Stock analysts at DA Davidson started coverage on shares of Rapid7 (NASDAQ:RPD – Get Rating) in a research note issued to investors on Thursday, The Fly reports. The brokerage set a "neutral" rating and a $34.00 price target on the technology company's stock. DA Davidson's price objective indicates a potential upside of 0.24% from the stock's current price.
A number of other analysts have also recently commented on the company. Berenberg Bank assumed coverage on Rapid7 in a research report on Thursday, October 20th. They issued a "hold" rating and a $44.00 price objective for the company. BTIG Research assumed coverage on Rapid7 in a research note on Friday, September 23rd. They issued a "neutral" rating on the stock. Canaccord Genuity Group assumed coverage on Rapid7 in a research note on Tuesday, October 11th. They issued a "buy" rating and a $60.00 price target on the stock. Mizuho lowered their price target on Rapid7 from $45.00 to $40.00 and set a "neutral" rating on the stock in a research note on Thursday, December 8th. Finally, Canaccord Genuity Group lowered their price target on Rapid7 from $60.00 to $55.00 in a research note on Thursday, November 3rd. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $62.53.
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Rapid7 Price Performance
Rapid7 stock opened at $33.92 on Thursday. The stock has a market capitalization of $2.01 billion, a PE ratio of -12.38 and a beta of 1.16. Rapid7 has a 12 month low of $26.49 and a 12 month high of $118.25. The business has a 50 day simple moving average of $31.93 and a 200-day simple moving average of $48.12.
Rapid7 (NASDAQ:RPD – Get Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The technology company reported ($0.39) EPS for the quarter, beating analysts' consensus estimates of ($0.45) by $0.06. The business had revenue of $175.77 million during the quarter, compared to analysts' expectations of $176.13 million. On average, equities research analysts anticipate that Rapid7 will post -1.86 EPS for the current fiscal year.
Insider Transactions at Rapid7
In other Rapid7 news, CFO Timothy M. Adams acquired 2,500 shares of the stock in a transaction dated Monday, December 5th. The stock was acquired at an average cost of $30.00 per share, with a total value of $75,000.00. Following the transaction, the chief financial officer now owns 109,294 shares in the company, valued at approximately $3,278,820. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Corey E. Thomas sold 41,619 shares of the company's stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $29.19, for a total value of $1,214,858.61. Following the completion of the sale, the chief executive officer now directly owns 428,074 shares of the company's stock, valued at approximately $12,495,480.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Timothy M. Adams bought 2,500 shares of the firm's stock in a transaction that occurred on Monday, December 5th. The stock was purchased at an average cost of $30.00 per share, with a total value of $75,000.00. Following the completion of the transaction, the chief financial officer now owns 109,294 shares in the company, valued at $3,278,820. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 124,857 shares of company stock valued at $3,923,423. 2.80% of the stock is currently owned by corporate insiders.
Institutional Trading of Rapid7
A number of large investors have recently made changes to their positions in RPD. First Horizon Advisors Inc. lifted its position in Rapid7 by 103.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 434 shares of the technology company's stock worth $28,000 after acquiring an additional 221 shares during the period. Ellevest Inc. acquired a new stake in Rapid7 during the 3rd quarter worth approximately $31,000. CWM LLC lifted its position in Rapid7 by 96.7% during the 3rd quarter. CWM LLC now owns 1,119 shares of the technology company's stock worth $48,000 after acquiring an additional 550 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new stake in Rapid7 during the 3rd quarter worth approximately $54,000. Finally, Assetmark Inc. lifted its position in Rapid7 by 35.6% during the 2nd quarter. Assetmark Inc. now owns 1,010 shares of the technology company's stock worth $67,000 after acquiring an additional 265 shares during the period. 97.91% of the stock is owned by institutional investors and hedge funds.
Rapid7 Company Profile
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Rapid7, Inc provides cyber security solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cyber security risk management programs. Its platform includes InsightIDR, an incident detection and response solution; InsightCloudSec, a solution that integrates posture management, workload protection, infrastructure entitlements management, infrastructure-as-code security, and Kubernetes protection; InsightVM, a vulnerability risk management solution that is designed to provide a way to collect vulnerability data, prioritize risk, and automate remediation; InsightAppSec, which provides application security testing that analyzes web applications for security vulnerabilities; and InsightConnect, a security orchestration and automation response solution that is used by security professionals.
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