Rapid7, Inc. (NASDAQ:RPD) Receives Consensus Rating of “Buy” from Analysts

Shares of Rapid7, Inc. (NASDAQ:RPDGet Rating) have earned an average rating of “Buy” from the nineteen research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $125.06.

Several research firms recently weighed in on RPD. Barclays lifted their price target on Rapid7 from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, February 10th. Mizuho dropped their price objective on Rapid7 from $135.00 to $110.00 in a report on Thursday, May 5th. StockNews.com assumed coverage on Rapid7 in a report on Thursday, March 31st. They set a “sell” rating for the company. Royal Bank of Canada boosted their price target on Rapid7 from $130.00 to $140.00 in a report on Thursday, February 10th. Finally, William Blair restated an “outperform” rating on shares of Rapid7 in a research report on Thursday, May 5th.

Shares of NASDAQ RPD traded up $0.34 during midday trading on Friday, hitting $68.81. 8,587 shares of the company’s stock were exchanged, compared to its average volume of 584,292. Rapid7 has a 12 month low of $63.24 and a 12 month high of $145.00. The company’s 50 day moving average price is $96.68 and its 200 day moving average price is $104.87. The firm has a market capitalization of $4.01 billion, a PE ratio of -24.29 and a beta of 1.38.

Rapid7 (NASDAQ:RPDGet Rating) last issued its earnings results on Wednesday, May 4th. The technology company reported ($0.16) EPS for the quarter, hitting the consensus estimate of ($0.16). The business had revenue of $157.00 million for the quarter, compared to the consensus estimate of $154.15 million. The business’s revenue was up 33.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.42) earnings per share. As a group, equities analysts forecast that Rapid7 will post -2.02 EPS for the current fiscal year.

In related news, CFO Timothy M. Adams purchased 5,000 shares of the business’s stock in a transaction dated Monday, May 9th. The stock was purchased at an average cost of $65.50 per share, with a total value of $327,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 106,540 shares of the company’s stock, valued at $6,978,370. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Corey E. Thomas sold 50,000 shares of the firm’s stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $100.00, for a total value of $5,000,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,968 shares of company stock valued at $5,656,672. 3.60% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Congress Wealth Management LLC DE purchased a new stake in shares of Rapid7 in the fourth quarter worth $309,000. Teacher Retirement System of Texas raised its position in Rapid7 by 27.2% during the fourth quarter. Teacher Retirement System of Texas now owns 10,486 shares of the technology company’s stock valued at $1,234,000 after purchasing an additional 2,241 shares in the last quarter. Commonwealth Equity Services LLC purchased a new stake in Rapid7 during the fourth quarter valued at about $218,000. Juncture Wealth Strategies LLC raised its position in Rapid7 by 8.4% during the fourth quarter. Juncture Wealth Strategies LLC now owns 8,431 shares of the technology company’s stock valued at $992,000 after purchasing an additional 650 shares in the last quarter. Finally, Evoke Wealth LLC purchased a new stake in Rapid7 during the fourth quarter valued at about $35,000. 98.03% of the stock is owned by hedge funds and other institutional investors.

Rapid7 Company Profile (Get Rating)

Rapid7, Inc provides cyber security solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cyber security risk management programs. Its platform includes InsightIDR, an incident detection and response solution; InsightCloudSec, a solution that integrates posture management, workload protection, infrastructure entitlements management, infrastructure-as-code security, and Kubernetes protection; InsightVM, a vulnerability risk management solution that is designed to provide a way to collect vulnerability data, prioritize risk, and automate remediation; InsightAppSec, which provides application security testing that analyzes web applications for security vulnerabilities; and InsightConnect, a security orchestration and automation response solution that is used by security professionals.

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