Rapid7 (NASDAQ:RPD) Upgraded to Buy at StockNews.com

Rapid7 (NASDAQ:RPD - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Friday.

Several other equities research analysts have also weighed in on RPD. Piper Sandler lowered their target price on shares of Rapid7 from $42.00 to $40.00 and set a "neutral" rating on the stock in a report on Thursday. Baird R W lowered shares of Rapid7 from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 1st. Needham & Company LLC reiterated a "hold" rating on shares of Rapid7 in a research note on Wednesday, August 7th. Royal Bank of Canada lowered Rapid7 from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from $50.00 to $40.00 in a research report on Friday, September 20th. Finally, Scotiabank cut their price objective on Rapid7 from $45.00 to $41.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 7th. Fourteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Rapid7 has an average rating of "Hold" and an average target price of $44.59.

Rapid7 Stock Down 1.8 %

RPD traded down $0.74 during midday trading on Friday, reaching $40.54. 1,005,345 shares of the company's stock were exchanged, compared to its average volume of 848,452. The business has a 50-day simple moving average of $37.97 and a two-hundred day simple moving average of $38.79. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 64.35 and a beta of 0.96. Rapid7 has a one year low of $32.94 and a one year high of $61.88.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.52 by $0.06. Rapid7 had a negative return on equity of 99.08% and a net margin of 5.65%. The business had revenue of $207.99 million for the quarter, compared to analyst estimates of $204.04 million. During the same quarter in the previous year, the firm earned ($0.33) EPS. Rapid7's quarterly revenue was up 9.2% on a year-over-year basis. As a group, research analysts anticipate that Rapid7 will post 0.8 EPS for the current fiscal year.

Insider Transactions at Rapid7

In related news, Director Reeny Sondhi sold 3,663 shares of the company's stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $40.00, for a total value of $146,520.00. Following the completion of the sale, the director now owns 17,460 shares in the company, valued at approximately $698,400. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rapid7

Several large investors have recently bought and sold shares of RPD. International Assets Investment Management LLC increased its holdings in shares of Rapid7 by 3,888.2% in the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company's stock worth $27,000 after acquiring an additional 661 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Rapid7 in the second quarter valued at approximately $35,000. Summit Securities Group LLC bought a new stake in shares of Rapid7 during the second quarter worth $43,000. Financial Connections Group Inc. acquired a new stake in shares of Rapid7 during the second quarter worth $72,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Rapid7 in the 1st quarter valued at $83,000. Institutional investors own 95.66% of the company's stock.

Rapid7 Company Profile

Rapid7, Inc provides cybersecurity solutions under the Rapid7, Nexpose, and Metasploit brand names. The company offers endpoint to cloud data collection and sharing applications, such as Rapid7 Insight Agent, a software-based agent that is used on assets across on-premises and cloud environments to centralize and monitor data on company's platform; Rapid7 Insight Network Sensor that analyzes raw end-to-end network traffic to increase visibility into user activity, pinpoint real threats, and investigations; Rapid7 Cloud Event Data Harvesting that offers visibility into changes made to cloud resources; and third-party integrations and ecosystem, as well as orchestration and automation solutions.

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