Rapid7 (NASDAQ:RPD) Upgraded at StockNews.com

StockNews.com upgraded shares of Rapid7 (NASDAQ:RPD) from a hold rating to a buy rating in a research report report published on Friday.

A number of other analysts also recently issued reports on the company. Truist Financial lowered their price target on Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research note on Thursday, February 13th. Scotiabank dropped their price target on shares of Rapid7 from $42.00 to $38.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Raymond James cut their price target on shares of Rapid7 from $55.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Citigroup decreased their price objective on shares of Rapid7 from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Fifteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Rapid7 currently has an average rating of “Hold” and a consensus target price of $41.22.

Rapid7 Stock Down 3.0 %

RPD stock opened at $31.71 on Friday. Rapid7 has a 52 week low of $31.52 and a 52 week high of $59.43. The firm has a market capitalization of $2.00 billion, a P/E ratio of 81.31 and a beta of 0.96. The company has a fifty day simple moving average of $38.49 and a two-hundred day simple moving average of $38.77.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. As a group, analysts anticipate that Rapid7 will post 0.35 EPS for the current year.

Insider Activity at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the transaction, the chief executive officer now directly owns 431,469 shares of the company’s stock, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Rapid7

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its stake in shares of Rapid7 by 30.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock worth $60,000 after acquiring an additional 347 shares in the last quarter. 1620 Investment Advisors Inc. grew its holdings in Rapid7 by 14.5% in the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock worth $111,000 after purchasing an additional 352 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in Rapid7 by 0.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company’s stock worth $2,782,000 after purchasing an additional 446 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Rapid7 by 68.8% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock worth $46,000 after purchasing an additional 455 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Rapid7 by 3,888.2% during the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after purchasing an additional 661 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

About Rapid7

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.