Analysts Set Rapid7, Inc. (NASDAQ:RPD) PT at $56.20

Rapid7, Inc. (NASDAQ:RPD) has received a consensus rating of “Hold” from the twelve research firms that are currently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $56.20.

A number of research analysts have issued reports on RPD shares. Barclays raised their price target on shares of Rapid7 from $58.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Susquehanna started coverage on shares of Rapid7 in a report on Friday, December 15th. They issued a “neutral” rating and a $55.00 price target for the company. Citigroup raised shares of Rapid7 from a “neutral” rating to a “buy” rating and raised their price target for the stock from $54.00 to $65.00 in a report on Tuesday, January 9th. JPMorgan Chase & Co. reduced their target price on shares of Rapid7 from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, February 8th. Finally, UBS Group raised shares of Rapid7 from a “neutral” rating to a “buy” rating and raised their target price for the stock from $53.00 to $70.00 in a report on Monday, January 29th.

Insider Activity at Rapid7

In other news, COO Andrew F. Burton sold 31,727 shares of Rapid7 stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total value of $1,683,751.89. Following the sale, the chief operating officer now owns 257,494 shares in the company, valued at $13,665,206.58. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Andrew F. Burton sold 31,727 shares of Rapid7 stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total value of $1,683,751.89. Following the sale, the chief operating officer now owns 257,494 shares in the company, valued at $13,665,206.58. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Andrew F. Burton sold 17,000 shares of Rapid7 stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $53.68, for a total transaction of $912,560.00. Following the completion of the sale, the chief operating officer now owns 224,038 shares in the company, valued at approximately $12,026,359.84. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rapid7

Hedge funds and other institutional investors have recently modified their holdings of the business. HighTower Advisors LLC raised its stake in Rapid7 by 9.1% during the first quarter. HighTower Advisors LLC now owns 2,354 shares of the technology company’s stock worth $261,000 after purchasing an additional 196 shares during the period. American International Group Inc. raised its stake in Rapid7 by 0.7% during the fourth quarter. American International Group Inc. now owns 30,159 shares of the technology company’s stock worth $1,722,000 after purchasing an additional 198 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its stake in Rapid7 by 1.8% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 11,829 shares of the technology company’s stock worth $538,000 after purchasing an additional 213 shares during the period. Crossmark Global Holdings Inc. raised its stake in Rapid7 by 3.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 6,838 shares of the technology company’s stock worth $390,000 after purchasing an additional 216 shares during the period. Finally, Ameritas Investment Partners Inc. raised its stake in Rapid7 by 4.9% during the second quarter. Ameritas Investment Partners Inc. now owns 4,958 shares of the technology company’s stock worth $224,000 after purchasing an additional 232 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

Rapid7 Stock Up 0.7 %

NASDAQ:RPD opened at $49.04 on Monday. Rapid7 has a 52 week low of $39.49 and a 52 week high of $61.88. The firm has a 50 day moving average of $55.12 and a 200 day moving average of $52.95. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of -19.54 and a beta of 1.03.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Wednesday, February 7th. The technology company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.27. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. The company had revenue of $205.27 million during the quarter, compared to analysts’ expectations of $201.52 million. As a group, analysts expect that Rapid7 will post 0.86 EPS for the current year.

Rapid7 Company Profile

Rapid7, Inc provides cybersecurity solutions under the Rapid7, Nexpose, and Metasploit brand names. The company offers endpoint to cloud data collection and sharing applications, such as Rapid7 Insight Agent, a software-based agent that is used on assets across on-premises and cloud environments to centralize and monitor data on company's platform; Rapid7 Insight Network Sensor that analyzes raw end-to-end network traffic to increase visibility into user activity, pinpoint real threats, and investigations; Rapid7 Cloud Event Data Harvesting that offers visibility into changes made to cloud resources; and third-party integrations and ecosystem, as well as orchestration and automation solutions.