Rapid7 (NASDAQ:RPD) Earns Buy Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Rapid7 (NASDAQ:RPD) in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage 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 24.41% from the stock’s previous close.

A number of other brokerages have also recently weighed in on RPD. Robert W. Baird cut Rapid7 from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $56.00 to $45.00 in a report on Thursday, August 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a research note on Wednesday, August 7th. Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and reduced their target price for the company from $52.00 to $43.00 in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price target on shares of Rapid7 from $46.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, UBS Group cut 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. Fourteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Rapid7 currently has a consensus rating of “Hold” and an average target price of $46.35.

Rapid7 Trading Up 0.1 %

Shares of RPD opened at $40.19 on Wednesday. The stock has a 50-day moving average price of $37.17 and a 200-day moving average price of $39.57. Rapid7 has a 12-month low of $32.94 and a 12-month high of $61.88.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.06. The business had revenue of $207.99 million during the quarter, compared to analyst estimates of $204.04 million. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. Rapid7’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.33) earnings per share. As a group, research analysts expect that Rapid7 will post 0.8 earnings per share for the current year.

Insider Buying and Selling at Rapid7

In other news, Director Reeny Sondhi sold 3,663 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the completion of the sale, the director now directly owns 17,460 shares of the company’s stock, valued at approximately $698,400. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

Institutional investors have recently bought and sold shares of the stock. Fidelis Capital Partners LLC purchased a new position in shares of Rapid7 during the 1st quarter worth approximately $36,000. Quest Partners LLC bought a new stake in shares of Rapid7 during the second quarter valued at approximately $35,000. Mather Group LLC. purchased a new stake in Rapid7 in the first quarter worth $42,000. Summit Securities Group LLC bought a new position in Rapid7 in the second quarter worth $43,000. Finally, Financial Connections Group Inc. purchased a new position in Rapid7 during the second quarter valued at $72,000. 95.66% of the stock is owned by institutional investors.

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.