Rapid7 (NASDAQ:RPD) Research Coverage Started at Scotiabank

Stock analysts at Scotiabank began coverage on shares of Rapid7 (NASDAQ:RPD) in a report issued on Friday, Briefing.com reports. The brokerage set a “sector perform” rating and a $46.00 price target on the technology company’s stock. Scotiabank’s target price suggests a potential upside of 0.33% from the stock’s previous close.

Several other analysts also recently commented on RPD. StockNews.com downgraded Rapid7 from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Citigroup upgraded Rapid7 from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $54.00 to $65.00 in a research report on Tuesday, January 9th. Barclays raised their target price 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. UBS Group upgraded shares of Rapid7 from a “neutral” rating to a “buy” rating and upped their price target for the company from $53.00 to $70.00 in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Rapid7 from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $55.56.

Rapid7 Trading Down 1.4 %

Rapid7 stock opened at $45.85 on Friday. The firm has a market capitalization of $2.86 billion, a P/E ratio of -18.27 and a beta of 1.01. The business has a 50-day moving average of $51.54 and a 200-day moving average of $53.08. Rapid7 has a 1 year low of $39.49 and a 1 year high of $61.88.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.40 earnings per share (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 firm had revenue of $205.27 million during the quarter, compared to analysts’ expectations of $201.52 million. Research analysts anticipate that Rapid7 will post 0.86 EPS for the current fiscal year.

Insider Buying and Selling at Rapid7

In other news, COO Andrew F. Burton sold 20,653 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the transaction, the chief operating officer now directly owns 236,841 shares in the company, valued at approximately $11,541,261.93. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, COO Andrew F. Burton sold 31,727 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief operating officer now directly owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Andrew F. Burton sold 20,653 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the sale, the chief operating officer now directly owns 236,841 shares in the company, valued at $11,541,261.93. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RPD. Vanguard Group Inc. raised its holdings in shares of Rapid7 by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,041,011 shares of the technology company’s stock valued at $322,337,000 after purchasing an additional 148,440 shares during the period. First Trust Advisors LP increased its position in Rapid7 by 49.2% during the fourth quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock worth $194,668,000 after buying an additional 1,124,429 shares during the last quarter. Hawk Ridge Capital Management LP raised its stake in Rapid7 by 757.7% in the third quarter. Hawk Ridge Capital Management LP now owns 1,592,259 shares of the technology company’s stock valued at $72,894,000 after buying an additional 1,406,619 shares during the period. Wasatch Advisors LP lifted its position in shares of Rapid7 by 12.8% in the fourth quarter. Wasatch Advisors LP now owns 1,410,051 shares of the technology company’s stock valued at $80,514,000 after buying an additional 160,531 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Rapid7 by 40.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,237,023 shares of the technology company’s stock worth $56,631,000 after acquiring an additional 355,192 shares during the period. Institutional investors own 95.66% of the company’s stock.

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.