Fintel reports that on August 24, 2023, Canaccord Genuity maintained coverage of Rapid7 (NASDAQ:RPD) with a Hold recommendation.
Analyst Price Forecast Suggests 12.16% Upside
As of August 2, 2023, the average one-year price target for Rapid7 is 53.04. The forecasts range from a low of 40.40 to a high of $73.50. The average price target represents an increase of 12.16% from its latest reported closing price of 47.29.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Rapid7 is 802MM, an increase of 9.33%. The projected annual non-GAAP EPS is 0.52.
What is the Fund Sentiment?
There are 592 funds or institutions reporting positions in Rapid7. This is a decrease of 25 owner(s) or 4.05% in the last quarter. Average portfolio weight of all funds dedicated to RPD is 0.21%, an increase of 0.63%. Total shares owned by institutions decreased in the last three months by 1.65% to 64,848K shares. 
The put/call ratio of RPD is 0.93, indicating a bullish outlook.
What are Other Shareholders Doing?
First Trust Advisors holds 2,023K shares representing 3.32% ownership of the company. In it's prior filing, the firm reported owning 2,077K shares, representing a decrease of 2.66%. The firm decreased its portfolio allocation in RPD by 5.25% over the last quarter.
Point72 Asset Management holds 1,937K shares representing 3.18% ownership of the company. In it's prior filing, the firm reported owning 2,320K shares, representing a decrease of 19.77%. The firm decreased its portfolio allocation in RPD by 20.93% over the last quarter.
CIBR - First Trust NASDAQ Cybersecurity ETF holds 1,885K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 2,139K shares, representing a decrease of 13.45%. The firm increased its portfolio allocation in RPD by 10.86% over the last quarter.
Pictet Asset Management holds 1,810K shares representing 2.97% ownership of the company. In it's prior filing, the firm reported owning 1,031K shares, representing an increase of 43.06%. The firm increased its portfolio allocation in RPD by 54.40% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,742K shares representing 2.86% ownership of the company. In it's prior filing, the firm reported owning 1,700K shares, representing an increase of 2.44%. The firm increased its portfolio allocation in RPD by 27.87% over the last quarter.
Rapid7 Background Information
(This description is provided by the company.)
Rapid7 is advancing security with visibility, analytics, and automation delivered through its Insight Platform. Rapid7's solutions simplify the complex, allowing security teams to work more effectively with IT and development to reduce vulnerabilities, monitor for malicious behavior, investigate and shut down attacks, and automate routine tasks. Over 8,700 customers rely on Rapid7 technology, services, and research to improve security outcomes and securely advance their organizations.
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