DA Davidson Increases Rapid7 (RPD) Price Target to $40.00

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Rapid7 (NASDAQ:RPD) had its price target lifted by DA Davidson to $40.00 in a research note published on Friday, The Fly reports. The firm currently has a neutral rating on the technology company’s stock. The analysts noted that the move was a valuation call.

Other equities analysts also recently issued research reports about the stock. BTIG Research upgraded shares of Rapid7 from a neutral rating to a buy rating and set a $42.00 price objective for the company in a research report on Tuesday, January 15th. Monness Crespi & Hardt restated a buy rating and set a $49.00 price objective (up previously from $41.00) on shares of Rapid7 in a research report on Friday. Zacks Investment Research upgraded shares of Rapid7 from a hold rating to a buy rating and set a $41.00 price objective for the company in a research report on Tuesday, January 22nd. BidaskClub downgraded shares of Rapid7 from a buy rating to a hold rating in a research report on Thursday, November 15th. Finally, Berenberg Bank initiated coverage on shares of Rapid7 in a research report on Thursday, November 29th. They set a buy rating and a $41.00 price objective for the company. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $41.43.

Shares of Rapid7 stock opened at $45.89 on Friday. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of -45.44 and a beta of 1.14. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 1.85. Rapid7 has a one year low of $21.33 and a one year high of $46.02.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Thursday, February 7th. The technology company reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.04. The company had revenue of $70.64 million during the quarter, compared to the consensus estimate of $66.66 million. Rapid7 had a negative net margin of 22.76% and a negative return on equity of 59.16%. Rapid7’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.17) EPS. On average, equities research analysts forecast that Rapid7 will post -0.58 earnings per share for the current year.

In related news, SVP Peter Kaes sold 9,809 shares of the stock in a transaction dated Tuesday, January 29th. The shares were sold at an average price of $38.00, for a total value of $372,742.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jeffrey Kalowski sold 15,000 shares of the stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $31.84, for a total transaction of $477,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,769 shares of company stock worth $1,841,911. Corporate insiders own 25.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of RPD. Raymond James & Associates grew its stake in Rapid7 by 16.0% in the 2nd quarter. Raymond James & Associates now owns 60,921 shares of the technology company’s stock valued at $1,719,000 after acquiring an additional 8,386 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Rapid7 by 37.9% during the 2nd quarter. Northern Trust Corp now owns 454,075 shares of the technology company’s stock worth $12,814,000 after purchasing an additional 124,722 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Rapid7 by 2,523.8% during the 3rd quarter. Bank of Montreal Can now owns 190,465 shares of the technology company’s stock worth $7,032,000 after purchasing an additional 183,206 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Rapid7 by 2.2% during the 3rd quarter. First Trust Advisors LP now owns 155,376 shares of the technology company’s stock worth $5,736,000 after purchasing an additional 3,351 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new stake in shares of Rapid7 during the 3rd quarter worth about $688,000. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

Rapid7 Company Profile

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enables 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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