Rapid7 Inc (RPD) Receives Consensus Recommendation of “Buy” from Analysts

Rapid7 Inc (NASDAQ:RPD) has earned a consensus rating of “Buy” from the seventeen brokerages that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $36.00.

Several research firms have recently commented on RPD. Morgan Stanley set a $35.00 target price on shares of Rapid7 and gave the stock a “hold” rating in a report on Wednesday, November 7th. Stifel Nicolaus boosted their target price on shares of Rapid7 from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Needham & Company LLC boosted their target price on shares of Rapid7 from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, September 21st. BidaskClub raised shares of Rapid7 from a “buy” rating to a “strong-buy” rating in a report on Thursday. Finally, Zacks Investment Research raised shares of Rapid7 from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Wednesday, October 10th.

NASDAQ:RPD traded down $0.31 during trading hours on Friday, hitting $35.28. 4,474 shares of the stock traded hands, compared to its average volume of 401,180. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.83 and a quick ratio of 1.83. Rapid7 has a 1 year low of $20.14 and a 1 year high of $39.40. The company has a market capitalization of $1.67 billion, a P/E ratio of -33.38 and a beta of 0.85.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Tuesday, November 6th. The technology company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.05. Rapid7 had a negative net margin of 23.83% and a negative return on equity of 76.86%. The business had revenue of $62.40 million for the quarter, compared to the consensus estimate of $59.50 million. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. The company’s revenue for the quarter was up 23.6% on a year-over-year basis. On average, sell-side analysts anticipate that Rapid7 will post -1.02 earnings per share for the current fiscal year.

In other Rapid7 news, CFO Jeffrey Kalowski sold 10,012 shares of the business’s stock in a transaction on Friday, November 9th. The shares were sold at an average price of $34.22, for a total transaction of $342,610.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Andrew F. Burton sold 6,780 shares of the business’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $31.79, for a total transaction of $215,536.20. The disclosure for this sale can be found here. Insiders sold 2,221,685 shares of company stock worth $73,293,780 in the last 90 days. 25.60% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of RPD. Rhumbline Advisers grew its stake in shares of Rapid7 by 40.9% during the second quarter. Rhumbline Advisers now owns 34,349 shares of the technology company’s stock worth $969,000 after buying an additional 9,963 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Rapid7 by 40.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 200,728 shares of the technology company’s stock worth $5,665,000 after purchasing an additional 58,205 shares during the period. BlackRock Inc. lifted its holdings in shares of Rapid7 by 64.5% during the second quarter. BlackRock Inc. now owns 2,557,393 shares of the technology company’s stock worth $72,171,000 after purchasing an additional 1,002,292 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of Rapid7 by 44.6% during the second quarter. Great West Life Assurance Co. Can now owns 75,471 shares of the technology company’s stock worth $2,135,000 after purchasing an additional 23,284 shares during the period. Finally, BlueMountain Capital Management LLC lifted its holdings in shares of Rapid7 by 38.5% during the second quarter. BlueMountain Capital Management LLC now owns 19,599 shares of the technology company’s stock worth $553,000 after purchasing an additional 5,453 shares during the period. Institutional investors and hedge funds own 83.43% of the company’s stock.

Rapid7 Company Profile

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.

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Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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