Rapid7 (RPD) Upgraded to “Strong-Buy” at BidaskClub

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Rapid7 (NASDAQ:RPD) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday.

Several other analysts have also recently commented on the company. Needham & Company LLC raised their target price on Rapid7 from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, September 21st. Stifel Nicolaus raised their target price on Rapid7 from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, October 2nd. Monness Crespi & Hardt raised their target price on Rapid7 from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, November 7th. Zacks Investment Research upgraded Rapid7 from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Wednesday, October 10th. Finally, Berenberg Bank began coverage on Rapid7 in a research note on Thursday, November 29th. They set a “buy” rating and a $41.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $36.13.

Shares of Rapid7 stock traded down $0.10 on Thursday, reaching $35.49. 460,475 shares of the company were exchanged, compared to its average volume of 401,038. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -33.80 and a beta of 0.85. Rapid7 has a 1-year low of $21.18 and a 1-year high of $39.40.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Tuesday, November 6th. The technology company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.05. Rapid7 had a negative return on equity of 76.86% and a negative net margin of 23.83%. The business had revenue of $62.40 million for the quarter, compared to analysts’ expectations of $59.50 million. During the same period in the prior year, the firm earned ($0.15) EPS. The business’s quarterly revenue was up 23.6% on a year-over-year basis. Sell-side analysts predict that Rapid7 will post -1.02 earnings per share for the current year.

In other news, CFO Jeffrey Kalowski sold 10,012 shares of the firm’s stock in a transaction on Friday, November 9th. The stock was sold at an average price of $34.22, for a total transaction of $342,610.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lee David Weiner sold 5,580 shares of the firm’s stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $31.78, for a total value of $177,332.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,221,685 shares of company stock valued at $73,293,780. 25.60% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in RPD. Alliancebernstein L.P. boosted its stake in shares of Rapid7 by 3,076.7% during the 3rd quarter. Alliancebernstein L.P. now owns 1,226,757 shares of the technology company’s stock worth $45,292,000 after acquiring an additional 1,188,140 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Rapid7 during the 3rd quarter worth $38,775,000. BlackRock Inc. boosted its stake in shares of Rapid7 by 64.5% during the 2nd quarter. BlackRock Inc. now owns 2,557,393 shares of the technology company’s stock worth $72,171,000 after acquiring an additional 1,002,292 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Rapid7 by 843,883.3% during the 3rd quarter. Clearbridge Investments LLC now owns 557,029 shares of the technology company’s stock worth $20,566,000 after acquiring an additional 556,963 shares in the last quarter. Finally, SQN Investors LP bought a new stake in shares of Rapid7 during the 3rd quarter worth $16,045,000. 83.43% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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