Rapid7 (NASDAQ:RPD) Rating Increased to Buy at StockNews.com

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

Other research analysts have also issued reports about the company. Stifel Nicolaus dropped their price objective on Rapid7 from $42.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. Raymond James dropped their target price on shares of Rapid7 from $55.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Piper Sandler reduced their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a research note on Thursday, February 13th. Finally, UBS Group cut their target price on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Fifteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $41.22.

Rapid7 Stock Performance

Shares of Rapid7 stock opened at $31.71 on Friday. The firm has a market cap of $2.00 billion, a P/E ratio of 81.31 and a beta of 0.96. The firm’s 50-day simple moving average is $38.49 and its 200-day simple moving average is $38.71. Rapid7 has a twelve month low of $31.52 and a twelve month high of $59.43.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. On average, equities analysts forecast that Rapid7 will post 0.35 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Corey E. Thomas sold 100,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the sale, the chief executive officer now directly owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Shapiro Capital Management LLC raised its position in shares of Rapid7 by 295.9% in the 4th quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company’s stock valued at $51,935,000 after buying an additional 964,899 shares in the last quarter. Estuary Capital Management LP bought a new position in Rapid7 in the fourth quarter valued at approximately $20,714,000. Dendur Capital LP acquired a new position in Rapid7 during the fourth quarter valued at approximately $19,190,000. Raymond James Financial Inc. bought a new stake in Rapid7 during the fourth quarter worth $12,050,000. Finally, Marshall Wace LLP lifted its stake in Rapid7 by 144.2% during the fourth quarter. Marshall Wace LLP now owns 475,695 shares of the technology company’s stock worth $19,137,000 after purchasing an additional 280,913 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.