Rapid7 (RPD) Given “Buy” Rating at Needham & Company LLC

Rapid7 (NASDAQ:RPD)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a report issued on Monday. They presently have a $30.00 price target on the technology company’s stock. Needham & Company LLC’s target price indicates a potential upside of 29.59% from the company’s current price.

A number of other brokerages have also recently weighed in on RPD. Royal Bank of Canada reissued a “buy” rating and set a $30.00 target price on shares of Rapid7 in a report on Friday, January 26th. KeyCorp reissued an “overweight” rating and set a $30.00 target price (up from $25.00) on shares of Rapid7 in a report on Tuesday, January 30th. BidaskClub raised shares of Rapid7 from a “hold” rating to a “buy” rating in a report on Saturday. ValuEngine raised shares of Rapid7 from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research raised shares of Rapid7 from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Saturday, January 13th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $24.05.

Rapid7 (RPD) traded down $0.58 on Monday, reaching $23.15. 1,351,172 shares of the company traded hands, compared to its average volume of 517,018. The firm has a market capitalization of $1,080.00 and a PE ratio of -23.38. Rapid7 has a 1 year low of $13.42 and a 1 year high of $25.95.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Monday, February 12th. The technology company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.01. The firm had revenue of $57.73 million for the quarter, compared to analysts’ expectations of $57.39 million. Rapid7 had a negative net margin of 22.44% and a negative return on equity of 115.79%. The firm’s quarterly revenue was up 28.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.13) earnings per share. sell-side analysts expect that Rapid7 will post -1.04 EPS for the current year.

In other news, insider Corey E. Thomas sold 250,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $21.01, for a total transaction of $5,252,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Vii Lp Tcv sold 102,465 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $18.33, for a total transaction of $1,878,183.45. The disclosure for this sale can be found here. Insiders have sold 2,447,711 shares of company stock valued at $51,043,856 in the last 90 days. Insiders own 56.90% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors Inc. grew its position in shares of Rapid7 by 5.2% during the fourth quarter. Wasatch Advisors Inc. now owns 2,088,008 shares of the technology company’s stock worth $38,962,000 after acquiring an additional 103,934 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Rapid7 by 6.5% during the second quarter. Vanguard Group Inc. now owns 1,428,575 shares of the technology company’s stock worth $24,044,000 after acquiring an additional 87,101 shares during the last quarter. BlackRock Inc. grew its position in shares of Rapid7 by 3.2% during the fourth quarter. BlackRock Inc. now owns 1,223,915 shares of the technology company’s stock worth $22,837,000 after acquiring an additional 38,238 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in shares of Rapid7 by 62.3% during the third quarter. Frontier Capital Management Co. LLC now owns 720,672 shares of the technology company’s stock worth $12,684,000 after acquiring an additional 276,627 shares during the last quarter. Finally, Cortina Asset Management LLC grew its position in shares of Rapid7 by 62.8% during the fourth quarter. Cortina Asset Management LLC now owns 556,533 shares of the technology company’s stock worth $10,385,000 after acquiring an additional 214,780 shares during the last quarter. Institutional investors and hedge funds own 68.49% of the company’s stock.

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About Rapid7

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.

Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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