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

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

Several other brokerages have also commented on RPD. Royal Bank of Canada lowered Rapid7 from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $50.00 to $40.00 in a research note on Friday, September 20th. Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and reduced their price target for the company from $52.00 to $43.00 in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of Rapid7 from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Scotiabank cut their target price on shares of Rapid7 from $45.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Finally, 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 research report on Wednesday, August 7th. Fourteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Rapid7 presently has a consensus rating of “Hold” and an average price target of $44.59.

Rapid7 Stock Performance

Shares of RPD opened at $42.53 on Wednesday. Rapid7 has a 1 year low of $32.94 and a 1 year high of $61.88. The company’s 50 day simple moving average is $39.70 and its 200 day simple moving average is $38.49. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 67.51 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last released its earnings results on Wednesday, November 6th. The technology company reported $0.66 EPS for the quarter, beating 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 firm had revenue of $214.65 million during the quarter, compared to analyst estimates of $210.04 million. During the same period in the prior year, the firm posted $0.11 earnings per share. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. Equities analysts expect that Rapid7 will post 0.98 EPS for the current fiscal year.

Insider Buying and Selling

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the firm’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 value of $146,520.00. Following the sale, the director now owns 17,460 shares in the company, valued at approximately $698,400. This trade represents a 17.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rapid7

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