Rapid7 (NASDAQ:RPD) Upgraded by StockNews.com to Buy Rating

Rapid7 (NASDAQ:RPD) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

RPD has been the topic of several other reports. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a report on Thursday, February 13th. Piper Sandler reduced their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Jefferies Financial Group reduced their price objective on Rapid7 from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. DA Davidson upped their price objective on Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Citigroup reduced their price objective on Rapid7 from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Fifteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $41.22.

Rapid7 Stock Down 3.1 %

Shares of RPD opened at $32.68 on Friday. Rapid7 has a 12-month low of $32.02 and a 12-month high of $59.43. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 83.79 and a beta of 0.96. The stock’s 50-day moving average price is $38.65 and its 200 day moving average price is $38.72.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. Equities research analysts expect that Rapid7 will post 0.35 EPS for the current year.

Insider Buying and Selling at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the sale, the chief executive officer now owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

A number of institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC grew its holdings in shares of Rapid7 by 3,888.2% during the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after purchasing an additional 661 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in Rapid7 by 68.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock valued at $46,000 after buying an additional 455 shares during the period. Pacer Advisors Inc. boosted its position in Rapid7 by 30.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after buying an additional 347 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in shares of Rapid7 in the 3rd quarter worth about $69,000. Finally, Ostrum Asset Management boosted its stake in shares of Rapid7 by 45.3% during the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock valued at $100,000 after purchasing an additional 772 shares in the last quarter. 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.