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.