Rapid7 (NASDAQ:RPD) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Rapid7 (NASDAQ:RPD) from a hold rating to a buy rating in a research note released on Saturday, BidAskClub reports.

Several other equities research analysts have also recently issued reports on RPD. Zacks Investment Research cut Rapid7 from a buy rating to a hold rating in a report on Wednesday, October 30th. SunTrust Banks began coverage on Rapid7 in a report on Wednesday, October 2nd. They set a buy rating and a $66.00 price objective on the stock. Monness Crespi & Hardt restated a buy rating and set a $72.00 price objective (up previously from $62.00) on shares of Rapid7 in a report on Monday, July 29th. Needham & Company LLC restated a buy rating and set a $72.00 price objective on shares of Rapid7 in a report on Tuesday, November 5th. Finally, ValuEngine cut Rapid7 from a buy rating to a hold rating in a report on Friday, September 27th. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $63.33.

Rapid7 stock traded up $1.35 during mid-day trading on Friday, hitting $54.49. 587,200 shares of the company were exchanged, compared to its average volume of 611,331. The company has a debt-to-equity ratio of 2.97, a current ratio of 1.38 and a quick ratio of 1.38. The business’s 50 day simple moving average is $49.27 and its two-hundred day simple moving average is $53.64. The company has a market capitalization of $2.64 billion, a P/E ratio of -53.95 and a beta of 1.21. Rapid7 has a 12-month low of $26.27 and a 12-month high of $66.01.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.20. Rapid7 had a negative return on equity of 40.74% and a negative net margin of 17.27%. The business had revenue of $83.20 million for the quarter, compared to analysts’ expectations of $80.11 million. During the same quarter last year, the firm earned ($0.04) earnings per share. The business’s revenue was up 33.3% on a year-over-year basis. Equities research analysts predict that Rapid7 will post -0.67 earnings per share for the current year.

In other Rapid7 news, insider Lee David Weiner sold 20,556 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $54.93, for a total transaction of $1,129,141.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Peter Kaes sold 12,881 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $50.03, for a total value of $644,436.43. Insiders sold 85,375 shares of company stock worth $4,452,498 in the last quarter. 4.90% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of RPD. Signaturefd LLC acquired a new position in shares of Rapid7 during the second quarter worth about $46,000. FNY Investment Advisers LLC acquired a new position in shares of Rapid7 during the second quarter worth about $57,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Rapid7 by 26.4% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,038 shares of the technology company’s stock worth $61,000 after purchasing an additional 217 shares in the last quarter. Point72 Hong Kong Ltd lifted its stake in shares of Rapid7 by 412.6% during the second quarter. Point72 Hong Kong Ltd now owns 2,148 shares of the technology company’s stock worth $124,000 after purchasing an additional 1,729 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Rapid7 by 1,438.9% during the third quarter. Tower Research Capital LLC TRC now owns 2,970 shares of the technology company’s stock worth $135,000 after purchasing an additional 2,777 shares in the last quarter. Institutional investors own 92.22% 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 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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