JPMorgan Chase & Co. assumed coverage on shares of Rapid7 (NASDAQ:RPD – Get Rating) in a report issued on Tuesday morning, The Fly reports. The brokerage issued a neutral rating and a $38.00 price objective on the technology company's stock.
A number of other research firms also recently commented on RPD. KeyCorp dropped their price objective on shares of Rapid7 from $86.00 to $57.00 and set an overweight rating for the company in a research note on Monday, October 24th. Wolfe Research cut Rapid7 from an outperform rating to a market perform rating in a report on Thursday, November 3rd. Piper Sandler reduced their target price on Rapid7 from $50.00 to $45.00 and set an overweight rating for the company in a research note on Thursday, January 5th. Royal Bank of Canada reduced their target price on Rapid7 from $57.00 to $47.00 and set an outperform rating for the company in a research note on Thursday, November 3rd. Finally, Canaccord Genuity Group reduced their target price on Rapid7 from $60.00 to $55.00 in a research note on Thursday, November 3rd. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average target price of $61.17.
Get Rapid7 alerts:Rapid7 Stock Up 7.9 %
NASDAQ:RPD opened at $39.38 on Tuesday. The company has a market capitalization of $2.33 billion, a PE ratio of -14.37 and a beta of 1.16. Rapid7 has a 52-week low of $26.49 and a 52-week high of $118.25. The stock has a fifty day simple moving average of $33.14 and a 200-day simple moving average of $45.68.
Rapid7 (NASDAQ:RPD – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The technology company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.06. The firm had revenue of $175.77 million for the quarter, compared to analyst estimates of $176.13 million. As a group, equities analysts anticipate that Rapid7 will post -1.86 earnings per share for the current year.Insider Transactions at Rapid7
In other news, CEO Corey E. Thomas sold 41,619 shares of the stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $36.68, for a total value of $1,526,584.92. Following the completion of the transaction, the chief executive officer now owns 428,074 shares of the company's stock, valued at $15,701,754.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, 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 acquired at an average price of $30.00 per share, with a total value of $75,000.00. Following the completion of the purchase, the chief financial officer now directly owns 109,294 shares of the company's stock, valued at approximately $3,278,820. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Corey E. Thomas sold 41,619 shares of the firm's stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $36.68, for a total value of $1,526,584.92. Following the transaction, the chief executive officer now directly owns 428,074 shares of the company's stock, valued at approximately $15,701,754.32. The disclosure for this sale can be found here. Over the last quarter, 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 Inflows and Outflows
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Rapid7 by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 5,446,543 shares of the technology company's stock valued at $233,657,000 after purchasing an additional 64,816 shares during the period. Wasatch Advisors Inc. boosted its position in shares of Rapid7 by 11.0% in the 1st quarter. Wasatch Advisors Inc. now owns 2,454,833 shares of the technology company's stock valued at $273,076,000 after purchasing an additional 243,040 shares during the period. First Trust Advisors LP boosted its position in shares of Rapid7 by 8.2% in the 3rd quarter. First Trust Advisors LP now owns 2,113,327 shares of the technology company's stock valued at $90,662,000 after purchasing an additional 160,922 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Rapid7 by 5.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,039,366 shares of the technology company's stock valued at $136,229,000 after purchasing an additional 99,953 shares during the period. Finally, Pictet Asset Management SA lifted its stake in Rapid7 by 4.7% in the 2nd quarter. Pictet Asset Management SA now owns 1,730,701 shares of the technology company's stock worth $115,611,000 after acquiring an additional 77,350 shares in the last quarter. Institutional investors own 97.91% of the company's stock.
Rapid7 Company Profile
(Get Rating)
Rapid7, Inc engages in the provision of cyber security analytics and automation services. Its products include Metasploit, Nexpose, AppSpider, tCell by Rapid7, as well as insight platforms such as InsightDR, InsightIVM, InsightAppSec, InsightConnect, and InsightOps. The firm also offers security and product consulting services.
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