Rapid7 (NASDAQ:RPD) Upgraded at KeyCorp

KeyCorp upgraded shares of Rapid7 (NASDAQ:RPD) to a hold rating in a research report report published on Monday, Zacks.com reports.

RPD has been the subject of several other reports. Royal Bank of Canada decreased their target price on Rapid7 from $70.00 to $57.00 and set an outperform rating for the company in a research report on Wednesday, May 8th. Susquehanna decreased their target price on Rapid7 from $55.00 to $40.00 and set a neutral rating for the company in a research report on Monday, May 13th. Scotiabank initiated coverage on Rapid7 in a research report on Friday, April 26th. They set a sector perform rating and a $46.00 target price for the company. Truist Financial decreased their target price on Rapid7 from $50.00 to $45.00 and set a hold rating for the company in a research report on Wednesday, May 8th. Finally, StockNews.com downgraded Rapid7 from a buy rating to a hold rating in a report on Wednesday, March 6th. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Rapid7 currently has an average rating of Hold and an average target price of $51.73.

Rapid7 Stock Down 1.1 %

NASDAQ RPD opened at $36.33 on Monday. The company has a fifty day moving average of $40.57 and a two-hundred day moving average of $49.97. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -17.72 and a beta of 0.98. Rapid7 has a 52 week low of $35.08 and a 52 week high of $61.88.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. The company had revenue of $205.10 million during the quarter, compared to analyst estimates of $204.10 million. Rapid7 had a negative net margin of 15.14% and a negative return on equity of 31.09%. Equities research analysts anticipate that Rapid7 will post 0.74 EPS for the current year.

Insiders Place Their Bets

In other news, COO Andrew F. Burton sold 20,653 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the sale, the chief operating officer now owns 236,841 shares in the company, valued at $11,541,261.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rapid7

Large investors have recently modified their holdings of the business. Janney Montgomery Scott LLC boosted its position in Rapid7 by 39.6% in the third quarter. Janney Montgomery Scott LLC now owns 10,671 shares of the technology company’s stock valued at $489,000 after buying an additional 3,027 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Rapid7 by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 467,934 shares of the technology company’s stock valued at $21,422,000 after buying an additional 17,603 shares during the last quarter. Rhumbline Advisers boosted its position in Rapid7 by 2.3% in the third quarter. Rhumbline Advisers now owns 85,186 shares of the technology company’s stock valued at $3,900,000 after buying an additional 1,918 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Rapid7 by 27.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 12,726 shares of the technology company’s stock valued at $578,000 after buying an additional 2,726 shares during the last quarter. Finally, Nordea Investment Management AB purchased a new stake in Rapid7 in the third quarter valued at approximately $2,151,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

About Rapid7

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.