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

Rapid7 (NASDAQ:RPD) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Several other analysts also recently issued reports on the company. Royal Bank of Canada downgraded Rapid7 from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $50.00 to $40.00 in a research note on Friday, September 20th. DA Davidson boosted their target price on shares of Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a research report on Wednesday, August 7th. Jefferies Financial Group started coverage on shares of Rapid7 in a research note on Wednesday, October 16th. They issued a “buy” rating and a $50.00 price objective for the company. Finally, Canaccord Genuity Group upgraded shares of 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. Fourteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $44.59.

Rapid7 Stock Performance

Shares of RPD stock traded down $0.74 during midday trading on Friday, hitting $40.54. 1,005,345 shares of the company were exchanged, compared to its average volume of 848,452. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.88. The firm has a market capitalization of $2.54 billion, a P/E ratio of 64.35 and a beta of 0.96. The firm’s 50 day moving average price is $37.97 and its two-hundred day moving average price is $38.79.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The company had revenue of $207.99 million during the quarter, compared to analysts’ expectations of $204.04 million. Rapid7 had a negative return on equity of 99.08% and a net margin of 5.65%. The business’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.33) earnings per share. Analysts expect that Rapid7 will post 0.8 EPS for the current year.

Insider Activity at Rapid7

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

Institutional Investors Weigh In On Rapid7

Several institutional investors and hedge funds have recently made changes to their positions in RPD. Algert Global LLC raised its stake in shares of Rapid7 by 158.6% in the second quarter. Algert Global LLC now owns 121,953 shares of the technology company’s stock worth $5,272,000 after purchasing an additional 74,793 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Rapid7 by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 503,468 shares of the technology company’s stock worth $24,691,000 after buying an additional 18,907 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Rapid7 by 7,688.6% in the 2nd quarter. SG Americas Securities LLC now owns 165,196 shares of the technology company’s stock worth $7,141,000 after buying an additional 163,075 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Rapid7 in the third quarter valued at approximately $948,000. Finally, Point72 Asset Management L.P. increased its position in shares of Rapid7 by 252.0% during the second quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock valued at $164,236,000 after acquiring an additional 2,719,791 shares during 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.