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

Rapid7, Inc. (NASDAQ:RPD) has been assigned a consensus recommendation of “Hold” from the twelve ratings firms that are presently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $56.20.

RPD has been the topic of a number of analyst reports. UBS Group upgraded 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 research report on Monday, January 29th. JPMorgan Chase & Co. cut their price target on shares of Rapid7 from $61.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price target on shares of Rapid7 in a research note on Thursday, February 8th. StockNews.com downgraded shares of Rapid7 from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, Barclays increased their price target on shares of Rapid7 from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th.

Rapid7 Stock Performance

Shares of NASDAQ RPD opened at $44.31 on Friday. Rapid7 has a 1 year low of $39.49 and a 1 year high of $61.88. The firm’s 50 day moving average price is $52.40 and its 200 day moving average price is $53.15. The firm has a market cap of $2.75 billion, a P/E ratio of -17.65 and a beta of 1.01.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $201.52 million. As a group, equities analysts predict that Rapid7 will post 0.86 EPS for the current year.

Insider Activity

In other news, COO Andrew F. Burton sold 20,653 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $48.73, for a total value of $1,006,420.69. Following the transaction, the chief operating officer now owns 236,841 shares of the company’s stock, valued at approximately $11,541,261.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Andrew F. Burton sold 20,653 shares of the firm’s stock in a transaction on 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 sale, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at approximately $11,541,261.93. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $1,683,751.89. Following the sale, the chief operating officer now directly owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Rapid7

A number of large investors have recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new position in Rapid7 during the 1st quarter worth $42,000. International Assets Investment Management LLC grew its holdings in Rapid7 by 3,367.9% during the 4th quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock worth $55,000 after acquiring an additional 943 shares in the last quarter. Captrust Financial Advisors grew its holdings in Rapid7 by 117.8% during the 1st quarter. Captrust Financial Advisors now owns 1,479 shares of the technology company’s stock worth $165,000 after acquiring an additional 800 shares in the last quarter. Quilter Plc acquired a new position in Rapid7 during the 1st quarter worth $1,489,500,000. Finally, Financial Connections Group Inc. acquired a new position in Rapid7 during the 4th quarter worth $95,000. 95.66% of the stock is owned by institutional investors and hedge funds.

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.