Rapid7 (RPD) Earns Buy Rating from Analysts at Stifel Nicolaus
Stifel Nicolaus assumed coverage on shares of Rapid7 (NASDAQ:RPD) in a report released on Wednesday, MarketBeat reports. The firm issued a buy rating and a $32.00 price target on the technology company’s stock.
A number of other research analysts have also recently commented on RPD. BidaskClub upgraded Rapid7 from a sell rating to a hold rating in a research note on Wednesday, January 10th. Royal Bank of Canada lifted their target price on Rapid7 from $22.00 to $25.00 and gave the stock an outperform rating in a research report on Wednesday, November 8th. Morgan Stanley lifted their target price on Rapid7 from $20.00 to $23.00 and gave the stock an equal weight rating in a research report on Tuesday, February 13th. Needham & Company LLC reaffirmed a buy rating and set a $30.00 target price (up from $23.00) on shares of Rapid7 in a research report on Monday, February 12th. Finally, ValuEngine raised Rapid7 from a sell rating to a hold rating in a research report on Sunday, December 31st. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Rapid7 currently has an average rating of Buy and an average price target of $25.54.
Rapid7 (NASDAQ RPD) opened at $26.95 on Wednesday. The company has a market capitalization of $1,280.00 and a PE ratio of -25.19. Rapid7 has a one year low of $13.42 and a one year high of $27.23.
In related news, insider Corey E. Thomas sold 250,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $21.01, for a total value of $5,252,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lee David Weiner sold 20,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $18.41, for a total value of $368,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,349,043 shares of company stock worth $49,428,958. Corporate insiders own 56.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Crow Point Partners LLC bought a new stake in Rapid7 in the fourth quarter valued at about $119,000. Fortaleza Asset Management Inc. bought a new stake in Rapid7 in the fourth quarter valued at about $160,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Rapid7 in the third quarter valued at about $187,000. MetLife Investment Advisors LLC bought a new stake in Rapid7 in the fourth quarter valued at about $190,000. Finally, Hamilton Lane Advisors LLC bought a new stake in Rapid7 in the fourth quarter valued at about $207,000. 71.61% of the stock is owned by hedge funds and other institutional investors.
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Rapid7 Company Profile
Rapid7, Inc is a provider analytics for security and information technology (IT) operations that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The Company’s analytics enable organizations to contextualize and prioritize the threats facing their physical, virtual and cloud assets, including those posed by the behaviors of their users.
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