Rapid7 (RPD) Rating Reiterated by Monness Crespi & Hardt

Rapid7 (NASDAQ:RPD)‘s stock had its “buy” rating reissued by investment analysts at Monness Crespi & Hardt in a research note issued to investors on Tuesday. They currently have a $27.00 price target on the technology company’s stock, up from their previous price target of $23.00. Monness Crespi & Hardt’s price target points to a potential upside of 11.07% from the stock’s current price.

A number of other equities research analysts have also recently commented on RPD. BidaskClub cut shares of Rapid7 from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Needham & Company LLC initiated coverage on shares of Rapid7 in a research note on Monday, October 23rd. They issued a “buy” rating and a $23.00 price objective on the stock. Royal Bank of Canada increased their price objective on shares of Rapid7 from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, November 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $23.00 price target on shares of Rapid7 in a research note on Thursday, December 14th. Finally, ValuEngine raised shares of Rapid7 from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $24.29.

Shares of Rapid7 (NASDAQ:RPD) opened at $24.31 on Tuesday. The company has a market cap of $1,054.57, a PE ratio of -22.93 and a beta of 1.12. Rapid7 has a 12 month low of $13.42 and a 12 month high of $25.95.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Monday, February 12th. The technology company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.11). The business had revenue of $57.73 million during the quarter, compared to analyst estimates of $57.39 million. Rapid7 had a negative net margin of 22.63% and a negative return on equity of 130.89%. Rapid7’s revenue was up 28.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.13) earnings per share. research analysts anticipate that Rapid7 will post -1.01 EPS for the current year.

In related news, major shareholder Bain Capital Venture Investors sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $21.01, for a total value of $42,020,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lee David Weiner sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $18.41, for a total transaction of $368,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,345,246 shares of company stock worth $49,165,672 over the last ninety days. 56.90% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in RPD. Crow Point Partners LLC acquired a new stake in shares of Rapid7 in the fourth quarter worth approximately $119,000. Fortaleza Asset Management Inc. acquired a new stake in shares of Rapid7 in the fourth quarter worth approximately $160,000. Citigroup Inc. boosted its position 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 acquiring an additional 9,135 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Rapid7 in the third quarter worth approximately $187,000. Finally, Hamilton Lane Advisors LLC acquired a new stake in shares of Rapid7 in the fourth quarter worth approximately $207,000. 68.49% of the stock is currently owned by institutional investors and hedge funds.

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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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