A Reversal for Rapid7, Inc. (RPD) Is Near. The Formed Wedge Up Chart Pattern

December 13, 2017 - By Stephen Andrade

The stock of Rapid7, Inc. (RPD) formed an up wedge with $20.02 target or 8.00 % above today’s $18.54 share price. The 6 months wedge indicates low risk for the $813.56M company. If the $20.02 price target is reached, the company will be worth $65.08M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 1.23% or $0.23 during the last trading session, reaching $18.54. About 191,919 shares traded. Rapid7, Inc. (NASDAQ:RPD) has risen 56.77% since December 13, 2016 and is uptrending. It has outperformed by 40.07% the S&P500.

Analysts await Rapid7, Inc. (NASDAQ:RPD) to report earnings on February, 8. They expect $-0.28 EPS, down 27.27 % or $0.06 from last year’s $-0.22 per share. After $-0.27 actual EPS reported by Rapid7, Inc. for the previous quarter, Wall Street now forecasts 3.70 % negative EPS growth.

Rapid7, Inc. (NASDAQ:RPD) Ratings Coverage

Among 13 analysts covering Rapid7 (NASDAQ:RPD), 12 have Buy rating, 0 Sell and 1 Hold. Therefore 92% are positive. Rapid7 had 29 analyst reports since August 11, 2015 according to SRatingsIntel. The firm has “Overweight” rating given on Thursday, February 11 by Barclays Capital. Northland Capital maintained Rapid7, Inc. (NASDAQ:RPD) on Friday, July 14 with “Buy” rating. The stock of Rapid7, Inc. (NASDAQ:RPD) has “Outperform” rating given on Tuesday, August 11 by Raymond James. RBC Capital Markets maintained Rapid7, Inc. (NASDAQ:RPD) rating on Wednesday, November 8. RBC Capital Markets has “Buy” rating and $25.0 target. The stock has “Buy” rating by Needham on Monday, October 23. The firm has “Buy” rating by Cowen & Co given on Wednesday, September 6. The company was initiated on Tuesday, August 11 by William Blair. The firm has “Positive” rating given on Tuesday, August 8 by Susquehanna. RBC Capital Markets maintained it with “Buy” rating and $22.0 target in Sunday, September 24 report. The rating was initiated by Rosenblatt with “Buy” on Friday, August 26.

More recent Rapid7, Inc. (NASDAQ:RPD) news were published by: Globenewswire.com which released: “Rapid7 Named a Visionary in the Gartner Magic Quadrant for Security …” on December 06, 2017. Also Globenewswire.com published the news titled: “Rapid7 to Host Investor & Analyst Day” on December 07, 2017. Globenewswire.com‘s news article titled: “Rapid7 Announces New, Consolidated Global Headquarters in Boston” with publication date: November 16, 2017 was also an interesting one.

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