Rapid7 (RPD) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Rapid7 (NASDAQ:RPD) from a hold rating to a buy rating in a research report report published on Wednesday. The firm currently has $40.00 price target on the technology company’s stock.

According to Zacks, “Rapid7, Inc. offers security data and analytics solutions. The Company provides solutions which consist of threat exposure management, incident detection and response solutions as well as security advisory services. Rapid7, Inc. is based in Boston, United States. “

Other analysts also recently issued research reports about the stock. BidaskClub upgraded shares of Rapid7 from a buy rating to a strong-buy rating in a report on Saturday, August 25th. Stifel Nicolaus raised their price objective on shares of Rapid7 from $42.00 to $44.00 and gave the stock a buy rating in a report on Tuesday, October 2nd. Needham & Company LLC raised their price objective on shares of Rapid7 from $37.00 to $42.00 and gave the stock a buy rating in a report on Friday, September 21st. BTIG Research downgraded shares of Rapid7 from a buy rating to a neutral rating in a report on Monday, June 18th. Finally, KeyCorp raised their price objective on shares of Rapid7 from $35.00 to $38.00 and gave the stock an overweight rating in a report on Tuesday, August 7th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $35.21.

Shares of RPD stock traded up $1.06 on Wednesday, hitting $33.91. The stock had a trading volume of 478,198 shares, compared to its average volume of 470,651. The company has a market cap of $1.73 billion, a P/E ratio of -32.30 and a beta of 1.13. Rapid7 has a 12-month low of $17.26 and a 12-month high of $39.40.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Monday, August 6th. The technology company reported ($0.13) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.05. The company had revenue of $58.40 million during the quarter, compared to the consensus estimate of $55.14 million. Rapid7 had a negative net margin of 24.40% and a negative return on equity of 105.43%. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.14) earnings per share. On average, equities research analysts predict that Rapid7 will post -1.01 earnings per share for the current year.

In other Rapid7 news, insider Vii Lp Tcv sold 182,600 shares of the stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $37.96, for a total transaction of $6,931,496.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Andrew F. Burton sold 7,000 shares of the stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $36.23, for a total transaction of $253,610.00. The disclosure for this sale can be found here. Insiders have sold 265,732 shares of company stock valued at $9,833,222 in the last 90 days. 25.60% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Barclays PLC boosted its position in Rapid7 by 68.6% during the first quarter. Barclays PLC now owns 5,718 shares of the technology company’s stock worth $146,000 after purchasing an additional 2,327 shares during the period. MetLife Investment Advisors LLC boosted its position in Rapid7 by 25.1% during the first quarter. MetLife Investment Advisors LLC now owns 12,764 shares of the technology company’s stock worth $326,000 after purchasing an additional 2,557 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Rapid7 by 25.9% during the second quarter. State Board of Administration of Florida Retirement System now owns 14,585 shares of the technology company’s stock worth $412,000 after purchasing an additional 3,000 shares during the period. American International Group Inc. boosted its position in Rapid7 by 22.5% during the first quarter. American International Group Inc. now owns 17,635 shares of the technology company’s stock worth $451,000 after purchasing an additional 3,241 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in Rapid7 by 3.9% during the second quarter. Public Employees Retirement System of Ohio now owns 87,077 shares of the technology company’s stock worth $2,457,000 after purchasing an additional 3,241 shares during the period. Hedge funds and other institutional investors own 77.91% of the company’s stock.

About Rapid7

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enables customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.

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