Rapid7 (NASDAQ:RPD) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Rapid7 (NASDAQ:RPD) from a hold rating to a buy rating in a research report released on Wednesday.

Several other brokerages also recently weighed in on RPD. Piper Sandler lowered their price objective on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Baird R W cut shares of Rapid7 from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Jefferies Financial Group started coverage on Rapid7 in a report on Wednesday, October 16th. They set a “buy” rating and a $50.00 target price on the stock. DA Davidson lifted their price target on shares of Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird downgraded Rapid7 from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $56.00 to $45.00 in a report on Thursday, August 1st. Fourteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $44.59.

Rapid7 Trading Up 0.2 %

Shares of Rapid7 stock opened at $42.60 on Wednesday. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 67.62 and a beta of 0.96. Rapid7 has a 12-month low of $32.94 and a 12-month high of $61.88. The company’s 50-day moving average price is $40.01 and its 200-day moving average price is $38.56.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The business had revenue of $214.65 million for the quarter, compared to analyst estimates of $210.04 million. During the same period in the prior year, the company earned $0.11 EPS. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts predict that Rapid7 will post 0.98 earnings per share for the current year.

Insider Buying and Selling at Rapid7

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 stock was sold at an average price of $40.00, for a total value of $146,520.00. Following the sale, the director now directly owns 17,460 shares of the company’s stock, 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 is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Rapid7

A number of large investors have recently made changes to their positions in RPD. Point72 Asset Management L.P. raised its stake in shares of Rapid7 by 252.0% in 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 in the last quarter. Cannae Holdings Inc. acquired a new position in Rapid7 during the 2nd quarter worth approximately $15,130,000. Invenomic Capital Management LP purchased a new stake in shares of Rapid7 during the 3rd quarter worth $6,647,000. SG Americas Securities LLC lifted its position in shares of Rapid7 by 7,688.6% during the 2nd quarter. SG Americas Securities LLC now owns 165,196 shares of the technology company’s stock valued at $7,141,000 after acquiring an additional 163,075 shares during the period. Finally, 272 Capital LP purchased a new position in shares of Rapid7 in the second quarter valued at $6,979,000. 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.