Rapid7 (NASDAQ:RPD) Coverage Initiated by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Rapid7 (NASDAQ:RPDGet Rating) in a research report released on Tuesday, The Fly reports. The firm issued a neutral rating and a $38.00 price objective on the technology company’s stock.

Other equities analysts also recently issued reports about the company. Wolfe Research downgraded Rapid7 from an outperform rating to a market perform rating in a research report on Thursday, November 3rd. Canaccord Genuity Group decreased their price target on Rapid7 from $60.00 to $55.00 in a research note on Thursday, November 3rd. Mizuho decreased their price target on Rapid7 from $45.00 to $40.00 and set a neutral rating for the company in a research note on Thursday, December 8th. Royal Bank of Canada decreased their price target on Rapid7 from $57.00 to $47.00 and set an outperform rating for the company in a research note on Thursday, November 3rd. Finally, Truist Financial cut Rapid7 from a buy rating to a hold rating and decreased their price target for the company from $80.00 to $40.00 in a research note on Thursday, November 3rd. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $61.17.

Rapid7 Stock Down 5.1 %

Shares of RPD stock opened at $34.58 on Tuesday. Rapid7 has a twelve month low of $26.49 and a twelve month high of $118.25. The company has a market cap of $2.05 billion, a P/E ratio of -12.62 and a beta of 1.16. The business has a fifty day simple moving average of $32.68 and a 200 day simple moving average of $46.05.

Rapid7 (NASDAQ:RPDGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The technology company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.06. The business had revenue of $175.77 million for the quarter, compared to the consensus estimate of $176.13 million. As a group, equities research analysts anticipate that Rapid7 will post -1.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Corey E. Thomas sold 41,619 shares of Rapid7 stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $29.19, for a total transaction of $1,214,858.61. Following the sale, the chief executive officer now directly owns 428,074 shares in the company, valued at $12,495,480.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Timothy M. Adams bought 2,500 shares of the firm’s stock in a transaction on Monday, December 5th. The stock was acquired at an average cost of $30.00 per share, with a total value of $75,000.00. Following the completion of the transaction, the chief financial officer now directly owns 109,294 shares of the company’s stock, valued at approximately $3,278,820. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Corey E. Thomas sold 41,619 shares of the firm’s stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $29.19, for a total value of $1,214,858.61. Following the completion of the sale, the chief executive officer now directly owns 428,074 shares of the company’s stock, valued at $12,495,480.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 124,857 shares of company stock worth $3,923,423. 2.80% of the stock is owned by company insiders.

Institutional Trading of Rapid7

A number of large investors have recently bought and sold shares of the company. Crossmark Global Holdings Inc. increased its position in Rapid7 by 10.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 6,173 shares of the technology company’s stock worth $210,000 after buying an additional 576 shares during the last quarter. Stanley Laman Group Ltd. increased its position in Rapid7 by 19.1% in the fourth quarter. Stanley Laman Group Ltd. now owns 153,445 shares of the technology company’s stock worth $5,214,000 after buying an additional 24,556 shares during the last quarter. Wesbanco Bank Inc. purchased a new position in shares of Rapid7 in the fourth quarter valued at $447,000. Exchange Traded Concepts LLC grew its position in shares of Rapid7 by 83.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 12,128 shares of the technology company’s stock valued at $412,000 after purchasing an additional 5,510 shares in the last quarter. Finally, Diversified Trust Co grew its position in shares of Rapid7 by 108.7% in the fourth quarter. Diversified Trust Co now owns 18,282 shares of the technology company’s stock valued at $621,000 after purchasing an additional 9,522 shares in the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

Rapid7 Company Profile

(Get Rating)

Rapid7, Inc engages in the provision of cyber security analytics and automation services. Its products include Metasploit, Nexpose, AppSpider, tCell by Rapid7, as well as insight platforms such as InsightDR, InsightIVM, InsightAppSec, InsightConnect, and InsightOps. The firm also offers security and product consulting services.

Further Reading

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Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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