Rapid7 (RPD) Now Covered by Analysts at Cowen

Cowen began coverage on shares of Rapid7 (NASDAQ:RPD) in a report published on Thursday morning, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $63.00 price target on the technology company’s stock.

RPD has been the subject of a number of other reports. Needham & Company LLC reissued a buy rating and issued a $50.00 price target (up from $42.00) on shares of Rapid7 in a report on Friday, February 8th. Barclays boosted their price target on Rapid7 from $48.00 to $61.00 and gave the stock an overweight rating in a report on Friday, April 12th. Morgan Stanley set a $53.00 price target on Rapid7 and gave the stock a hold rating in a report on Friday, May 3rd. Macquarie raised Rapid7 from a neutral rating to an outperform rating in a report on Monday, March 11th. Finally, BTIG Research boosted their price target on Rapid7 to $62.00 and gave the stock a positive rating in a report on Friday, May 3rd. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $55.19.

NASDAQ RPD opened at $52.12 on Thursday. Rapid7 has a fifty-two week low of $26.27 and a fifty-two week high of $57.00. The firm has a market capitalization of $2.51 billion, a PE ratio of -51.60 and a beta of 1.20. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 2.18.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.24. Rapid7 had a negative return on equity of 46.34% and a negative net margin of 19.35%. The company had revenue of $73.20 million during the quarter, compared to analysts’ expectations of $69.86 million. During the same period in the previous year, the firm posted ($0.19) earnings per share. The business’s revenue for the quarter was up 34.3% compared to the same quarter last year. As a group, research analysts predict that Rapid7 will post -0.61 earnings per share for the current fiscal year.

In other Rapid7 news, Director Thomas E. Schodorf sold 600 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $51.00, for a total transaction of $30,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Corey E. Thomas sold 50,000 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $51.31, for a total value of $2,565,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,887 shares of company stock valued at $7,104,136. Company insiders own 4.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Natixis Advisors L.P. grew its position in Rapid7 by 2.1% during the fourth quarter. Natixis Advisors L.P. now owns 12,767 shares of the technology company’s stock valued at $397,000 after acquiring an additional 257 shares during the period. RPg Family Wealth Advisory LLC boosted its position in shares of Rapid7 by 8.3% in the first quarter. RPg Family Wealth Advisory LLC now owns 3,790 shares of the technology company’s stock worth $192,000 after buying an additional 290 shares during the period. Private Capital Group LLC boosted its position in shares of Rapid7 by 80.4% in the first quarter. Private Capital Group LLC now owns 745 shares of the technology company’s stock worth $38,000 after buying an additional 332 shares during the period. Harvest Group Wealth Management LLC purchased a new stake in shares of Rapid7 in the first quarter worth about $25,000. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Rapid7 by 3.8% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 15,912 shares of the technology company’s stock worth $496,000 after buying an additional 581 shares during the period. 83.91% of the stock is owned by hedge funds and other institutional investors.

About Rapid7

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enable 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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