Rapid7 (NASDAQ:RPD) Now Covered by Scotiabank

Scotiabank started coverage on shares of Rapid7 (NASDAQ:RPD - Free Report) in a report issued on Friday morning, MarketBeat Ratings reports. The firm issued a sector perform rating and a $46.00 price objective on the technology company's stock.

Other research analysts have also recently issued reports about the stock. Barclays increased their target price on shares of Rapid7 from $58.00 to $60.00 and gave the company an equal weight rating in a report on Thursday, February 8th. Royal Bank of Canada reiterated an outperform rating and issued a $70.00 price target on shares of Rapid7 in a research report on Thursday, February 8th. Citigroup upgraded shares of Rapid7 from a neutral rating to a buy rating and increased their price target for the company from $54.00 to $65.00 in a research report on Tuesday, January 9th. StockNews.com lowered shares of Rapid7 from a buy rating to a hold rating in a research report on Wednesday, March 6th. Finally, UBS Group upgraded shares of Rapid7 from a neutral rating to a buy rating and increased their price target for the company from $53.00 to $70.00 in a research report on Monday, January 29th. Nine 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 has a consensus rating of Hold and an average target price of $55.56.

Rapid7 Trading Up 0.2 %

Shares of Rapid7 stock traded up $0.08 on Friday, reaching $45.93. 375,709 shares of the stock were exchanged, compared to its average volume of 715,263. Rapid7 has a 1-year low of $39.49 and a 1-year high of $61.88. The business has a fifty day moving average price of $51.25 and a two-hundred day moving average price of $53.03. The firm has a market capitalization of $2.86 billion, a PE ratio of -18.31 and a beta of 1.01.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $201.52 million. Research analysts expect that Rapid7 will post 0.86 EPS for the current year.

Insider Buying and Selling at Rapid7

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

Hedge Funds Weigh In On Rapid7

A number of hedge funds have recently made changes to their positions in RPD. Mather Group LLC. purchased a new stake in Rapid7 during the 1st quarter worth $42,000. International Assets Investment Management LLC increased its stake in Rapid7 by 3,367.9% during the 4th quarter. International Assets Investment Management LLC now owns 971 shares of the technology company's stock worth $55,000 after buying an additional 943 shares during the period. Financial Connections Group Inc. purchased a new stake in Rapid7 during the 4th quarter worth $95,000. Counterpoint Mutual Funds LLC purchased a new stake in Rapid7 during the 3rd quarter worth $87,000. Finally, Strs Ohio increased its stake in Rapid7 by 100.0% during the 3rd quarter. Strs Ohio now owns 2,600 shares of the technology company's stock worth $119,000 after buying an additional 1,300 shares during the period. Hedge funds and other institutional investors 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.