Does This Provide a Reason to Buy Rapid7, Inc. (RPD)? The Stock Has Formed Bullish Double Top Chart Pattern

June 21, 2018 - By Winifred Garcia

Rapid7, Inc. (NASDAQ:RPD) Logo

The chart of Rapid7, Inc. (RPD) shows a double top with $34.40 target or 5.00 % above today’s $32.76 share price. The 7 months chart pattern indicates low risk for the $1.52B company. It was reported on Jun, 21 by Finviz.com. If the $34.40 price target is reached, the company will be worth $75.75M more. Double tops are rare but powerful chart patterns.

The stock decreased 0.12% or $0.04 during the last trading session, reaching $32.76. About 109,904 shares traded. Rapid7, Inc. (NASDAQ:RPD) has risen 68.68% since June 21, 2017 and is uptrending. It has outperformed by 56.11% the S&P500.

Analysts await Rapid7, Inc. (NASDAQ:RPD) to report earnings on August, 6. They expect $-0.28 EPS, down 7.69 % or $0.02 from last year’s $-0.26 per share. After $-0.33 actual EPS reported by Rapid7, Inc. for the previous quarter, Wall Street now forecasts -15.15 % EPS growth.

Rapid7, Inc. (NASDAQ:RPD) Ratings Coverage

Among 10 analysts covering Rapid7 (NASDAQ:RPD), 7 have Buy rating, 0 Sell and 3 Hold. Therefore 70% are positive. Rapid7 had 16 analyst reports since January 24, 2018 according to SRatingsIntel. Needham maintained it with “Buy” rating and $3300 target in Monday, April 23 report. The company was maintained on Wednesday, January 24 by Cowen & Co. The firm earned “Overweight” rating on Tuesday, January 30 by KeyBanc Capital Markets. The firm has “Hold” rating given on Tuesday, April 10 by DA Davidson. The rating was maintained by Cowen & Co with “Buy” on Friday, April 20. The stock has “Buy” rating by Rosenblatt on Monday, February 12. Morgan Stanley maintained the stock with “Equal-Weight” rating in Wednesday, May 9 report. The stock of Rapid7, Inc. (NASDAQ:RPD) earned “Buy” rating by BTIG Research on Friday, April 13. Morgan Stanley maintained it with “Equal-Weight” rating and $23 target in Tuesday, February 13 report. The stock of Rapid7, Inc. (NASDAQ:RPD) has “Overweight” rating given on Wednesday, May 9 by KeyBanc Capital Markets.

Another recent and important Rapid7, Inc. (NASDAQ:RPD) news was published by Prnewswire.com which published an article titled: “New Tech to Help 2 Billion People Without Bank Accounts” on June 21, 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 $1.52 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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