Rapid7 (NASDAQ:RPD) Earns Outperform Rating from Analysts at Cowen

Cowen started coverage on shares of Rapid7 (NASDAQ:RPD) in a research note published on Thursday, May 23rd, TipRanks reports. The brokerage issued an outperform rating and a $63.00 price target on the technology company’s stock.

A number of other equities research analysts also recently issued reports on RPD. Needham & Company LLC increased their price objective on shares of Rapid7 from $50.00 to $60.00 and gave the stock a buy rating in a research note on Monday, April 29th. BTIG Research raised their price target on shares of Rapid7 to $62.00 and gave the company a positive rating in a research note on Friday, May 3rd. Robert W. Baird began coverage on shares of Rapid7 in a research note on Wednesday, April 3rd. They issued an outperform rating and a $58.00 price target on the stock. Zacks Investment Research upgraded shares of Rapid7 from a hold rating to a buy rating and set a $58.00 price target on the stock in a research note on Thursday, April 11th. Finally, Stifel Nicolaus raised their price target on shares of Rapid7 from $52.00 to $58.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. Three equities research 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’s stock. The company has a consensus rating of Buy and an average target price of $55.19.

Shares of RPD traded down $0.19 during trading hours on Thursday, hitting $52.48. The company had a trading volume of 587,600 shares, compared to its average volume of 644,222. Rapid7 has a 12 month low of $26.27 and a 12 month high of $57.00. The firm has a market capitalization of $2.54 billion, a PE ratio of -51.96 and a beta of 1.17. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.49 and a quick ratio of 1.49.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.24. Rapid7 had a negative net margin of 19.35% and a negative return on equity of 46.34%. The business had revenue of $73.20 million for the quarter, compared to analyst estimates of $69.86 million. During the same period last year, the firm earned ($0.19) earnings per share. Rapid7’s revenue for the quarter was up 34.3% compared to the same quarter last year. Analysts predict that Rapid7 will post -0.61 earnings per share for the current fiscal year.

In other Rapid7 news, Director Thomas E. Schodorf sold 600 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $49.45, for a total transaction of $29,670.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Peter Kaes sold 17,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $52.45, for a total transaction of $917,875.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,737 shares of company stock worth $6,735,792. 4.90% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. FMR LLC increased its stake in Rapid7 by 195.6% during the 1st quarter. FMR LLC now owns 170,286 shares of the technology company’s stock valued at $8,619,000 after purchasing an additional 112,677 shares in the last quarter. Dana Investment Advisors Inc. bought a new stake in Rapid7 during the 1st quarter valued at $2,165,000. Ladenburg Thalmann Financial Services Inc. bought a new stake in Rapid7 during the 1st quarter valued at $42,000. Man Group plc purchased a new position in Rapid7 during the 1st quarter worth $1,897,000. Finally, M&T Bank Corp purchased a new position in Rapid7 during the 1st quarter worth $248,000. Institutional investors own 88.93% of the company’s stock.

Rapid7 Company Profile

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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