Rapid7 (NASDAQ:RPD) Now Covered by Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Rapid7 (NASDAQ:RPD) in a research note issued to investors on Wednesday morning, MarketBeat reports. The firm issued a buy rating and a $50.00 price target on the technology company’s stock.

A number of other research firms have also recently issued reports on RPD. Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and lowered their target price for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. Piper Sandler decreased their price objective on Rapid7 from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Scotiabank cut their target price on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada cut shares of Rapid7 from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $50.00 to $40.00 in a research note on Friday, September 20th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research report on Wednesday, August 7th. Fourteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $46.35.

Rapid7 Stock Down 1.0 %

RPD opened at $39.80 on Wednesday. The company has a fifty day simple moving average of $37.25 and a 200 day simple moving average of $39.51. The stock has a market cap of $2.50 billion, a P/E ratio of -47.38 and a beta of 0.97. Rapid7 has a 12 month low of $32.94 and a 12 month high of $61.88.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. Rapid7 had a negative return on equity of 67.88% and a negative net margin of 5.64%. The company had revenue of $207.99 million for the quarter, compared to analyst estimates of $204.04 million. During the same quarter last year, the firm posted ($0.33) earnings per share. Rapid7’s revenue was up 9.2% compared to the same quarter last year. On average, equities research analysts expect that Rapid7 will post 0.8 earnings per share for the current fiscal year.

Insider Activity at Rapid7

In other news, Director Reeny Sondhi sold 3,663 shares of Rapid7 stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction of $146,520.00. Following the completion of the transaction, the director now directly owns 17,460 shares in the company, valued at approximately $698,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC bought a new stake in shares of Rapid7 during the fourth quarter worth approximately $277,000. Los Angeles Capital Management LLC lifted its holdings in shares of Rapid7 by 60.9% during the first quarter. Los Angeles Capital Management LLC now owns 42,293 shares of the technology company’s stock worth $2,074,000 after buying an additional 16,001 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Rapid7 during the first quarter worth $42,000. Principal Financial Group Inc. boosted its position in shares of Rapid7 by 453.9% in the first quarter. Principal Financial Group Inc. now owns 38,764 shares of the technology company’s stock valued at $1,901,000 after acquiring an additional 31,766 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Rapid7 by 46.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,254,323 shares of the technology company’s stock valued at $61,512,000 after acquiring an additional 397,968 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.