Rapid7 (NASDAQ:RPD) Now Covered by Scotiabank

Equities researchers at Scotiabank began coverage on shares of Rapid7 (NASDAQ:RPD) in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm set a “sector perform” rating and a $46.00 price target on the technology company’s stock. Scotiabank’s price objective would suggest a potential upside of 0.15% from the company’s previous close.

Several other equities research analysts have also recently issued reports on RPD. UBS Group raised shares of Rapid7 from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $53.00 to $70.00 in a research report on Monday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 price target on shares of Rapid7 in a research note on Thursday, February 8th. Citigroup upgraded shares of Rapid7 from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $54.00 to $65.00 in a research note on Tuesday, January 9th. StockNews.com lowered shares of Rapid7 from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, JPMorgan Chase & Co. cut their price target on shares of Rapid7 from $61.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $55.56.

Rapid7 Stock Up 0.2 %

Shares of RPD stock opened at $45.93 on Friday. Rapid7 has a 52 week low of $39.49 and a 52 week high of $61.88. The stock has a market capitalization of $2.86 billion, a PE ratio of -18.30 and a beta of 1.01. The firm has a 50 day moving average of $50.97 and a two-hundred day moving average of $53.02.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.13 by $0.27. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. The company had revenue of $205.27 million during the quarter, compared to analysts’ expectations of $201.52 million. Analysts expect that Rapid7 will post 0.86 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Andrew F. Burton sold 31,727 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the sale, the chief operating officer now owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $48.73, for a total value of $1,006,420.69. Following the sale, the chief operating officer now owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andrew F. Burton sold 31,727 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the completion of the sale, the chief operating officer now directly owns 257,494 shares in the company, valued at approximately $13,665,206.58. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Rapid7

Institutional investors have recently modified their holdings of the company. Mather Group LLC. acquired a new position in shares of Rapid7 in the first quarter valued at approximately $42,000. International Assets Investment Management LLC raised its position in shares of Rapid7 by 3,367.9% in the fourth quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock valued at $55,000 after buying an additional 943 shares during the last quarter. Financial Connections Group Inc. acquired a new position in shares of Rapid7 in the fourth quarter valued at approximately $95,000. Counterpoint Mutual Funds LLC acquired a new position in Rapid7 during the third quarter worth approximately $87,000. Finally, Strs Ohio increased its position in Rapid7 by 100.0% during the third quarter. Strs Ohio now owns 2,600 shares of the technology company’s stock worth $119,000 after purchasing an additional 1,300 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Rapid7 Company Profile

Rapid7, Inc provides cybersecurity solutions under the Rapid7, Nexpose, and Metasploit brand names. The company offers endpoint to cloud data collection and sharing applications, such as Rapid7 Insight Agent, a software-based agent that is used on assets across on-premises and cloud environments to centralize and monitor data on company's platform; Rapid7 Insight Network Sensor that analyzes raw end-to-end network traffic to increase visibility into user activity, pinpoint real threats, and investigations; Rapid7 Cloud Event Data Harvesting that offers visibility into changes made to cloud resources; and third-party integrations and ecosystem, as well as orchestration and automation solutions.