The Rapid7 Inc. (RPD) Coverage Initiated at Royal Bank Of Canada

The Rapid7 Inc. (RPD) Coverage Initiated at Royal Bank Of Canada

Research analysts at Royal Bank Of Canada assumed coverage on shares of Rapid7 Inc. (NASDAQ:RPD) in a report released on Friday. The brokerage set an “outperform” rating and a $19.00 price target on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 23.22% from the stock’s current price.

A number of other brokerages also recently weighed in on RPD. Zacks Investment Research downgraded shares of Rapid7 from a “hold” rating to a “sell” rating in a research note on Tuesday, August 30th. Rosenblatt Securities assumed coverage on shares of Rapid7 in a research note on Friday, August 26th. They issued a “buy” rating and a $23.00 target price on the stock. RBC Capital Markets assumed coverage on shares of Rapid7 in a research note on Friday. They issued an “outperform” rating on the stock. Barclays PLC set a $17.00 target price on shares of Rapid7 and gave the company a “buy” rating in a research note on Tuesday, August 9th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Rapid7 in a research note on Sunday, June 26th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Rapid7 presently has an average rating of “Buy” and a consensus target price of $19.50.

Shares of Rapid7 (NASDAQ:RPD) opened at 15.42 on Friday. Rapid7 has a 1-year low of $9.05 and a 1-year high of $22.14. The company’s market capitalization is $626.56 million. The stock has a 50 day moving average of $17.32 and a 200-day moving average of $14.30.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. Rapid7 had a negative net margin of 46.51% and a negative return on equity of 100.88%. The firm had revenue of $37.30 million for the quarter, compared to the consensus estimate of $36.29 million. During the same period in the prior year, the firm posted ($0.61) earnings per share. The company’s revenue for the quarter was up 44.6% on a year-over-year basis. Analysts forecast that Rapid7 will post ($0.90) earnings per share for the current year.

In other news, insider Corey E. Thomas sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $18.42, for a total value of $184,200.00. Following the transaction, the insider now owns 219,757 shares in the company, valued at $4,047,923.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lee David Weiner sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $16.72, for a total transaction of $250,800.00. Following the completion of the transaction, the insider now owns 44,843 shares in the company, valued at approximately $749,774.96. The disclosure for this sale can be found here. Company insiders own 55.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Rapid7 by 4.1% in the second quarter. JPMorgan Chase & Co. now owns 175,384 shares of the company’s stock valued at $2,206,000 after buying an additional 6,897 shares in the last quarter. Blair William & Co. IL boosted its position in shares of Rapid7 by 25.9% in the second quarter. Blair William & Co. IL now owns 246,260 shares of the company’s stock valued at $3,098,000 after buying an additional 50,730 shares in the last quarter. Oxford Asset Management purchased a new position in shares of Rapid7 during the second quarter valued at about $308,000. Commonwealth Equity Services Inc purchased a new position in shares of Rapid7 during the second quarter valued at about $135,000. Finally, California State Teachers Retirement System boosted its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Rapid7 Company Profile

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