Monness Crespi & Hardt restated their buy rating on shares of Rapid7 (NASDAQ:RPD) in a research report sent to investors on Tuesday, MarketBeat reports. The firm currently has a $27.00 price target on the technology company’s stock, up from their previous price target of $23.00.

A number of other analysts have also weighed in on RPD. BidaskClub upgraded Rapid7 from a hold rating to a buy rating in a report on Saturday. Needham & Company LLC reaffirmed a buy rating and set a $30.00 price target (up from $23.00) on shares of Rapid7 in a research report on Monday. ValuEngine raised Rapid7 from a sell rating to a hold rating in a research report on Friday, February 2nd. Royal Bank of Canada upped their price target on Rapid7 from $22.00 to $25.00 and gave the stock an outperform rating in a research report on Wednesday, November 8th. Finally, Northland Securities set a $28.00 price target on Rapid7 and gave the stock a buy rating in a research report on Wednesday, January 24th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Rapid7 currently has an average rating of Buy and a consensus price target of $24.29.

Shares of Rapid7 (NASDAQ RPD) opened at $23.36 on Tuesday. The firm has a market capitalization of $1,060.00 and a price-to-earnings ratio of -21.83. Rapid7 has a twelve month low of $13.42 and a twelve month high of $25.95.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Monday, February 12th. The technology company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.11). The company had revenue of $57.73 million for the quarter, compared to analysts’ expectations of $57.39 million. Rapid7 had a negative return on equity of 115.79% and a negative net margin of 22.44%. The firm’s quarterly revenue was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.13) EPS. analysts forecast that Rapid7 will post -1.04 earnings per share for the current fiscal year.

In related news, Director Jay C. Hoag sold 35,246 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $19.40, for a total value of $683,772.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Lee David Weiner sold 20,000 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $18.41, for a total value of $368,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,345,246 shares of company stock worth $49,165,672. Insiders own 56.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Crow Point Partners LLC acquired a new position in shares of Rapid7 in the 4th quarter valued at $119,000. Fortaleza Asset Management Inc. acquired a new position in shares of Rapid7 in the 4th quarter valued at $160,000. Citigroup Inc. increased its position in shares of Rapid7 by 1,398.9% in the 2nd quarter. Citigroup Inc. now owns 9,788 shares of the technology company’s stock valued at $165,000 after acquiring an additional 9,135 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Rapid7 in the 3rd quarter valued at $187,000. Finally, Hamilton Lane Advisors LLC acquired a new position in shares of Rapid7 in the 4th quarter valued at $207,000. 68.49% of the stock is currently owned by hedge funds and other institutional investors.

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About Rapid7

Rapid7, Inc is a provider analytics for security and information technology (IT) operations that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The Company’s analytics enable organizations to contextualize and prioritize the threats facing their physical, virtual and cloud assets, including those posed by the behaviors of their users.

Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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