BidaskClub Lowers Rapid7 (RPD) to Buy

BidaskClub downgraded shares of Rapid7 (NASDAQ:RPD) from a strong-buy rating to a buy rating in a research report report published on Wednesday morning.

Other equities analysts have also recently issued research reports about the company. KeyCorp increased their target price on Rapid7 from $35.00 to $38.00 and gave the company an overweight rating in a report on Tuesday, August 7th. Monness Crespi & Hardt upped their price target on Rapid7 from $35.00 to $38.00 and gave the company a buy rating in a research report on Tuesday, August 7th. Zacks Investment Research upgraded Rapid7 from a hold rating to a buy rating and set a $40.00 price target for the company in a research report on Wednesday, October 10th. Royal Bank of Canada restated a buy rating and issued a $40.00 price target on shares of Rapid7 in a research report on Tuesday, August 7th. Finally, Needham & Company LLC upped their price target on Rapid7 from $37.00 to $42.00 and gave the company a buy rating in a research report on Friday, September 21st. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $35.79.

Shares of Rapid7 stock traded down $0.81 during mid-day trading on Wednesday, reaching $34.72. 543,214 shares of the stock traded hands, compared to its average volume of 530,601. Rapid7 has a fifty-two week low of $17.64 and a fifty-two week high of $39.40. The stock has a market capitalization of $1.74 billion, a P/E ratio of -33.07 and a beta of 1.02.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Tuesday, November 6th. The technology company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.05. Rapid7 had a negative return on equity of 89.66% and a negative net margin of 23.83%. The business had revenue of $62.40 million during the quarter, compared to analysts’ expectations of $59.50 million. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. The business’s revenue was up 23.6% compared to the same quarter last year. As a group, equities analysts forecast that Rapid7 will post -1.01 EPS for the current fiscal year.

In related news, COO Andrew F. Burton sold 7,440 shares of the stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $36.24, for a total value of $269,625.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vii Lp Tcv sold 182,600 shares of the stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $37.96, for a total value of $6,931,496.00. The disclosure for this sale can be found here. Insiders sold 235,732 shares of company stock valued at $8,852,242 over the last 90 days. Company insiders own 25.60% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its position in Rapid7 by 27.1% in the first quarter. BlackRock Inc. now owns 1,555,101 shares of the technology company’s stock worth $39,765,000 after acquiring an additional 331,186 shares during the period. UBS Group AG boosted its position in shares of Rapid7 by 176.4% during the first quarter. UBS Group AG now owns 34,783 shares of the technology company’s stock worth $889,000 after buying an additional 22,199 shares during the period. Granahan Investment Management Inc. MA boosted its position in shares of Rapid7 by 2.6% during the second quarter. Granahan Investment Management Inc. MA now owns 317,811 shares of the technology company’s stock worth $8,969,000 after buying an additional 8,141 shares during the period. MetLife Investment Advisors LLC boosted its position in shares of Rapid7 by 30.9% during the second quarter. MetLife Investment Advisors LLC now owns 16,703 shares of the technology company’s stock worth $471,000 after buying an additional 3,939 shares during the period. Finally, Sun Life Financial INC purchased a new position in shares of Rapid7 during the second quarter worth $486,000. Institutional investors own 78.69% 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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