Cowen assumed coverage on shares of Rapid7 (NASDAQ:RPD) in a research report report published on Thursday morning, BenzingaRatingsTable reports. The firm issued an outperform rating and a $63.00 price objective on the technology company’s stock.

Several other analysts also recently weighed in on RPD. Zacks Investment Research downgraded Rapid7 from a buy rating to a hold rating in a report on Saturday, May 11th. Northland Securities restated a buy rating and issued a $64.00 price objective on shares of Rapid7 in a report on Friday, May 3rd. BTIG Research lifted their price objective on Rapid7 to $62.00 and gave the company a positive rating in a report on Friday, May 3rd. Stifel Nicolaus lifted their price objective on Rapid7 from $52.00 to $58.00 and gave the company a buy rating in a report on Wednesday, April 3rd. Finally, Robert W. Baird began coverage on Rapid7 in a report on Wednesday, April 3rd. They issued an outperform rating and a $58.00 price objective for the company. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Rapid7 currently has a consensus rating of Buy and an average price target of $55.19.

NASDAQ:RPD opened at $52.09 on Thursday. Rapid7 has a twelve month low of $26.27 and a twelve month high of $57.00. The firm has a market cap of $2.53 billion, a PE ratio of -51.57 and a beta of 1.20. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 2.18.

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

In other Rapid7 news, COO Andrew F. Burton sold 15,360 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $44.89, for a total value of $689,510.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Corey E. Thomas sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $52.58, for a total transaction of $262,900.00. The disclosure for this sale can be found here. Insiders sold 141,887 shares of company stock valued at $7,104,136 over the last quarter. 4.90% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Harvest Group Wealth Management LLC purchased a new stake in shares of Rapid7 during the first quarter worth about $25,000. Private Capital Group LLC grew its stake in shares of Rapid7 by 80.4% during the first quarter. Private Capital Group LLC now owns 745 shares of the technology company’s stock worth $38,000 after acquiring an additional 332 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. purchased a new stake in shares of Rapid7 during the first quarter worth about $42,000. Acadian Asset Management LLC purchased a new stake in shares of Rapid7 during the first quarter worth about $51,000. Finally, Quantamental Technologies LLC purchased a new stake in shares of Rapid7 during the first quarter worth about $76,000. Institutional investors and hedge funds own 83.91% of the company’s stock.

About Rapid7

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.

Featured Story: What defines an oversold asset?

Analyst Recommendations for Rapid7 (NASDAQ:RPD)

Receive News & Ratings for Rapid7 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rapid7 and related companies with MarketBeat.com's FREE daily email newsletter.