Rapid7 (RPD) Upgraded to Strong-Buy by BidaskClub

BidaskClub upgraded shares of Rapid7 (NASDAQ:RPD) from a buy rating to a strong-buy rating in a research report released on Thursday.

A number of other equities research analysts have also weighed in on RPD. Needham & Company LLC boosted their target price on Rapid7 from $37.00 to $42.00 and gave the company a buy rating in a research note on Friday, September 21st. Stifel Nicolaus boosted their target price on Rapid7 from $42.00 to $44.00 and gave the company a buy rating in a research note on Tuesday, October 2nd. Zacks Investment Research upgraded Rapid7 from a hold rating to a buy rating and set a $40.00 price target on the stock in a report on Wednesday, October 10th. Monness Crespi & Hardt boosted their price target on Rapid7 from $38.00 to $41.00 and gave the company a buy rating in a report on Wednesday, November 7th. Finally, Morgan Stanley set a $35.00 price target on Rapid7 and gave the company a hold rating in a report on Wednesday, November 7th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Rapid7 presently has a consensus rating of Buy and an average target price of $36.13.

NASDAQ:RPD traded down $0.10 during trading hours on Thursday, hitting $35.49. 460,400 shares of the company’s stock traded hands, compared to its average volume of 401,038. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of -33.82 and a beta of 0.85. Rapid7 has a 52 week low of $21.18 and a 52 week high of $39.40. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.83 and a current ratio of 1.83.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.05. Rapid7 had a negative return on equity of 76.86% and a negative net margin of 23.83%. The company had revenue of $62.40 million during the quarter, compared to analyst estimates of $59.50 million. During the same quarter last year, the company earned ($0.15) earnings per share. The firm’s quarterly revenue was up 23.6% on a year-over-year basis. Equities analysts forecast 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 company’s stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $34.22, for a total transaction of $342,610.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Benjamin Nye sold 2,182,713 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $33.00, for a total value of $72,029,529.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,221,685 shares of company stock worth $73,293,780 in the last quarter. Company insiders own 25.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of RPD. Vanguard Group Inc boosted its position in shares of Rapid7 by 6.2% in the 3rd quarter. Vanguard Group Inc now owns 3,281,950 shares of the technology company’s stock worth $121,170,000 after purchasing an additional 190,540 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Rapid7 by 843,883.3% in the 3rd quarter. Clearbridge Investments LLC now owns 557,029 shares of the technology company’s stock worth $20,566,000 after purchasing an additional 556,963 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Rapid7 by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,281,950 shares of the technology company’s stock worth $121,170,000 after purchasing an additional 190,540 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Rapid7 by 1.2% in the 3rd quarter. Legal & General Group Plc now owns 872,983 shares of the technology company’s stock worth $32,231,000 after purchasing an additional 9,954 shares in the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of Rapid7 by 12.2% in the 3rd quarter. Teachers Advisors LLC now owns 70,416 shares of the technology company’s stock worth $2,600,000 after purchasing an additional 7,684 shares in the last quarter. Hedge funds and other institutional investors own 83.43% of the company’s stock.

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.

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