BidaskClub Downgrades Rapid7 (NASDAQ:RPD) to Hold

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Rapid7 (NASDAQ:RPD) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, BidAskClub reports.

A number of other equities research analysts have also recently commented on the company. Monness Crespi & Hardt reissued a “buy” rating and issued a $72.00 target price (up from $62.00) on shares of Rapid7 in a research note on Monday, July 29th. Needham & Company LLC increased their target price on Rapid7 from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. DA Davidson increased their target price on Rapid7 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. BTIG Research increased their target price on Rapid7 to $62.00 and gave the stock a “positive” rating in a research note on Friday, May 3rd. Finally, Nomura started coverage on Rapid7 in a research note on Friday, June 28th. They issued a “buy” rating and a $70.00 target price on the stock. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Rapid7 has a consensus rating of “Buy” and an average price target of $62.24.

NASDAQ RPD opened at $53.48 on Friday. Rapid7 has a 12 month low of $26.27 and a 12 month high of $66.01. The stock has a market cap of $2.61 billion, a P/E ratio of -52.95 and a beta of 1.18. The stock’s fifty day moving average price is $60.10 and its 200-day moving average price is $52.58. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 2.87.

Rapid7 (NASDAQ:RPD) last released its earnings results on Thursday, August 1st. The technology company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.26. Rapid7 had a negative return on equity of 39.52% and a negative net margin of 17.63%. The firm had revenue of $78.96 million for the quarter, compared to analysts’ expectations of $75.14 million. During the same period in the prior year, the firm posted ($0.13) earnings per share. The company’s quarterly revenue was up 35.1% on a year-over-year basis. As a group, analysts forecast that Rapid7 will post -0.62 earnings per share for the current fiscal year.

In other Rapid7 news, CEO Corey E. Thomas sold 20,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $55.24, for a total value of $1,104,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Peter Kaes sold 17,500 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $52.45, for a total value of $917,875.00. The disclosure for this sale can be found here. In the last three months, insiders sold 47,500 shares of company stock worth $2,547,775. 4.90% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of RPD. Harvest Group Wealth Management LLC bought a new position in Rapid7 in the first quarter valued at about $25,000. Private Capital Group LLC raised its stake in shares of Rapid7 by 80.4% in the first quarter. Private Capital Group LLC now owns 745 shares of the technology company’s stock worth $38,000 after buying an additional 332 shares during the period. Signaturefd LLC bought a new position in shares of Rapid7 in the second quarter worth about $46,000. FNY Investment Advisers LLC bought a new position in shares of Rapid7 in the second quarter worth about $57,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Rapid7 by 26.4% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,038 shares of the technology company’s stock worth $61,000 after buying an additional 217 shares during the period. 88.27% of the stock is currently owned by institutional investors.

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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