Rapid7 (NASDAQ:RPD) had its target price lowered by Raymond James from $76.00 to $69.00 in a research report report published on Wednesday, Stock Target Advisor reports. The firm currently has a strong-buy rating on the technology company’s stock.

A number of other equities analysts have also issued reports on RPD. Barclays reiterated a buy rating and issued a $69.00 target price on shares of Rapid7 in a research report on Thursday, July 18th. SunTrust Banks started coverage on shares of Rapid7 in a research report on Wednesday, October 2nd. They set a buy rating and a $66.00 price objective for the company. BidaskClub upgraded shares of Rapid7 from a sell rating to a hold rating in a research report on Tuesday, October 29th. Monness Crespi & Hardt restated a buy rating and set a $72.00 price objective (up previously from $62.00) on shares of Rapid7 in a research report on Monday, July 29th. Finally, Morgan Stanley raised their price objective on shares of Rapid7 from $51.00 to $61.00 and gave the company an equal weight rating in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $63.33.

Shares of RPD opened at $51.55 on Wednesday. The firm has a 50-day moving average price of $48.66 and a 200 day moving average price of $53.65. The firm has a market capitalization of $2.39 billion, a PE ratio of -51.04 and a beta of 1.21. The company has a quick ratio of 1.37, a current ratio of 1.38 and a debt-to-equity ratio of 2.97. Rapid7 has a 52-week low of $26.27 and a 52-week high of $66.01.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Tuesday, November 5th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.20. The firm had revenue of $83.20 million during the quarter, compared to analyst estimates of $80.11 million. Rapid7 had a negative net margin of 17.27% and a negative return on equity of 40.74%. Rapid7’s revenue was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.04) EPS. On average, equities analysts expect that Rapid7 will post -0.62 EPS for the current year.

In other Rapid7 news, SVP Peter Kaes sold 12,881 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $50.03, for a total value of $644,436.43. Also, insider Christina Luconi sold 3,087 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $53.75, for a total transaction of $165,926.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 123,462 shares of company stock valued at $6,505,874. Corporate insiders own 4.90% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Signaturefd LLC purchased a new stake in shares of Rapid7 in the second quarter worth approximately $46,000. FNY Investment Advisers LLC purchased a new stake in shares of Rapid7 in the second quarter worth approximately $57,000. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Rapid7 by 26.4% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,038 shares of the technology company’s stock worth $61,000 after purchasing an additional 217 shares in the last quarter. Point72 Hong Kong Ltd lifted its position in shares of Rapid7 by 412.6% in the second quarter. Point72 Hong Kong Ltd now owns 2,148 shares of the technology company’s stock worth $124,000 after purchasing an additional 1,729 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Rapid7 by 1,438.9% in the third quarter. Tower Research Capital LLC TRC now owns 2,970 shares of the technology company’s stock worth $135,000 after purchasing an additional 2,777 shares in the last quarter. Institutional investors own 90.82% 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.

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Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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