The RBC Capital Markets Initiates Coverage on Rapid7 Inc. (RPD)

The RBC Capital Markets Initiates Coverage on Rapid7 Inc. (RPD)

RBC Capital Markets began coverage on shares of Rapid7 Inc. (NASDAQ:RPD) in a report issued on Friday, The Fly reports. The brokerage set an “outperform” rating on the stock.

Other research analysts also recently issued reports about the stock. Cowen and Company reissued a “buy” rating on shares of Rapid7 in a research report on Sunday, June 26th. Zacks Investment Research raised shares of Rapid7 from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. Macquarie began coverage on shares of Rapid7 in a research report on Friday, July 8th. They set a “neutral” rating and a $16.00 price objective on the stock. Finally, Barclays PLC set a $17.00 price objective on shares of Rapid7 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $19.50.

Shares of Rapid7 (NASDAQ:RPD) opened at 15.42 on Friday. Rapid7 has a 52 week low of $9.05 and a 52 week high of $22.14. The stock’s market cap is $626.56 million. The company’s 50-day moving average is $17.32 and its 200 day moving average is $14.30.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $37.30 million for the quarter, compared to the consensus estimate of $36.29 million. During the same period last year, the firm posted ($0.61) EPS. Rapid7’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 fiscal year.

In other Rapid7 news, insider Corey E. Thomas sold 10,000 shares of Rapid7 stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $18.42, for a total transaction of $184,200.00. Following the completion of 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 SEC, which is accessible through this hyperlink. Also, insider Lee David Weiner sold 15,000 shares of Rapid7 stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $18.29, for a total transaction of $274,350.00. Following the transaction, the insider now owns 44,843 shares of the company’s stock, valued at approximately $820,178.47. The disclosure for this sale can be found here. 55.30% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Rapid7 by 28.2% in the second quarter. Vanguard Group Inc. now owns 1,036,961 shares of the company’s stock valued at $13,046,000 after buying an additional 227,869 shares in the last quarter. Westfield Capital Management Co. LP increased its position in shares of Rapid7 by 6.5% in the second quarter. Westfield Capital Management Co. LP now owns 808,573 shares of the company’s stock valued at $10,172,000 after buying an additional 49,030 shares during the last quarter. Granahan Investment Management Inc. MA increased its position in shares of Rapid7 by 153.0% in the first quarter. Granahan Investment Management Inc. MA now owns 489,600 shares of the company’s stock valued at $6,399,000 after buying an additional 296,100 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Rapid7 by 149.7% in the second quarter. BlackRock Fund Advisors now owns 470,872 shares of the company’s stock valued at $5,924,000 after buying an additional 282,298 shares during the last quarter. Finally, Polaris Venture Management Co. VI L.L.C. purchased a new position in shares of Rapid7 during the first quarter valued at about $5,906,000. Institutional investors own 67.37% of the company’s stock.

Rapid7 Company Profile

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.

Related posts

Leave a Comment