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

Rapid7 (NASDAQ:RPD) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Several other research analysts have also commented on the company. UBS Group cut their price objective on Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and decreased their price target for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. DA Davidson lifted their price objective on shares of Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Baird R W cut Rapid7 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, 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 research note on Thursday, August 1st. Fourteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $44.59.

Rapid7 Price Performance

NASDAQ:RPD opened at $43.30 on Wednesday. The company has a market cap of $2.74 billion, a P/E ratio of 68.73 and a beta of 0.96. Rapid7 has a 1 year low of $32.94 and a 1 year high of $61.88. The stock’s fifty day moving average price is $39.35 and its two-hundred day moving average price is $38.43.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, November 6th. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.52 by $0.14. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The business had revenue of $214.65 million during the quarter, compared to the consensus estimate of $210.04 million. During the same quarter last year, the company earned $0.11 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. On average, analysts expect that Rapid7 will post 0.98 earnings per share for the current fiscal year.

Insider Transactions at Rapid7

In other news, Director Reeny Sondhi sold 3,663 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $40.00, for a total transaction of $146,520.00. Following the completion of the sale, the director now directly owns 17,460 shares in the company, valued at approximately $698,400. This represents a 17.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Rapid7

Institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank lifted its holdings in Rapid7 by 1.1% in the first quarter. Comerica Bank now owns 25,356 shares of the technology company’s stock worth $1,243,000 after buying an additional 281 shares during the period. Virtu Financial LLC raised its position in shares of Rapid7 by 7.1% in the 1st quarter. Virtu Financial LLC now owns 5,198 shares of the technology company’s stock worth $255,000 after acquiring an additional 346 shares in the last quarter. 1620 Investment Advisors Inc. lifted its stake in shares of Rapid7 by 14.5% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock valued at $111,000 after purchasing an additional 352 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in shares of Rapid7 by 10.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company’s stock valued at $185,000 after purchasing an additional 400 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in Rapid7 by 2.8% in the second quarter. Arizona State Retirement System now owns 17,352 shares of the technology company’s stock worth $750,000 after purchasing an additional 465 shares during the period. Hedge funds and other institutional investors 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.