Rapid7 (NASDAQ:RPD) Now Covered by Scotiabank

Analysts at Scotiabank started coverage on shares of Rapid7 (NASDAQ:RPD) in a research report issued on Friday, MarketBeat Ratings reports. The brokerage set a “sector perform” rating and a $46.00 price target on the technology company’s stock. Scotiabank’s price objective would indicate a potential upside of 0.15% from the stock’s previous close.

Several other analysts have also recently weighed in on RPD. Barclays boosted their price objective on Rapid7 from $58.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. dropped their price objective on Rapid7 from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, February 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Rapid7 in a research note on Thursday, February 8th. UBS Group raised Rapid7 from a “neutral” rating to a “buy” rating and upped their price target for the company from $53.00 to $70.00 in a research note on Monday, January 29th. Finally, StockNews.com cut Rapid7 from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $55.56.

Rapid7 Stock Up 0.2 %

Rapid7 stock opened at $45.93 on Friday. The stock has a 50-day simple moving average of $50.97 and a 200 day simple moving average of $53.02. Rapid7 has a 12-month low of $39.49 and a 12-month high of $61.88. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of -18.30 and a beta of 1.01.

Rapid7 (NASDAQ:RPD) last released 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. Rapid7 had a negative return on equity of 1.36% and a negative net margin of 19.19%. The business had revenue of $205.27 million during the quarter, compared to analysts’ expectations of $201.52 million. As a group, sell-side analysts anticipate that Rapid7 will post 0.86 EPS for the current year.

Insider Activity at Rapid7

In related news, COO Andrew F. Burton sold 20,653 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $48.73, for a total value of $1,006,420.69. Following the completion of the transaction, the chief operating officer now directly owns 236,841 shares in the company, valued at approximately $11,541,261.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the completion of the transaction, the chief operating officer now owns 257,494 shares of the company’s stock, valued at approximately $13,665,206.58. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Andrew F. Burton sold 20,653 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was 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 directly owns 236,841 shares of the company’s stock, valued at approximately $11,541,261.93. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Rapid7

A number of large investors have recently bought and sold shares of RPD. Verity & Verity LLC bought a new position in shares of Rapid7 in the first quarter valued at $245,000. Assenagon Asset Management S.A. lifted its stake in Rapid7 by 311.5% in the first quarter. Assenagon Asset Management S.A. now owns 35,261 shares of the technology company’s stock valued at $1,729,000 after acquiring an additional 26,693 shares during the last quarter. Mather Group LLC. bought a new position in shares of Rapid7 in the 1st quarter valued at about $42,000. Los Angeles Capital Management LLC increased its stake in shares of Rapid7 by 60.9% during the 1st quarter. Los Angeles Capital Management LLC now owns 42,293 shares of the technology company’s stock worth $2,074,000 after purchasing an additional 16,001 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Rapid7 during the 4th quarter worth about $277,000. Institutional investors and hedge funds 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.