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

StockNews.com upgraded shares of Rapid7 (NASDAQ:RPD - Free Report) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

RPD has been the topic of a number of other research reports. Piper Sandler dropped their price objective on Rapid7 from $42.00 to $40.00 and set a "neutral" rating on the stock in a research note on Thursday, November 7th. Royal Bank of Canada downgraded Rapid7 from an "outperform" rating to a "sector perform" rating and lowered their price target for the stock from $50.00 to $40.00 in a research report on Friday, September 20th. UBS Group decreased their target price on Rapid7 from $59.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. DA Davidson upped their price objective on shares of Rapid7 from $35.00 to $39.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Rapid7 from $40.00 to $42.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Fourteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $44.59.

Rapid7 Stock Up 0.1 %

Rapid7 stock traded up $0.05 during midday trading on Friday, hitting $43.48. 676,081 shares of the stock were exchanged, compared to its average volume of 839,833. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.88. The stock has a market capitalization of $2.75 billion, a PE ratio of 68.94 and a beta of 0.95. The company has a fifty day simple moving average of $40.57 and a two-hundred day simple moving average of $38.68.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its earnings results on Wednesday, November 6th. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.14. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The firm had revenue of $214.65 million during the quarter, compared to analysts' expectations of $210.04 million. During the same period in the previous year, the firm earned $0.11 earnings per share. The company's revenue was up 8.0% on a year-over-year basis. As a group, equities research analysts anticipate that Rapid7 will post 0.98 EPS for the current fiscal year.

Insider Activity at Rapid7

In other news, Director Reeny Sondhi sold 3,663 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the completion of the transaction, the director now owns 17,460 shares of the company's stock, valued at approximately $698,400. This represents a 17.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rapid7

A number of hedge funds and other institutional investors have recently bought and sold shares of RPD. International Assets Investment Management LLC boosted its position in Rapid7 by 3,888.2% during the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company's stock worth $27,000 after buying an additional 661 shares during the period. Quest Partners LLC acquired a new position in shares of Rapid7 during the second quarter worth $35,000. Summit Securities Group LLC acquired a new position in shares of Rapid7 during the second quarter worth $43,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Rapid7 in the third quarter worth $69,000. Finally, Financial Connections Group Inc. acquired a new stake in Rapid7 in the second quarter valued at $72,000. Institutional investors own 95.66% of the company's stock.

About Rapid7

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.