Brokerages Set Rapid7 Inc (RPD) Price Target at $22.35

Shares of Rapid7 Inc (NASDAQ:RPD) have been given an average recommendation of “Buy” by the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $23.35.

Several research analysts have recently issued reports on the company. BidaskClub raised Rapid7 from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Needham & Company LLC assumed coverage on Rapid7 in a research report on Monday, October 23rd. They issued a “buy” rating and a $23.00 target price for the company. Royal Bank of Canada reaffirmed a “buy” rating and set a $30.00 price objective on shares of Rapid7 in a research report on Friday, January 26th. KeyCorp reaffirmed an “overweight” rating and set a $30.00 price objective (up previously from $25.00) on shares of Rapid7 in a research report on Tuesday. Finally, Northland Securities set a $28.00 price objective on Rapid7 and gave the company a “buy” rating in a research report on Wednesday, January 24th.

In other news, insider Corey E. Thomas sold 250,000 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $21.01, for a total value of $5,252,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Vii Lp Tcv sold 102,465 shares of Rapid7 stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $18.33, for a total value of $1,878,183.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,366,228 shares of company stock worth $25,866,717. Company insiders own 56.90% of the company’s stock.

A number of large investors have recently bought and sold shares of RPD. JPMorgan Chase & Co. increased its holdings in shares of Rapid7 by 19.4% in the second quarter. JPMorgan Chase & Co. now owns 46,759 shares of the technology company’s stock worth $787,000 after purchasing an additional 7,588 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Rapid7 by 1,398.9% in the second quarter. Citigroup Inc. now owns 9,788 shares of the technology company’s stock worth $165,000 after purchasing an additional 9,135 shares during the last quarter. Citadel Advisors LLC increased its holdings in shares of Rapid7 by 226.8% in the third quarter. Citadel Advisors LLC now owns 148,657 shares of the technology company’s stock worth $2,616,000 after purchasing an additional 103,164 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in shares of Rapid7 in the second quarter worth about $957,000. Finally, Northern Trust Corp increased its holdings in shares of Rapid7 by 5.8% in the second quarter. Northern Trust Corp now owns 249,189 shares of the technology company’s stock worth $4,194,000 after purchasing an additional 13,723 shares during the last quarter. 70.77% of the stock is currently owned by institutional investors and hedge funds.

Shares of Rapid7 (RPD) traded down $0.46 during trading hours on Friday, hitting $23.88. The stock had a trading volume of 203,689 shares, compared to its average volume of 481,707. Rapid7 has a 12-month low of $12.20 and a 12-month high of $25.95. The company has a market cap of $1,114.70, a price-to-earnings ratio of -24.22 and a beta of 0.68.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Tuesday, November 7th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.02. Rapid7 had a negative return on equity of 115.79% and a negative net margin of 22.44%. The firm had revenue of $50.50 million during the quarter, compared to analyst estimates of $49.87 million. During the same quarter in the prior year, the company earned ($0.13) EPS. The business’s revenue was up 25.3% compared to the same quarter last year. research analysts predict that Rapid7 will post -1.05 earnings per share for the current year.

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About Rapid7

Rapid7, Inc is a provider analytics for security and information technology (IT) operations that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The Company’s analytics enable organizations to contextualize and prioritize the threats facing their physical, virtual and cloud assets, including those posed by the behaviors of their users.

Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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