Rapid7 (NASDAQ:RPD) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Rapid7 (NASDAQ:RPDFree Report) in a research report sent to investors on Thursday, Benzinga reports. Royal Bank of Canada currently has a $70.00 price objective on the technology company’s stock.

Other equities analysts have also recently issued reports about the company. Wolfe Research raised Rapid7 from a peer perform rating to an outperform rating and set a $56.00 price target on the stock in a research note on Friday, November 3rd. Morgan Stanley lifted their price target on Rapid7 from $52.00 to $55.00 and gave the stock an equal weight rating in a research note on Tuesday, November 7th. UBS Group raised Rapid7 from a neutral rating to a buy rating and lifted their price target for the stock from $53.00 to $70.00 in a research note on Monday, January 29th. Citigroup raised Rapid7 from a neutral rating to a buy rating and lifted their price target for the stock from $54.00 to $65.00 in a research note on Tuesday, January 9th. Finally, Mizuho boosted their target price on Rapid7 from $52.00 to $55.00 and gave the company a neutral rating in a research note on Monday, October 16th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $56.13.

Read Our Latest Stock Analysis on RPD

Rapid7 Trading Up 3.1 %

Shares of RPD opened at $58.73 on Thursday. The company has a market cap of $3.61 billion, a PE ratio of -23.40 and a beta of 1.04. The stock has a 50-day moving average price of $56.24 and a 200-day moving average price of $51.04. Rapid7 has a 12-month low of $37.29 and a 12-month high of $60.15.

Rapid7 (NASDAQ:RPDGet Free Report) last issued its quarterly earnings results 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. The firm had revenue of $205.27 million during the quarter, compared to the consensus estimate of $201.52 million. Rapid7 had a negative return on equity of 1.33% and a negative net margin of 19.19%. As a group, analysts predict that Rapid7 will post 0.31 earnings per share for the current year.

Insider Transactions at Rapid7

In related news, COO Andrew F. Burton sold 17,000 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $53.68, for a total value of $912,560.00. Following the completion of the transaction, the chief operating officer now owns 224,038 shares of the company’s stock, valued at approximately $12,026,359.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in shares of Rapid7 by 3,367.9% during the 4th quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock valued at $55,000 after purchasing an additional 943 shares during the last quarter. Strs Ohio raised its position in shares of Rapid7 by 62.5% during the 2nd quarter. Strs Ohio now owns 1,300 shares of the technology company’s stock valued at $58,000 after buying an additional 500 shares in the last quarter. State of Wyoming raised its position in shares of Rapid7 by 315.1% during the 4th quarter. State of Wyoming now owns 2,117 shares of the technology company’s stock valued at $72,000 after buying an additional 1,607 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of Rapid7 during the 3rd quarter valued at about $87,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Rapid7 during the 4th quarter valued at about $95,000. Institutional investors own 95.66% of the company’s stock.

About Rapid7

(Get Free Report)

Rapid7, Inc provides cybersecurity solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cybersecurity risk management programs. Its platform includes InsightIDR, an incident detection and response solution; InsightCloudSec, a cloud risk and compliance management platform; InsightVM helps organizations to discover and remediate vulnerability risk across their network; InsightAppSec that provides dynamic application security testing; and InsightConnect, a security orchestration and automation response solution.

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