Rapid7 (NASDAQ:RPD) Rating Increased to Buy at Wall Street Zen

Rapid7 (NASDAQ:RPD) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

RPD has been the topic of a number of other research reports. Scotiabank decreased their price objective on Rapid7 from $38.00 to $29.00 and set a “sector perform” rating on the stock in a report on Tuesday, May 13th. Piper Sandler decreased their price objective on Rapid7 from $35.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Raymond James Financial decreased their price objective on Rapid7 from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Morgan Stanley raised their price objective on Rapid7 from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday, May 13th. Finally, Jefferies Financial Group decreased their price objective on Rapid7 from $45.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $33.16.

Rapid7 Trading Down 0.1%

Shares of NASDAQ:RPD opened at $22.31 on Friday. Rapid7 has a 1 year low of $21.61 and a 1 year high of $44.48. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 57.21 and a beta of 1.01. The company has a debt-to-equity ratio of 16.87, a current ratio of 1.24 and a quick ratio of 1.24. The business’s 50 day moving average price is $23.50 and its 200-day moving average price is $28.35.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Monday, May 12th. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12. Rapid7 had a return on equity of 2,043.18% and a net margin of 3.42%. The firm had revenue of $210.25 million for the quarter, compared to analyst estimates of $208.25 million. During the same quarter last year, the firm posted $0.55 EPS. The business’s revenue was up 2.5% on a year-over-year basis. On average, equities research analysts forecast that Rapid7 will post 0.35 earnings per share for the current fiscal year.

Institutional Trading of Rapid7

A number of hedge funds and other institutional investors have recently modified their holdings of RPD. Vanguard Group Inc. grew its position in Rapid7 by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company’s stock valued at $346,721,000 after acquiring an additional 60,095 shares in the last quarter. JANA Partners Management LP grew its position in Rapid7 by 0.9% in the 4th quarter. JANA Partners Management LP now owns 3,690,129 shares of the technology company’s stock valued at $148,454,000 after acquiring an additional 34,589 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Rapid7 by 112.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,286,300 shares of the technology company’s stock valued at $60,610,000 after acquiring an additional 1,209,856 shares in the last quarter. Penserra Capital Management LLC grew its position in Rapid7 by 95.8% in the 1st quarter. Penserra Capital Management LLC now owns 1,880,084 shares of the technology company’s stock valued at $49,841,000 after acquiring an additional 919,955 shares in the last quarter. Finally, Shapiro Capital Management LLC grew its position in Rapid7 by 295.9% in the 4th quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company’s stock valued at $51,935,000 after acquiring an additional 964,899 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

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.