BidaskClub upgraded shares of Rapid7 (NASDAQ:RPD) from a buy rating to a strong-buy rating in a report published on Thursday morning.
Several other research firms have also recently weighed in on RPD. Morgan Stanley set a $35.00 price target on Rapid7 and gave the company a hold rating in a report on Wednesday, November 7th. Needham & Company LLC upped their price objective on Rapid7 from $37.00 to $42.00 and gave the stock a buy rating in a research note on Friday, September 21st. Monness Crespi & Hardt upped their price objective on Rapid7 from $38.00 to $41.00 and gave the stock a buy rating in a research note on Wednesday, November 7th. Zacks Investment Research lowered Rapid7 from a buy rating to a hold rating in a research note on Thursday, November 15th. Finally, Berenberg Bank started coverage on Rapid7 in a research note on Thursday, November 29th. They issued a buy rating and a $41.00 price target for the company. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Rapid7 currently has an average rating of Buy and an average price target of $36.13.
Shares of NASDAQ RPD traded down $0.10 during midday trading on Thursday, hitting $35.49. 460,400 shares of the stock traded hands, compared to its average volume of 401,038. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -33.82 and a beta of 0.85. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.83 and a quick ratio of 1.83. Rapid7 has a one year low of $21.18 and a one year high of $39.40.
In other news, insider Lee David Weiner sold 5,580 shares of the firm’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $31.78, for a total transaction of $177,332.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Andrew F. Burton sold 6,780 shares of the firm’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $31.79, for a total value of $215,536.20. The disclosure for this sale can be found here. Insiders sold a total of 2,221,685 shares of company stock valued at $73,293,780 in the last quarter. 25.60% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of RPD. Rhumbline Advisers grew its position in shares of Rapid7 by 40.9% during the second quarter. Rhumbline Advisers now owns 34,349 shares of the technology company’s stock valued at $969,000 after purchasing an additional 9,963 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Rapid7 by 40.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 200,728 shares of the technology company’s stock worth $5,665,000 after purchasing an additional 58,205 shares during the last quarter. BlackRock Inc. lifted its stake in Rapid7 by 64.5% in the second quarter. BlackRock Inc. now owns 2,557,393 shares of the technology company’s stock worth $72,171,000 after purchasing an additional 1,002,292 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in Rapid7 by 44.6% in the second quarter. Great West Life Assurance Co. Can now owns 75,471 shares of the technology company’s stock worth $2,135,000 after purchasing an additional 23,284 shares during the last quarter. Finally, BlueMountain Capital Management LLC lifted its stake in Rapid7 by 38.5% in the second quarter. BlueMountain Capital Management LLC now owns 19,599 shares of the technology company’s stock worth $553,000 after purchasing an additional 5,453 shares during the last quarter. Hedge funds and other institutional investors own 83.43% of the company’s stock.
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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