Rapid7 (RPD) Price Target Raised to $61.00

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Rapid7 (NASDAQ:RPD) had its price target increased by Barclays from $48.00 to $61.00 in a research report released on Friday morning, Stock Target Advisor reports. They currently have an overweight rating on the technology company’s stock.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Rapid7 from a hold rating to a buy rating and set a $46.00 target price for the company in a research report on Tuesday, February 5th. Needham & Company LLC reissued a buy rating and issued a $50.00 target price (up previously from $42.00) on shares of Rapid7 in a research report on Friday, February 8th. Monness Crespi & Hardt reissued a buy rating and issued a $49.00 target price (up previously from $41.00) on shares of Rapid7 in a research report on Friday, February 8th. BTIG Research raised shares of Rapid7 from a neutral rating to a buy rating and set a $42.00 target price for the company in a research report on Tuesday, January 15th. Finally, Mizuho initiated coverage on shares of Rapid7 in a research report on Tuesday, March 26th. They issued a buy rating and a $59.00 target price for the company. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. Rapid7 currently has an average rating of Buy and a consensus price target of $46.75.

NASDAQ:RPD opened at $52.42 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 2.00. The firm has a market cap of $2.51 billion, a P/E ratio of -51.90 and a beta of 1.20. Rapid7 has a twelve month low of $26.27 and a twelve month high of $53.87.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Thursday, February 7th. The technology company reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.04. Rapid7 had a negative net margin of 22.76% and a negative return on equity of 57.61%. The business had revenue of $70.64 million for the quarter, compared to analyst estimates of $66.66 million. During the same quarter in the previous year, the business posted ($0.17) EPS. The business’s quarterly revenue was up 22.4% on a year-over-year basis. Sell-side analysts forecast that Rapid7 will post -0.49 EPS for the current year.

In other news, COO Andrew F. Burton sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $36.40, for a total value of $546,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas E. Schodorf sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $51.00, for a total transaction of $30,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 177,955 shares of company stock valued at $7,956,923. 25.60% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. Chartwell Investment Partners LLC lifted its stake in shares of Rapid7 by 9.8% in the 1st quarter. Chartwell Investment Partners LLC now owns 340,869 shares of the technology company’s stock worth $17,251,000 after acquiring an additional 30,324 shares during the period. Legacy Advisors LLC acquired a new stake in Rapid7 during the first quarter valued at approximately $285,000. Geode Capital Management LLC lifted its stake in Rapid7 by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 464,896 shares of the technology company’s stock valued at $14,485,000 after purchasing an additional 31,004 shares during the last quarter. FMR LLC acquired a new stake in Rapid7 during the fourth quarter valued at approximately $1,795,000. Finally, Millennium Management LLC acquired a new stake in Rapid7 during the fourth quarter valued at approximately $4,419,000. 86.12% of the stock is owned by institutional investors.

About Rapid7

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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Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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