68.98% up from the average. Rapid7, Inc. (NASDAQ:RPD) has risen 68.68% since August 9, 2017 and is uptrending. It has outperformed by 56.11% the S&P500.

Rapid7, Inc. (NASDAQ:RPD) Ratings Coverage

Among 8 analysts covering Rapid7 (NASDAQ:RPD), 5 have Buy rating, 0 Sell and 3 Hold. Therefore 63% are positive. Rapid7 has $42 highest and $23 lowest target. $32.88’s average target is 2.78% above currents $31.99 stock price. Rapid7 had 14 analyst reports since February 12, 2018 according to SRatingsIntel. Rosenblatt maintained Rapid7, Inc. (NASDAQ:RPD) rating on Monday, February 12. Rosenblatt has “Buy” rating and $28.0 target. Needham maintained Rapid7, Inc. (NASDAQ:RPD) on Monday, April 23 with “Buy” rating. The company was downgraded on Monday, June 18 by BTIG Research. The stock has “Equal-Weight” rating by Morgan Stanley on Tuesday, February 13. The firm earned “Equal-Weight” rating on Wednesday, May 9 by Morgan Stanley. The rating was maintained by KeyBanc Capital Markets on Wednesday, May 9 with “Overweight”. The firm has “Buy” rating by Cowen & Co given on Friday, April 20. The stock has “Hold” rating by DA Davidson on Tuesday, April 10. Stifel Nicolaus maintained the stock with “Buy” rating in Wednesday, May 9 report. The firm has “Overweight” rating by KeyBanc Capital Markets given on Tuesday, August 7.

More notable recent Rapid7, Inc. (NASDAQ:RPD) news were published by: Nasdaq.com which released: “Rapid7 Integrates with Microsoft Azure to Provide Visibility, Analytics, and Automation for Cloud Security” on July 17, 2018, also Seekingalpha.com with their article: “Rapid7 +12% on Q2 beats, analyst target increase” published on August 07, 2018, Benzinga.com published: “64 Stocks Moving In Tuesday’s Mid-Day Session” on August 07, 2018. More interesting news about Rapid7, Inc. (NASDAQ:RPD) were released by: Bizjournals.com and their article: “Verizon tops Amazon with Boston’s largest office lease of 2018 so far” published on July 31, 2018 as well as Benzinga.com‘s news article titled: “77 Biggest Movers From Yesterday” with publication date: August 08, 2018.

Rapid7, Inc. provides security data and analytics solutions that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The company has market cap of $1.50 billion. It offers threat exposure management solutions, including Nexpose, which enables clients to assess and remediate their exposure to cyber risk; Metasploit, a penetration testing software solution; and AppSpider, an application security testing solution. It currently has negative earnings. The firm also provides incident detection and response solutions, such as InsightIDR, a cloud based offering for incident detection and response; Managed Detection and Response, a managed service, which provides clients with attacker behavior analytics, machine learning algorithms, and threat intelligence to hunt attackers; and incident response services that provide clients with access to security experts and experience.

Rapid7, Inc. (NASDAQ:RPD) Ratings Chart

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