Stock analysts at Needham & Company LLC started coverage on shares of Rapid7, Inc. (NASDAQ:RPD) in a note issued to investors on Monday, The Fly reports. The brokerage set a “buy” rating on the technology company’s stock.

A number of other research analysts have also issued reports on RPD. Zacks Investment Research lowered shares of Rapid7 from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Northland Securities reiterated a “buy” rating and issued a $23.00 target price on shares of Rapid7 in a research note on Friday, July 14th. BidaskClub lowered shares of Rapid7 from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. ValuEngine lowered shares of Rapid7 from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, UBS AG upgraded shares of Rapid7 from a “neutral” rating to a “positive” rating and set a $20.00 target price on the stock in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.19.

Shares of Rapid7 (NASDAQ:RPD) traded down 1.01% during mid-day trading on Monday, hitting $17.64. 42,758 shares of the stock traded hands. The stock has a 50-day moving average of $17.63 and a 200-day moving average of $17.63. Rapid7 has a 52 week low of $10.63 and a 52 week high of $19.29. The company’s market cap is $760.48 million.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Monday, August 7th. The technology company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.04. The business had revenue of $47.44 million for the quarter, compared to the consensus estimate of $46.31 million. Rapid7 had a negative net margin of 23.67% and a negative return on equity of 98.26%. Rapid7’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.22) EPS. Analysts anticipate that Rapid7 will post ($0.62) EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Needham & Company LLC Initiates Coverage on Rapid7, Inc. (RPD)” was published by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another domain, it was illegally stolen and republished in violation of US and international copyright & trademark law. The original version of this story can be accessed at https://www.americanbankingnews.com/2017/10/23/needham-company-llc-initiates-coverage-on-rapid7-inc-rpd.html.

In other Rapid7 news, insider Lee David Weiner sold 20,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $17.15, for a total value of $343,000.00. Following the sale, the insider now directly owns 76,212 shares in the company, valued at approximately $1,307,035.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Alan Matthews sold 52,770 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $17.22, for a total transaction of $908,699.40. Following the completion of the sale, the chairman now owns 3,152,177 shares in the company, valued at $54,280,487.94. The disclosure for this sale can be found here. Insiders sold a total of 93,770 shares of company stock worth $1,601,139 over the last quarter. 56.90% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of RPD. Swiss National Bank grew its position in Rapid7 by 21.5% in the 1st quarter. Swiss National Bank now owns 24,300 shares of the technology company’s stock worth $364,000 after purchasing an additional 4,300 shares during the last quarter. JPMorgan Chase & Co. grew its position in Rapid7 by 144.8% in the 1st quarter. JPMorgan Chase & Co. now owns 39,171 shares of the technology company’s stock worth $586,000 after purchasing an additional 23,173 shares during the last quarter. American International Group Inc. grew its position in Rapid7 by 7.1% in the 1st quarter. American International Group Inc. now owns 12,257 shares of the technology company’s stock worth $184,000 after purchasing an additional 815 shares during the last quarter. Alliancebernstein L.P. grew its position in Rapid7 by 1.4% in the 1st quarter. Alliancebernstein L.P. now owns 21,800 shares of the technology company’s stock worth $327,000 after purchasing an additional 300 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Rapid7 by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 1,341,474 shares of the technology company’s stock worth $20,096,000 after purchasing an additional 60,337 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Rapid7 Company Profile

Rapid7, Inc is a provider analytics for security and information technology (IT) operations that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The Company’s analytics enable organizations to contextualize and prioritize the threats facing their physical, virtual and cloud assets, including those posed by the behaviors of their users.

The Fly

Analyst Recommendations for Rapid7 (NASDAQ:RPD)

Receive News & Ratings for Rapid7 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rapid7 Inc. and related companies with MarketBeat.com's FREE daily email newsletter.