Rapid7, Inc. (NASDAQ:RPD) Given Average Recommendation of “Buy” by Brokerages

Shares of Rapid7, Inc. (NASDAQ:RPD – Get Rating) have received an average recommendation of “Buy” from the eighteen ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $132.40.

Several analysts recently weighed in on the company. StockNews.com began coverage on Rapid7 in a research report on Thursday, March 31st. They set a “sell” rating for the company. Morgan Stanley decreased their price target on Rapid7 from $106.00 to $103.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 18th. Wolfe Research began coverage on Rapid7 in a research note on Monday, April 11th. They set an “outperform” rating and a $122.00 target price for the company. Zacks Investment Research raised Rapid7 from a “sell” rating to a “hold” rating in a research note on Tuesday, April 19th. Finally, KeyCorp raised their price objective on Rapid7 from $126.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, February 10th.

In other Rapid7 news, CEO Corey E. Thomas sold 50,000 shares of the business’s stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $100.00, for a total value of $5,000,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Andrew F. Burton sold 5,498 shares of the business’s stock in a transaction on Tuesday, March 22nd. The shares were sold at an average price of $110.00, for a total value of $604,780.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,008 shares of company stock worth $5,660,472. Corporate insiders own 3.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Truist Financial Corp lifted its stake in Rapid7 by 3.6% during the first quarter. Truist Financial Corp now owns 75,151 shares of the technology company’s stock worth $8,360,000 after purchasing an additional 2,578 shares during the last quarter. Exane Derivatives lifted its stake in Rapid7 by 15,300.0% during the first quarter. Exane Derivatives now owns 616 shares of the technology company’s stock worth $69,000 after purchasing an additional 612 shares during the last quarter. Strs Ohio lifted its stake in Rapid7 by 41.8% during the first quarter. Strs Ohio now owns 89,900 shares of the technology company’s stock worth $10,000,000 after purchasing an additional 26,500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Rapid7 by 7.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,490 shares of the technology company’s stock worth $6,173,000 after purchasing an additional 3,628 shares during the last quarter. Finally, Green Alpha Advisors LLC lifted its stake in Rapid7 by 21.4% during the first quarter. Green Alpha Advisors LLC now owns 12,764 shares of the technology company’s stock worth $1,420,000 after purchasing an additional 2,251 shares during the last quarter.

RPD opened at $105.23 on Monday. The firm has a market cap of $6.11 billion, a P/E ratio of -39.86 and a beta of 1.34. Rapid7 has a 52-week low of $72.96 and a 52-week high of $145.00. The business’s fifty day moving average is $105.09 and its 200-day moving average is $111.75.

Rapid7 (NASDAQ:RPD – Get Rating) last announced its quarterly earnings data on Wednesday, February 9th. The technology company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.53. The business had revenue of $151.64 million for the quarter, compared to the consensus estimate of $146.11 million. During the same quarter in the prior year, the company earned ($0.40) earnings per share. As a group, equities analysts anticipate that Rapid7 will post -2.15 EPS for the current year.

Rapid7 Company Profile (Get Rating)

Rapid7, Inc provides cyber security solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cyber security risk management programs. Its platform includes InsightIDR, an incident detection and response solution; InsightCloudSec, a solution that integrates posture management, workload protection, infrastructure entitlements management, infrastructure-as-code security, and Kubernetes protection; InsightVM, a vulnerability risk management solution that is designed to provide a way to collect vulnerability data, prioritize risk, and automate remediation; InsightAppSec, which provides application security testing that analyzes web applications for security vulnerabilities; and InsightConnect, a security orchestration and automation response solution that is used by security professionals.

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