Rapid7 (NASDAQ:RPD) Rating Increased to Buy at UBS Group

Rapid7 (NASDAQ:RPDGet Free Report) was upgraded by UBS Group from a “neutral” rating to a “buy” rating in a research report issued on Monday, Marketbeat reports. The firm currently has a $70.00 price objective on the technology company’s stock, up from their prior price objective of $53.00. UBS Group’s target price would suggest a potential upside of 20.46% from the stock’s previous close.

Several other analysts have also weighed in on RPD. StockNews.com initiated coverage on Rapid7 in a report on Thursday, October 5th. They issued a “hold” rating for the company. JPMorgan Chase & Co. upped their price objective on Rapid7 from $52.00 to $61.00 and gave the company a “neutral” rating in a report on Monday, December 11th. Mizuho upped their price objective on Rapid7 from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, October 16th. Citigroup upgraded Rapid7 from a “neutral” rating to a “buy” rating and upped their price objective for the company from $54.00 to $65.00 in a report on Tuesday, January 9th. Finally, Truist Financial upped their price objective on Rapid7 from $40.00 to $50.00 and gave the company a “hold” rating in a report on Friday, November 3rd. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Rapid7 currently has an average rating of “Hold” and a consensus target price of $54.75.

View Our Latest Research Report on RPD

Rapid7 Stock Performance

NASDAQ:RPD opened at $58.11 on Monday. Rapid7 has a 1 year low of $37.29 and a 1 year high of $60.15. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of -19.57 and a beta of 1.13. The business has a fifty day moving average of $55.71 and a 200-day moving average of $50.55.

Rapid7 (NASDAQ:RPDGet Free Report) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.16. The firm had revenue of $198.84 million during the quarter, compared to analyst estimates of $197.01 million. On average, equities research analysts predict that Rapid7 will post -0.26 EPS for the current year.

Insider Transactions at Rapid7

In other news, COO Andrew F. Burton sold 17,000 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $53.68, for a total transaction of $912,560.00. Following the completion of the sale, the chief operating officer now directly owns 224,038 shares of the company’s stock, valued at approximately $12,026,359.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RPD. International Assets Investment Management LLC raised its stake in shares of Rapid7 by 3,367.9% in the 4th quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock valued at $55,000 after acquiring an additional 943 shares in the last quarter. Strs Ohio increased its position in Rapid7 by 62.5% in the 2nd quarter. Strs Ohio now owns 1,300 shares of the technology company’s stock worth $58,000 after buying an additional 500 shares during the period. State of Wyoming increased its position in Rapid7 by 315.1% in the 4th quarter. State of Wyoming now owns 2,117 shares of the technology company’s stock worth $72,000 after buying an additional 1,607 shares during the period. Counterpoint Mutual Funds LLC bought a new position in Rapid7 in the 3rd quarter worth approximately $87,000. Finally, Financial Connections Group Inc. bought a new position in Rapid7 in the 4th quarter worth approximately $95,000. 95.66% of the stock is owned by institutional investors.

About Rapid7

(Get Free Report)

Rapid7, Inc provides cybersecurity solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cybersecurity risk management programs. Its platform includes InsightIDR, an incident detection and response solution; InsightCloudSec, a cloud risk and compliance management platform; InsightVM helps organizations to discover and remediate vulnerability risk across their network; InsightAppSec that provides dynamic application security testing; and InsightConnect, a security orchestration and automation response solution.

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Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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