Rapid7’s (RPD) Buy Rating Reiterated at Northland Securities

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Rapid7 (NASDAQ:RPD)‘s stock had its “buy” rating reissued by investment analysts at Northland Securities in a note issued to investors on Friday, AnalystRatings.com reports. They currently have a $64.00 target price on the technology company’s stock. Northland Securities’ price target suggests a potential upside of 21.03% from the company’s current price.

RPD has been the subject of a number of other research reports. Morgan Stanley set a $42.00 target price on Rapid7 and gave the company a “hold” rating in a research note on Friday, February 8th. Robert W. Baird initiated coverage on Rapid7 in a research note on Wednesday, April 3rd. They issued an “outperform” rating and a $58.00 target price for the company. Raymond James raised Rapid7 from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $39.00 to $45.00 in a research note on Tuesday, January 29th. Zacks Investment Research lowered Rapid7 from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th. Finally, BidaskClub raised Rapid7 from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 10th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. Rapid7 has a consensus rating of “Buy” and a consensus target price of $50.88.

NASDAQ:RPD opened at $52.88 on Friday. The firm has a market cap of $2.51 billion, a P/E ratio of -52.36 and a beta of 1.20. Rapid7 has a 52-week low of $26.27 and a 52-week high of $54.85. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.51 and a quick ratio of 1.51.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.10. Rapid7 had a negative return on equity of 57.61% and a negative net margin of 22.76%. The company had revenue of $73.20 million during the quarter, compared to analyst estimates of $69.86 million. During the same quarter last year, the company earned ($0.19) earnings per share. The firm’s quarterly revenue was up 34.3% on a year-over-year basis. Equities research analysts anticipate that Rapid7 will post -0.49 EPS for the current year.

In related news, insider Corey E. Thomas sold 25,000 shares of the business’s stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $45.82, for a total transaction of $1,145,500.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas E. Schodorf sold 600 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $49.45, for a total value of $29,670.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,146 shares of company stock worth $7,046,251. 25.60% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Natixis Advisors L.P. increased its holdings in Rapid7 by 2.1% during the 4th quarter. Natixis Advisors L.P. now owns 12,767 shares of the technology company’s stock valued at $397,000 after purchasing an additional 257 shares during the period. Private Capital Group LLC grew its holdings in shares of Rapid7 by 80.4% during the 1st quarter. Private Capital Group LLC now owns 745 shares of the technology company’s stock worth $38,000 after acquiring an additional 332 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of Rapid7 by 3.8% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 15,912 shares of the technology company’s stock worth $496,000 after acquiring an additional 581 shares during the period. Squarepoint Ops LLC grew its holdings in shares of Rapid7 by 2.2% during the 4th quarter. Squarepoint Ops LLC now owns 28,931 shares of the technology company’s stock worth $901,000 after acquiring an additional 617 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Rapid7 by 4.2% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 15,204 shares of the technology company’s stock worth $474,000 after acquiring an additional 619 shares during the period. Institutional investors own 86.03% of the company’s stock.

About Rapid7

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enable 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.

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Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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