Rapid7 (NASDAQ:RPD) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Rapid7 (NASDAQ:RPD) from a hold rating to a buy rating in a research note issued to investors on Friday.

RPD has been the subject of several other research reports. Jefferies Financial Group initiated coverage on Rapid7 in a report on Wednesday, October 16th. They set a “buy” rating and a $50.00 price target for the company. Robert W. Baird lowered Rapid7 from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $56.00 to $45.00 in a report on Thursday, August 1st. Baird R W lowered Rapid7 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. UBS Group cut their price target on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday. Finally, DA Davidson increased their target price on shares of Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday. Fourteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Rapid7 presently has a consensus rating of “Hold” and an average price target of $44.59.

Rapid7 Trading Down 1.8 %

NASDAQ RPD traded down $0.74 during mid-day trading on Friday, hitting $40.54. The company’s stock had a trading volume of 1,005,365 shares, compared to its average volume of 848,452. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 64.35 and a beta of 0.96. The company’s 50 day simple moving average is $38.02 and its 200 day simple moving average is $38.76. Rapid7 has a twelve month low of $32.94 and a twelve month high of $61.88.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. Rapid7 had a net margin of 5.65% and a negative return on equity of 99.08%. The firm had revenue of $207.99 million during the quarter, compared to analysts’ expectations of $204.04 million. During the same period last year, the company earned ($0.33) earnings per share. The business’s revenue was up 9.2% on a year-over-year basis. As a group, research analysts forecast that Rapid7 will post 0.8 EPS for the current year.

Insider Activity at Rapid7

In other news, Director Reeny Sondhi sold 3,663 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the transaction, the director now owns 17,460 shares of the company’s stock, valued at approximately $698,400. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rapid7

A number of institutional investors and hedge funds have recently bought and sold shares of RPD. Intech Investment Management LLC purchased a new stake in Rapid7 during the third quarter valued at about $695,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Rapid7 by 36.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,951 shares of the technology company’s stock worth $3,429,000 after buying an additional 22,734 shares during the last quarter. Quest Partners LLC boosted its stake in shares of Rapid7 by 924.6% in the 3rd quarter. Quest Partners LLC now owns 8,320 shares of the technology company’s stock valued at $332,000 after purchasing an additional 7,508 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Rapid7 by 9.7% during the third quarter. Principal Financial Group Inc. now owns 47,661 shares of the technology company’s stock valued at $1,901,000 after buying an additional 4,214 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in Rapid7 by 3.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 125,678 shares of the technology company’s stock worth $5,013,000 after acquiring an additional 3,634 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Rapid7 Company Profile

Rapid7, Inc provides cybersecurity solutions under the Rapid7, Nexpose, and Metasploit brand names. The company offers endpoint to cloud data collection and sharing applications, such as Rapid7 Insight Agent, a software-based agent that is used on assets across on-premises and cloud environments to centralize and monitor data on company's platform; Rapid7 Insight Network Sensor that analyzes raw end-to-end network traffic to increase visibility into user activity, pinpoint real threats, and investigations; Rapid7 Cloud Event Data Harvesting that offers visibility into changes made to cloud resources; and third-party integrations and ecosystem, as well as orchestration and automation solutions.