Rapid7 (RPD) Rating Lowered to Buy at BidaskClub

Rapid7 (NASDAQ:RPD) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other equities research analysts also recently commented on RPD. Stifel Nicolaus started coverage on shares of Rapid7 in a research report on Wednesday, February 28th. They issued a “buy” rating and a $32.00 price objective on the stock. ValuEngine raised shares of Rapid7 from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. DA Davidson started coverage on shares of Rapid7 in a research report on Tuesday, April 10th. They issued a “neutral” rating and a $28.00 price objective on the stock. BTIG Research began coverage on shares of Rapid7 in a research report on Friday, April 13th. They issued a “buy” rating and a $34.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of Rapid7 from a “hold” rating to a “sell” rating in a research report on Tuesday, April 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Rapid7 presently has a consensus rating of “Buy” and a consensus price target of $31.07.

Shares of NASDAQ:RPD opened at $30.40 on Friday. Rapid7 has a 52 week low of $14.74 and a 52 week high of $33.92.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Tuesday, May 8th. The technology company reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.02. Rapid7 had a negative net margin of 24.40% and a negative return on equity of 122.32%. The company had revenue of $54.52 million for the quarter, compared to the consensus estimate of $52.23 million. During the same period in the prior year, the firm posted ($0.14) EPS. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. analysts expect that Rapid7 will post -0.99 EPS for the current year.

In other Rapid7 news, COO Andrew F. Burton sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $33.62, for a total transaction of $336,200.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Lee David Weiner sold 21,875 shares of the firm’s stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $33.62, for a total transaction of $735,437.50. The disclosure for this sale can be found here. Insiders sold a total of 1,889,893 shares of company stock worth $57,041,110 over the last ninety days. Insiders own 25.60% of the company’s stock.

Institutional investors have recently modified their holdings of the business. EAM Global Investors LLC acquired a new stake in shares of Rapid7 in the 1st quarter worth $1,300,000. Suntrust Banks Inc. acquired a new stake in shares of Rapid7 in the 1st quarter worth $1,382,000. Allianz Asset Management GmbH lifted its stake in shares of Rapid7 by 535.4% in the 1st quarter. Allianz Asset Management GmbH now owns 327,900 shares of the technology company’s stock worth $8,384,000 after acquiring an additional 276,293 shares during the period. Wesbanco Bank Inc. acquired a new stake in shares of Rapid7 in the 1st quarter worth $1,211,000. Finally, Royal Bank of Canada lifted its stake in shares of Rapid7 by 336.6% in the 1st quarter. Royal Bank of Canada now owns 27,042 shares of the technology company’s stock worth $691,000 after acquiring an additional 20,848 shares during the period. 77.10% of the stock is currently owned by institutional investors.

About Rapid7

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enables customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.

Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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