Rapid7 (RPD) Receives $25.88 Average Price Target from Analysts

Rapid7 (NASDAQ:RPD) has received a consensus rating of “Buy” from the fifteen brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $27.75.

A number of research analysts have weighed in on RPD shares. ValuEngine raised Rapid7 from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Needham & Company LLC reissued a “buy” rating and set a $30.00 price target (up previously from $23.00) on shares of Rapid7 in a research note on Monday, February 12th. Susquehanna Bancshares increased their price target on Rapid7 from $22.00 to $28.00 and gave the stock a “positive” rating in a research note on Wednesday, January 24th. BidaskClub raised Rapid7 from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Finally, KeyCorp reissued an “overweight” rating and set a $30.00 price target (up previously from $25.00) on shares of Rapid7 in a research note on Tuesday, January 30th.

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In related news, major shareholder Bain Capital Venture Investors sold 2,000,000 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $21.01, for a total value of $42,020,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Andrew F. Burton sold 16,797 shares of the stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $27.22, for a total value of $457,214.34. The disclosure for this sale can be found here. Insiders sold a total of 3,364,381 shares of company stock worth $76,061,950 over the last ninety days. Corporate insiders own 56.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wasatch Advisors Inc. raised its position in shares of Rapid7 by 5.2% in the 4th quarter. Wasatch Advisors Inc. now owns 2,088,008 shares of the technology company’s stock worth $38,962,000 after buying an additional 103,934 shares during the period. BlackRock Inc. raised its position in Rapid7 by 3.2% in the fourth quarter. BlackRock Inc. now owns 1,223,915 shares of the technology company’s stock valued at $22,837,000 after purchasing an additional 38,238 shares during the period. Cortina Asset Management LLC raised its position in Rapid7 by 62.8% in the fourth quarter. Cortina Asset Management LLC now owns 556,533 shares of the technology company’s stock valued at $10,385,000 after purchasing an additional 214,780 shares during the period. Millennium Management LLC raised its position in Rapid7 by 129.5% in the fourth quarter. Millennium Management LLC now owns 511,129 shares of the technology company’s stock valued at $9,538,000 after purchasing an additional 288,392 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new position in Rapid7 in the third quarter valued at about $7,896,000. 67.93% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:RPD traded down $0.33 during trading hours on Wednesday, reaching $27.86. 210,370 shares of the company traded hands, compared to its average volume of 451,996. Rapid7 has a 1-year low of $14.74 and a 1-year high of $28.73. The stock has a market cap of $1,260.79, a PE ratio of -26.53 and a beta of 0.89.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Monday, February 12th. The technology company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.11). Rapid7 had a negative return on equity of 141.69% and a negative net margin of 22.63%. The business had revenue of $57.73 million for the quarter, compared to analysts’ expectations of $57.39 million. During the same period in the prior year, the company earned ($0.13) EPS. The company’s revenue for the quarter was up 28.2% compared to the same quarter last year. equities analysts anticipate that Rapid7 will post -0.98 EPS for the current year.

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About Rapid7

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enables customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.

Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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