Needham & Company LLC Boosts Rapid7 (NASDAQ:RPD) Price Target to $72.00

Rapid7 (NASDAQ:RPD) had its price target hoisted by Needham & Company LLC from $60.00 to $72.00 in a report published on Monday, The Fly reports. They currently have a buy rating on the technology company’s stock.

RPD has been the topic of a number of other research reports. Northland Securities set a $75.00 price objective on Rapid7 and gave the stock a buy rating in a research report on Monday, July 15th. DA Davidson boosted their price objective on Rapid7 to $52.00 and gave the stock a neutral rating in a research report on Monday, May 6th. Barclays restated a buy rating and set a $69.00 price objective on shares of Rapid7 in a research report on Thursday, July 18th. Nomura initiated coverage on Rapid7 in a research report on Friday, June 28th. They issued a buy rating and a $70.00 price target on the stock. Finally, Royal Bank of Canada upped their price target on Rapid7 to $70.00 and gave the company an outperform rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $61.76.

Shares of RPD stock opened at $60.65 on Monday. The company has a market cap of $3.06 billion, a price-to-earnings ratio of -60.05 and a beta of 1.18. Rapid7 has a twelve month low of $26.27 and a twelve month high of $66.01. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.49 and a quick ratio of 1.49. The stock’s fifty day moving average price is $59.39.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.24. The business had revenue of $73.20 million for the quarter, compared to analyst estimates of $69.86 million. Rapid7 had a negative return on equity of 46.34% and a negative net margin of 19.35%. Rapid7’s quarterly revenue was up 34.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.19) EPS. On average, sell-side analysts anticipate that Rapid7 will post -0.61 earnings per share for the current fiscal year.

In other news, Director Timothy P. Mcadam sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $52.51, for a total value of $525,100.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Peter Kaes sold 17,500 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $52.45, for a total value of $917,875.00. The disclosure for this sale can be found here. Insiders sold a total of 129,537 shares of company stock worth $6,675,522 in the last quarter. Corporate insiders own 4.90% of the company’s stock.

Large investors have recently made changes to their positions in the company. CIBC Private Wealth Group LLC purchased a new position in Rapid7 in the 2nd quarter worth approximately $436,000. Public Employees Retirement Association of Colorado purchased a new position in Rapid7 in the 2nd quarter worth approximately $384,000. Signaturefd LLC purchased a new position in Rapid7 in the 2nd quarter worth approximately $46,000. Advisor Group Inc. raised its holdings in Rapid7 by 19.0% in the 2nd quarter. Advisor Group Inc. now owns 17,472 shares of the technology company’s stock worth $1,011,000 after acquiring an additional 2,788 shares during the last quarter. Finally, Aperio Group LLC purchased a new position in Rapid7 in the 2nd quarter worth approximately $440,000. 88.79% of the stock is currently owned by institutional investors.

Rapid7 Company Profile

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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