Rapid7 (NASDAQ:RPD) Upgraded to Buy at Canaccord Genuity Group

Canaccord Genuity Group updated shares of Rapid7 (NASDAQ:RPD – Free Report) from a hold rating to a buy rating in a report on Wednesday morning, StockNewsAPI reports. Canaccord Genuity Group presently has a $43.00 price objective on the technology company’s stock, down from their previous price objective of $52.00.

RPD has been the subject of a number of other research reports. Truist Financial lowered their price objective on shares of Rapid7 from $50.00 to $45.00 and set a hold rating on the stock in a report on Wednesday, May 8th. Mizuho cut their price target on Rapid7 from $62.00 to $47.00 and set a neutral rating on the stock in a research note on Wednesday, May 8th. Stifel Nicolaus cut their price target on Rapid7 from $63.00 to $51.00 and set a buy rating for the company in a report on Wednesday, May 8th. UBS Group dropped their price target on shares of Rapid7 from $70.00 to $65.00 and set a buy rating on the stock in a research note on Wednesday, May 8th. Finally, Baird RW cut shares of Rapid7 from a strong-buy rating to a hold rating in a report on Thursday, August 1st. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $46.75, according to MarketBeat.com.

Read our latest report on DPR

Rapid7 stock down 1.7%

Shares of NASDAQ:RPD opened at $36.16 on Wednesday. The company’s fifty-day moving average is $38.68, and its 200-day moving average is $45.61. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.88. The stock has a market cap of $2.25 billion, a PE ratio of -17.64 and a beta of 0.98.

Rapid7 (NASDAQ:RPD – Get Free Report ) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. Rapid7 had a negative return on equity of 58.27% and a negative net margin of 5.64%. The company had revenue of $207.99 million for the quarter, compared to the consensus estimate of $204.04 million. In the same quarter last year, the business earned ($0.33) EPS. Rapid7’s revenue was up 9.2% compared to the same quarter last year. sell-side analysts anticipate that Rapid7 will post 0.75 EPS for the current year.

Institutional trading of Rapid7

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC bought a new stake in shares of Rapid7 in the second quarter valued at about $35,000. Fidelis Capital Partners LLC bought a new stake in Rapid7 in the 1st quarter worth about $36,000. Mather Group LLC. acquired a new stake in shares of Rapid7 in the first quarter worth about $42,000. Summit Securities Group LLC bought a new position in shares of Rapid7 during the 2nd quarter valued at about $43,000. Finally, International Assets Investment Management LLC increased its holdings in shares of Rapid7 by 3,367.9% in the fourth quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock valued at $55,000 after purchasing an additional 943 shares during the last quarter. Institutional investors own 95.66% of the company’s shares.

Rapid7 company profile

(Get a free report)

Rapid7, Inc provides cybersecurity solutions under the Rapid7, Nexpose and Metasploit brands. The company offers endpoint-to-cloud data collection and sharing applications such as the Rapid7 Insight Agent, a software-based agent that is used on assets in on-premises and cloud environments to centralize and monitor data on the company’s platform; Rapid7 Insight network sensor that analyzes raw end-to-end network traffic to increase visibility into user activity, identify real threats and investigations; Rapid7 Cloud Event Data Harvesting that provides visibility into changes to cloud resources; and third-party and ecosystem integrations, as well as orchestration and automation solutions.

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