Rapid7 (RPD) Received its Third Buy in a Row


After Needham and RBC Capital gave Rapid7 (NASDAQ: RPD) a Buy rating last month, the company received another Buy, this time from Robert W. Baird. Analyst Jonathan Ruykhaver maintained a Buy rating on Rapid7 today and set a price target of $72. The company’s shares closed last Monday at $54.74.

Ruykhaver said:

“We are hosting a meeting at 8 a.m. EDT. We believe this will be a great opportunity for clients both to see Rapid7’s new headquarters and have a conversation with executive management. Rapid7 remains one of our top fundamental ideas, and we look forward to creating an opportunity for clients to help gain further insight into management’s vision for the company.”

According to TipRanks.com, Ruykhaver is a 5-star analyst with an average return of 18.7% and a 66.0% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Forescout Technologies Inc, Carbon Black Inc, and Varonis Systems.

Rapid7 has an analyst consensus of Strong Buy, with a price target consensus of $71.56.

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Based on Rapid7’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $13.42 million. In comparison, last year the company had a GAAP net loss of $14.33 million.

Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RPD in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Rapid7, Inc. engages in the provision of cyber security analytics and automation services. Its product includes insight platform, which offers InsightVM, InsightIDR, InsightAppSec, and InsightConnect. The company was founded by Alan P. Matthews, Tas Giakouminakis and Chad Loder in July 2000 and is headquartered in Boston, MA.

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