Rapid7 Inc (NASDAQ:RPD) Receives Consensus Rating of “Buy” from Brokerages

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Rapid7 Inc (NASDAQ:RPD) has been given a consensus recommendation of “Buy” by the nineteen analysts that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $61.69.

Several research analysts recently issued reports on RPD shares. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $72.00 target price (up from $62.00) on shares of Rapid7 in a research report on Monday, July 29th. DA Davidson upped their target price on Rapid7 to $52.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. Barclays reaffirmed a “buy” rating and set a $69.00 target price on shares of Rapid7 in a research report on Thursday, July 18th. BidaskClub lowered Rapid7 from a “buy” rating to a “hold” rating in a research report on Saturday, August 17th. Finally, Royal Bank of Canada boosted their price target on Rapid7 to $70.00 and gave the company an “outperform” rating in a research note on Monday, July 29th.

Shares of RPD traded down $0.46 during trading hours on Friday, hitting $53.69. The company had a trading volume of 259,508 shares, compared to its average volume of 588,032. The company has a market capitalization of $2.61 billion, a PE ratio of -53.16 and a beta of 1.18. 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 has a one year low of $26.27 and a one year high of $66.01. The company’s fifty day moving average price is $58.61 and its two-hundred day moving average price is $53.28.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $75.14 million. During the same period in the previous year, the company posted ($0.13) EPS. The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. Analysts forecast that Rapid7 will post -0.62 earnings per share for the current year.

In other Rapid7 news, CEO Corey E. Thomas sold 20,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $55.24, for a total transaction of $1,104,800.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Lee David Weiner sold 20,556 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $54.93, for a total value of $1,129,141.08. The disclosure for this sale can be found here. Insiders sold 81,143 shares of company stock worth $4,414,742 in the last 90 days. Company insiders own 4.90% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE increased its stake in Rapid7 by 508.2% during the fourth quarter. Bank of America Corp DE now owns 64,556 shares of the technology company’s stock worth $2,011,000 after acquiring an additional 53,941 shares during the last quarter. FMR LLC purchased a new position in shares of Rapid7 during the fourth quarter worth $1,795,000. Geode Capital Management LLC boosted its position in shares of Rapid7 by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 464,896 shares of the technology company’s stock worth $14,485,000 after buying an additional 31,004 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Rapid7 by 7.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 17,113 shares of the technology company’s stock worth $866,000 after buying an additional 1,201 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its holdings in Rapid7 by 1,019.1% in the first quarter. BNP Paribas Arbitrage SA now owns 8,494 shares of the technology company’s stock valued at $430,000 after purchasing an additional 7,735 shares during the period. Institutional investors own 88.88% of the company’s stock.

Rapid7 Company Profile

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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