Rapid7 (RPD) Rating Reiterated by Cowen

Rapid7 (NASDAQ:RPD)‘s stock had its “buy” rating reissued by research analysts at Cowen in a research note issued to investors on Friday. They currently have a $30.00 price target on the technology company’s stock. Cowen’s price objective would suggest a potential upside of 9.33% from the stock’s previous close.

RPD has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Rapid7 from a “hold” rating to a “sell” rating in a research note on Tuesday, April 17th. BidaskClub raised shares of Rapid7 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 3rd. Susquehanna Bancshares upped their price objective on shares of Rapid7 from $22.00 to $28.00 and gave the company a “positive” rating in a research note on Wednesday, January 24th. ValuEngine raised shares of Rapid7 from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price objective (up previously from $23.00) on shares of Rapid7 in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Rapid7 currently has a consensus rating of “Buy” and a consensus target price of $27.64.

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Shares of RPD stock opened at $27.44 on Friday. Rapid7 has a twelve month low of $14.74 and a twelve month high of $28.73. The stock has a market capitalization of $1,284.26, a P/E ratio of -26.13 and a beta of 0.89.

Rapid7 (NASDAQ:RPD) last posted 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). Rapid7 had a negative net margin of 22.63% and a negative return on equity of 141.69%. The company had revenue of $57.73 million for the quarter, compared to analyst estimates of $57.39 million. During the same period in the prior year, the company earned ($0.13) EPS. The company’s revenue was up 28.2% compared to the same quarter last year. equities analysts expect that Rapid7 will post -0.98 earnings per share for the current fiscal year.

In other Rapid7 news, Chairman Alan Matthews sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 17th. The stock was sold at an average price of $27.93, for a total value of $558,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lee David Weiner sold 18,541 shares of the company’s stock in a transaction that occurred on Thursday, March 22nd. The stock was sold at an average price of $27.02, for a total value of $500,977.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,364,381 shares of company stock valued at $76,061,950. Corporate insiders own 56.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Crow Point Partners LLC purchased a new position in Rapid7 in the 4th quarter worth approximately $119,000. Fortaleza Asset Management Inc. purchased a new position in Rapid7 in the 4th quarter worth approximately $160,000. MetLife Investment Advisors LLC purchased a new position in Rapid7 in the 4th quarter worth approximately $190,000. Hamilton Lane Advisors LLC purchased a new position in Rapid7 in the 4th quarter worth approximately $207,000. Finally, Ardsley Advisory Partners purchased a new position in Rapid7 in the 4th quarter worth approximately $224,000. Hedge funds and other institutional investors own 67.93% of the company’s stock.

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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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