Rapid7 (RPD) Lifted to “Hold” at ValuEngine

ValuEngine upgraded shares of Rapid7 (NASDAQ:RPD) from a sell rating to a hold rating in a report issued on Sunday.

Several other brokerages also recently issued reports on RPD. Rosenblatt Securities reissued a buy rating and issued a $23.00 price objective on shares of Rapid7 in a research note on Thursday, December 14th. BidaskClub raised shares of Rapid7 from a hold rating to a buy rating in a research note on Saturday, October 7th. KeyCorp reissued a buy rating and issued a $25.00 price objective on shares of Rapid7 in a research note on Friday, October 6th. Needham & Company LLC assumed coverage on shares of Rapid7 in a research note on Monday, October 23rd. They issued a buy rating and a $23.00 price objective for the company. Finally, Royal Bank of Canada raised their price objective on shares of Rapid7 from $22.00 to $25.00 and gave the stock an outperform rating in a research note on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $21.05.

Rapid7 (NASDAQ RPD) opened at $19.01 on Friday. The company has a market capitalization of $818.82, a PE ratio of -19.20 and a beta of 0.68. Rapid7 has a 12-month low of $12.20 and a 12-month high of $20.25.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Tuesday, November 7th. The technology company reported ($0.15) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. The company had revenue of $50.50 million during the quarter, compared to analyst estimates of $49.87 million. Rapid7 had a negative return on equity of 115.79% and a negative net margin of 22.44%. The firm’s revenue was up 25.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.13) earnings per share. analysts expect that Rapid7 will post -1.05 earnings per share for the current fiscal year.

In other news, Chairman Alan Matthews sold 20,000 shares of Rapid7 stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $20.00, for a total transaction of $400,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lee David Weiner sold 21,125 shares of Rapid7 stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $17.93, for a total transaction of $378,771.25. The disclosure for this sale can be found here. In the last three months, insiders sold 1,097,353 shares of company stock valued at $20,151,788. 56.90% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. Citigroup Inc. raised its stake in Rapid7 by 1,398.9% in the second quarter. Citigroup Inc. now owns 9,788 shares of the technology company’s stock worth $165,000 after buying an additional 9,135 shares in the last quarter. BT Investment Management Ltd bought a new position in Rapid7 in the second quarter worth approximately $169,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in Rapid7 by 25.8% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 10,352 shares of the technology company’s stock worth $173,000 after buying an additional 2,124 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in Rapid7 in the third quarter worth approximately $187,000. Finally, Menta Capital LLC bought a new position in Rapid7 in the second quarter worth approximately $227,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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