Brokerages Set Rapid7, Inc. (NASDAQ:RPD) PT at $56.20

Rapid7, Inc. (NASDAQ:RPD) has been assigned an average rating of “Hold” from the twelve research firms that are currently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $56.20.

Several research analysts have recently weighed in on the stock. StockNews.com cut shares of Rapid7 from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. UBS Group upgraded shares of Rapid7 from a “neutral” rating to a “buy” rating and boosted their target price for the company from $53.00 to $70.00 in a research report on Monday, January 29th. Barclays boosted their target price on shares of Rapid7 from $58.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. Royal Bank of Canada restated an “outperform” rating and set a $70.00 target price on shares of Rapid7 in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. cut their target price on shares of Rapid7 from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th.

Rapid7 Stock Down 1.4 %

Shares of Rapid7 stock opened at $45.85 on Friday. Rapid7 has a 52-week low of $39.49 and a 52-week high of $61.88. The company has a 50-day simple moving average of $51.54 and a two-hundred day simple moving average of $53.08.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.27. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. The business had revenue of $205.27 million during the quarter, compared to analysts’ expectations of $201.52 million. As a group, analysts anticipate that Rapid7 will post 0.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $48.73, for a total value of $1,006,420.69. Following the completion of the transaction, the chief operating officer now directly owns 236,841 shares in the company, valued at $11,541,261.93. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO Andrew F. Burton sold 20,653 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $48.73, for a total value of $1,006,420.69. Following the transaction, the chief operating officer now owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Andrew F. Burton sold 31,727 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the completion of the transaction, the chief operating officer now directly owns 257,494 shares in the company, valued at approximately $13,665,206.58. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

Hedge funds have recently modified their holdings of the stock. Exchange Traded Concepts LLC raised its stake in Rapid7 by 73.7% during the third quarter. Exchange Traded Concepts LLC now owns 31,650 shares of the technology company’s stock valued at $1,449,000 after purchasing an additional 13,433 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in Rapid7 during the third quarter valued at $87,000. Lane Generational LLC raised its stake in Rapid7 by 31.7% during the third quarter. Lane Generational LLC now owns 77,363 shares of the technology company’s stock valued at $3,542,000 after purchasing an additional 18,621 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Rapid7 during the third quarter valued at $255,000. Finally, Raymond James & Associates raised its stake in Rapid7 by 41.5% during the third quarter. Raymond James & Associates now owns 100,806 shares of the technology company’s stock valued at $4,615,000 after purchasing an additional 29,543 shares in the last quarter. Hedge funds and other 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.