Rapid7 (NASDAQ:RPD) Earns Buy Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Rapid7 (NASDAQ:RPD) in a report issued on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $50.00 price objective on the technology company’s stock.

Several other analysts also recently weighed in on the company. UBS Group dropped their price objective on Rapid7 from $65.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and dropped their target price for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. Royal Bank of Canada lowered shares of Rapid7 from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $50.00 to $40.00 in a report on Friday, September 20th. JPMorgan Chase & Co. lowered their price objective on shares of Rapid7 from $46.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Rapid7 in a research report on Wednesday, August 7th. Fourteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.35.

Rapid7 Trading Down 1.0 %

Shares of NASDAQ:RPD opened at $39.80 on Wednesday. The stock has a market capitalization of $2.50 billion, a PE ratio of -47.38 and a beta of 0.97. The firm has a 50 day moving average of $37.25 and a 200-day moving average of $39.51. Rapid7 has a 12 month low of $32.94 and a 12 month high of $61.88.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.52 by $0.06. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. The business had revenue of $207.99 million during the quarter, compared to the consensus estimate of $204.04 million. During the same period in the previous year, the business earned ($0.33) earnings per share. The company’s revenue was up 9.2% on a year-over-year basis. On average, research analysts predict that Rapid7 will post 0.8 EPS for the current fiscal year.

Insider Buying and Selling at Rapid7

In other news, Director Reeny Sondhi sold 3,663 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction of $146,520.00. Following the completion of the transaction, the director now directly owns 17,460 shares in the company, valued at $698,400. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Rapid7

Large investors have recently modified their holdings of the company. Point72 Asset Management L.P. lifted its holdings in Rapid7 by 252.0% in the second quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock valued at $164,236,000 after buying an additional 2,719,791 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Rapid7 by 46.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,254,323 shares of the technology company’s stock worth $61,512,000 after acquiring an additional 397,968 shares in the last quarter. Cannae Holdings Inc. acquired a new position in shares of Rapid7 in the 2nd quarter valued at about $15,130,000. SG Americas Securities LLC boosted its position in shares of Rapid7 by 7,688.6% during the 2nd quarter. SG Americas Securities LLC now owns 165,196 shares of the technology company’s stock valued at $7,141,000 after purchasing an additional 163,075 shares in the last quarter. Finally, 272 Capital LP acquired a new stake in Rapid7 during the second quarter worth approximately $6,979,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.