Rapid7 (NASDAQ:RPD) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Rapid7 (NASDAQ:RPD) from a hold rating to a buy rating in a research note issued to investors on Friday.

A number of other brokerages also recently issued reports on RPD. Jefferies Financial Group lowered their price target on Rapid7 from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a research note on Thursday, February 13th. Piper Sandler dropped their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. DA Davidson boosted their price target on shares of Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Fifteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $41.22.

Rapid7 Trading Down 3.0 %

RPD opened at $31.71 on Friday. Rapid7 has a 12-month low of $31.52 and a 12-month high of $59.43. The firm has a 50 day moving average of $38.49 and a two-hundred day moving average of $38.77. The firm has a market capitalization of $2.00 billion, a PE ratio of 81.31 and a beta of 0.96.

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

Insider Transactions at Rapid7

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position in Rapid7 by 3,888.2% in the third 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 period. Skandinaviska Enskilda Banken AB publ increased its position in shares of Rapid7 by 68.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock worth $46,000 after purchasing an additional 455 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Rapid7 by 30.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock worth $60,000 after purchasing an additional 347 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in Rapid7 in the 3rd quarter valued at about $69,000. Finally, Ostrum Asset Management lifted its position in Rapid7 by 45.3% in the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock valued at $100,000 after buying an additional 772 shares during the last quarter. 95.66% of the stock is currently owned by hedge funds and other 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.