Rapid7 (RPD) Coverage Initiated by Analysts at Cowen

Stock analysts at Cowen began coverage on shares of Rapid7 (NASDAQ:RPD) in a report issued on Thursday, Briefing.com Automated Import reports. The firm set an “outperform” rating and a $63.00 price target on the technology company’s stock. Cowen’s price objective indicates a potential upside of 19.98% from the company’s current price.

A number of other research firms also recently commented on RPD. Morgan Stanley set a $42.00 price objective on Rapid7 and gave the company a “hold” rating in a report on Friday, February 8th. Robert W. Baird initiated coverage on Rapid7 in a report on Wednesday, April 3rd. They issued an “outperform” rating and a $58.00 price objective for the company. Raymond James upgraded Rapid7 from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $39.00 to $45.00 in a report on Tuesday, January 29th. Zacks Investment Research downgraded Rapid7 from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. Finally, Northland Securities reiterated a “buy” rating and issued a $64.00 price objective on shares of Rapid7 in a report on Friday, May 3rd. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $55.19.

RPD stock opened at $52.51 on Thursday. The firm has a market cap of $2.53 billion, a PE ratio of -51.99 and a beta of 1.20. Rapid7 has a twelve month low of $26.27 and a twelve month high of $57.00. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 2.18.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.24. The business had revenue of $73.20 million during the quarter, compared to the consensus estimate of $69.86 million. Rapid7 had a negative return on equity of 46.34% and a negative net margin of 19.35%. The firm’s revenue was up 34.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.19) earnings per share. On average, equities research analysts predict that Rapid7 will post -0.61 earnings per share for the current fiscal year.

In other Rapid7 news, CEO Corey E. Thomas sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $52.58, for a total value of $262,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Corey E. Thomas sold 50,000 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $51.31, for a total value of $2,565,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 141,887 shares of company stock valued at $7,104,136. Insiders own 4.90% of the company’s stock.

Large investors have recently bought and sold shares of the business. Harvest Group Wealth Management LLC acquired a new position in shares of Rapid7 during the first quarter worth about $25,000. Private Capital Group LLC boosted its position in shares of Rapid7 by 80.4% during the first quarter. Private Capital Group LLC now owns 745 shares of the technology company’s stock worth $38,000 after buying an additional 332 shares during the period. Ladenburg Thalmann Financial Services Inc. acquired a new position in shares of Rapid7 during the first quarter worth about $42,000. Pearl River Capital LLC acquired a new position in shares of Rapid7 during the fourth quarter worth about $47,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Rapid7 during the first quarter worth about $51,000. 83.91% of the stock is owned by hedge funds and other institutional investors.

About Rapid7

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enable customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.

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Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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