Zacks Investment Research upgraded shares of Rapid7 Inc. (NASDAQ:RPD) from a sell rating to a hold rating in a research report released on Tuesday morning.
According to Zacks, “Rapid7, Inc. offers security data and analytics solutions. The Company provides solutions which consist of threat exposure management, incident detection and response solutions as well as security advisory services. Rapid7, Inc. is based in Boston, United States. “
A number of other analysts have also commented on the company. Barclays PLC set a $17.00 target price on Rapid7 and gave the company a buy rating in a research report on Tuesday, August 9th. Rosenblatt Securities started coverage on Rapid7 in a research report on Friday, August 26th. They issued a buy rating and a $23.00 target price for the company. Royal Bank Of Canada initiated coverage on Rapid7 in a research report on Friday, October 14th. They issued an outperform rating and a $19.00 target price for the company. Finally, RBC Capital Markets initiated coverage on Rapid7 in a report on Friday, October 14th. They set an outperform rating and a $19.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $19.43.
Shares of Rapid7 (NASDAQ:RPD) opened at 11.92 on Tuesday. Rapid7 has a 52-week low of $9.05 and a 52-week high of $19.34. The stock has a 50 day moving average price of $14.15 and a 200-day moving average price of $14.51. The firm’s market capitalization is $490.22 million.
Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, November 9th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.07. Rapid7 had a negative return on equity of 101.12% and a negative net margin of 41.53%. The business earned $40.30 million during the quarter, compared to analyst estimates of $39.42 million. During the same period in the previous year, the company posted ($0.27) EPS. The firm’s revenue was up 42.4% compared to the same quarter last year. Equities analysts forecast that Rapid7 will post ($0.85) EPS for the current year.
In related news, insider Lee David Weiner sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $12.00, for a total value of $180,000.00. Following the transaction, the insider now owns 44,235 shares in the company, valued at $530,820. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Corey E. Thomas sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $18.05, for a total value of $451,250.00. Following the completion of the transaction, the insider now owns 194,757 shares in the company, valued at approximately $3,515,363.85. The disclosure for this sale can be found here. 55.30% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of RPD. JPMorgan Chase & Co. increased its position in Rapid7 by 11.5% in the first quarter. JPMorgan Chase & Co. now owns 168,487 shares of the company’s stock valued at $2,202,000 after buying an additional 17,387 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Rapid7 during the first quarter valued at approximately $657,000. Bank of New York Mellon Corp increased its position in Rapid7 by 75.7% in the second quarter. Bank of New York Mellon Corp now owns 58,783 shares of the company’s stock valued at $739,000 after buying an additional 25,331 shares during the last quarter. California State Teachers Retirement System increased its position in Rapid7 by 142.0% in the second quarter. California State Teachers Retirement System now owns 41,726 shares of the company’s stock valued at $525,000 after buying an additional 24,482 shares during the last quarter. Finally, Commonwealth Equity Services Inc purchased a new position in Rapid7 during the second quarter valued at approximately $135,000. Institutional investors and hedge funds own 68.99% of the company’s stock.
Rapid7, Inc is a provider of security data and analytics solutions that enable organizations to implement an active approach to cyber security. The Company’s Rapid7 Insight Platform is a security data and analytics platform that provides solutions to cyber security that enables organizations to find and eliminate critical weaknesses and detect attacks in their information technology (IT) environments.