Robert W. Baird set a $72.00 target price on Rapid7 (NASDAQ:RPD) in a research report sent to investors on Tuesday, TipRanks reports. The firm currently has a buy rating on the technology company’s stock.
Several other equities analysts have also commented on RPD. Zacks Investment Research lowered Rapid7 from a buy rating to a hold rating in a research note on Friday, July 26th. Barclays reissued a buy rating and issued a $69.00 price target on shares of Rapid7 in a research note on Thursday, July 18th. SunTrust Banks initiated coverage on Rapid7 in a research note on Wednesday, October 2nd. They issued a buy rating and a $66.00 price target on the stock. Needham & Company LLC raised their price target on Rapid7 from $60.00 to $72.00 and gave the stock a buy rating in a research note on Monday, July 29th. Finally, Nomura initiated coverage on Rapid7 in a research note on Friday, June 28th. They issued a buy rating and a $70.00 price target on the stock. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $63.22.
Shares of RPD opened at $50.00 on Tuesday. The stock has a fifty day moving average of $50.72 and a two-hundred day moving average of $53.88. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market capitalization of $2.33 billion, a PE ratio of -49.50 and a beta of 1.20. Rapid7 has a fifty-two week low of $26.27 and a fifty-two week high of $66.01.
Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.26. Rapid7 had a negative return on equity of 39.52% and a negative net margin of 17.63%. The business had revenue of $78.96 million for the quarter, compared to analysts’ expectations of $75.14 million. During the same quarter last year, the firm earned ($0.13) earnings per share. The business’s revenue was up 35.1% on a year-over-year basis. As a group, equities research analysts forecast that Rapid7 will post -0.62 earnings per share for the current fiscal year.
In other Rapid7 news, COO Andrew F. Burton sold 49,438 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $51.61, for a total value of $2,551,495.18. Also, SVP Peter Kaes sold 12,881 shares of Rapid7 stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $50.03, for a total value of $644,436.43. Over the last three months, insiders sold 143,462 shares of company stock worth $7,610,674. 4.90% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Rapid7 by 10.8% in the 2nd quarter. Vanguard Group Inc. now owns 4,101,944 shares of the technology company’s stock valued at $237,256,000 after purchasing an additional 400,958 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Rapid7 by 26.2% in the 2nd quarter. BlackRock Inc. now owns 3,421,810 shares of the technology company’s stock valued at $197,918,000 after purchasing an additional 710,437 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Rapid7 by 13.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,782,405 shares of the technology company’s stock valued at $103,095,000 after purchasing an additional 216,413 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Rapid7 by 39.8% in the 2nd quarter. Invesco Ltd. now owns 1,089,199 shares of the technology company’s stock valued at $62,999,000 after purchasing an additional 310,330 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in shares of Rapid7 by 52.9% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,044,389 shares of the technology company’s stock valued at $60,407,000 after purchasing an additional 361,259 shares in the last quarter. 91.02% of the stock is currently owned by institutional investors and hedge funds.
Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enable 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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