Rapid7, Inc. (NASDAQ:RPD) Receives $56.20 Consensus PT from Analysts

Rapid7, Inc. (NASDAQ:RPD) has earned an average recommendation of “Hold” from the twelve analysts that are currently covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $56.20.

Several analysts have commented on the stock. Citigroup upgraded shares of Rapid7 from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $54.00 to $65.00 in a research note on Tuesday, January 9th. 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 note on Monday, January 29th. StockNews.com cut shares of Rapid7 from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. JPMorgan Chase & Co. decreased their target price on shares of Rapid7 from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 target price on shares of Rapid7 in a research note on Thursday, February 8th.

Insider Buying and Selling

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

Institutional Investors Weigh In On Rapid7

A number of large investors have recently modified their holdings of RPD. Hawk Ridge Capital Management LP grew its holdings in shares of Rapid7 by 757.7% during the third quarter. Hawk Ridge Capital Management LP now owns 1,592,259 shares of the technology company’s stock worth $72,894,000 after buying an additional 1,406,619 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Rapid7 by 49.2% during the fourth quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock worth $194,668,000 after buying an additional 1,124,429 shares in the last quarter. Norges Bank purchased a new stake in shares of Rapid7 during the fourth quarter worth $37,790,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Rapid7 by 40.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,237,023 shares of the technology company’s stock worth $56,631,000 after buying an additional 355,192 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Rapid7 during the third quarter worth $13,972,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Rapid7 Stock Performance

Shares of NASDAQ RPD opened at $45.85 on Friday. Rapid7 has a 12 month low of $39.49 and a 12 month 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 announced its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.40 EPS for the quarter, beating 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. Equities research analysts forecast that Rapid7 will post 0.86 earnings per share for the current year.

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.