Rapid7

RPD · NASDAQ

$13.22+$0.00 (+0.00%)TodayMarket closed · Oct 20, 6:28 PM ET

Prev close $13.22

RPD analyst rating

HoldConsensus of 21 analysts over the last 12 months. 5% rate it a buy.

Strong buy0
Buy1
Hold16
Underperform4
Sell0

12-month price target · 21 analysts

Average $12.02 (−9.1% downside)

Low: $8.85
Now: $13.22
High: $15.75

Upgrades and downgrades

The latest rating actions, newest first

RPD analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Mizuho	Oct 15, 2026	Maintains	Neutral	$11.00 → $13.00	61%
JP Morgan	Sep 15, 2026	Downgrade	Neutral → Underweight	$12.00	58%
Susquehanna	Aug 12, 2026	Maintains	Neutral	$7.00 → $15.00	67%
Canaccord Genuity	Aug 12, 2026	Maintains	Hold	$7.00 → $14.00	60%
UBS	Aug 11, 2026	Maintains	Neutral	$7.00 → $12.00	60%
Stifel	Aug 11, 2026	Maintains	Hold	$7.00 → $13.00	72%
DA Davidson	Aug 11, 2026	Maintains	Underperform	$5.25 → $9.00	61%
RBC Capital	Aug 11, 2026	Maintains	Sector Perform	$11.00 → $12.00	61%
Scotiabank	Aug 11, 2026	Maintains	Sector Perform	$7.00 → $10.15	54%
JP Morgan	Aug 11, 2026	Maintains	Neutral	$7.00 → $12.00	58%

The case for and against

Updated Oct 14, 2026

Bull case

Rapid7 is supported by a clearer strategic pivot toward its core platform, with management reallocating resources away from non-core products through a 12% RIF and a restructuring that should improve execution, customer focus, and long-term growth quality. The company also delivered 2Q26 revenue of $211 million and ARR of $824 million, both ahead of expectations, while operating margin of 13.7% beat consensus by 170 bps and free cash flow remained solid, reinforcing the durability of the model. Although ARR still declined 2% year over year and near-term growth remains pressured, the stronger profitability profile, narrowed guidance, and path toward a 20% non-GAAP operating margin in 4Q26 support a positive fundamental outlook.

Bear case

Rapid7 is facing a fundamentally weak growth profile, as core platform ARR rose just 1% year over year and Detection & Response slowed to 5% from 7%, while non-core products continue to decline and weigh on overall ARR visibility. The company’s guidance also signals pressure, with 2026 revenue centered at $839 million, implying -2.4% year over year growth, and 3Q ARR guided to $812 million, below street expectations, suggesting execution remains uneven despite recent upside to guidance. Although free cash flow is expected to be about $130 million and operating margin is improving toward roughly 16%, intense competition in VM, cloud security, and SIEM, plus a 12% workforce reduction, underscore a defensive rather than durable growth story.

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