Rapid7 (NASDAQ:RPD) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Rapid7 (NASDAQ:RPD) in a research report issued on Wednesday, Briefing.com reports. The firm set a “buy” rating and a $50.00 price target on the technology company’s stock. Jefferies Financial Group’s price target points to a potential upside of 24.13% from the company’s current price.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reduced their price target on shares of Rapid7 from $46.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. UBS Group decreased their price target on shares of Rapid7 from $65.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Robert W. Baird lowered Rapid7 from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $56.00 to $45.00 in a research report on Thursday, August 1st. Canaccord Genuity Group raised Rapid7 from a “hold” rating to a “buy” rating and decreased their target price for the stock from $52.00 to $43.00 in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada downgraded Rapid7 from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $50.00 to $40.00 in a report on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $46.35.

Rapid7 Trading Down 0.7 %

Shares of RPD opened at $40.28 on Wednesday. Rapid7 has a twelve month low of $32.94 and a twelve month high of $61.88. The firm has a market capitalization of $2.53 billion, a P/E ratio of -47.95 and a beta of 0.97. The stock’s fifty day simple moving average is $37.03 and its 200 day simple moving average is $39.56.

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

Insider Transactions at Rapid7

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the company’s 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 sale, the director now owns 17,460 shares in the company, valued at $698,400. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Quest Partners LLC acquired a new stake in Rapid7 during the second quarter worth about $35,000. Fidelis Capital Partners LLC bought a new position in shares of Rapid7 during the first quarter valued at approximately $36,000. Mather Group LLC. acquired a new stake in shares of Rapid7 during the 1st quarter worth approximately $42,000. Summit Securities Group LLC bought a new stake in shares of Rapid7 in the 2nd quarter worth approximately $43,000. Finally, Financial Connections Group Inc. acquired a new position in Rapid7 during the 2nd quarter valued at approximately $72,000. 95.66% of the stock is currently owned by institutional investors.

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.