Monness Crespi & Hardt Boosts Rapid7 (RPD) Price Target to $41.00

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Rapid7 (NASDAQ:RPD) had its target price raised by stock analysts at Monness Crespi & Hardt from $38.00 to $41.00 in a research report issued to clients and investors on Wednesday. The firm presently has a “buy” rating on the technology company’s stock. Monness Crespi & Hardt’s target price suggests a potential upside of 22.32% from the stock’s current price.

A number of other research firms also recently issued reports on RPD. BidaskClub upgraded shares of Rapid7 from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 25th. Stifel Nicolaus raised their price target on shares of Rapid7 from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. Needham & Company LLC raised their price target on shares of Rapid7 from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, September 21st. Zacks Investment Research upgraded shares of Rapid7 from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Wednesday, October 10th. Finally, KeyCorp raised their price target on shares of Rapid7 from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 7th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Rapid7 presently has an average rating of “Buy” and a consensus price target of $35.43.

Rapid7 stock opened at $33.52 on Wednesday. Rapid7 has a 1 year low of $17.43 and a 1 year high of $39.40. The stock has a market capitalization of $1.65 billion, a PE ratio of -31.92 and a beta of 1.02.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Tuesday, November 6th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.09. Rapid7 had a negative net margin of 24.40% and a negative return on equity of 105.43%. The company had revenue of $62.40 million for the quarter, compared to the consensus estimate of $59.50 million. During the same period last year, the firm posted ($0.15) EPS. The company’s revenue for the quarter was up 23.6% on a year-over-year basis. On average, research analysts anticipate that Rapid7 will post -1.01 earnings per share for the current year.

In other Rapid7 news, CFO Jeffrey Kalowski sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $32.65, for a total transaction of $653,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Andrew F. Burton sold 7,000 shares of the firm’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $36.23, for a total transaction of $253,610.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 255,732 shares of company stock worth $9,505,242. 25.60% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in RPD. Barclays PLC increased its stake in Rapid7 by 68.6% during the 1st quarter. Barclays PLC now owns 5,718 shares of the technology company’s stock valued at $146,000 after buying an additional 2,327 shares during the period. Centaurus Financial Inc. acquired a new position in Rapid7 during the 2nd quarter valued at about $169,000. Cubist Systematic Strategies LLC acquired a new position in Rapid7 during the 1st quarter valued at about $213,000. Verition Fund Management LLC acquired a new position in Rapid7 during the 2nd quarter valued at about $327,000. Finally, Harvest Fund Management Co. Ltd grew its stake in shares of Rapid7 by 598.9% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 8,918 shares of the technology company’s stock worth $329,000 after purchasing an additional 7,642 shares during the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Rapid7 Company Profile

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.

Further Reading: Book Value Per Share – BVPS

Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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