Rapid7 Inc. (NASDAQ:RPD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
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. “
RPD has been the subject of several other reports. Rosenblatt Securities started coverage on Rapid7 in a research note on Friday, August 26th. They issued a “buy” rating and a $23.00 price objective for the company. Barclays PLC set a $17.00 price target on Rapid7 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Macquarie began coverage on Rapid7 in a research report on Friday, July 8th. They set a “neutral” rating and a $16.00 price target for the company. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Rapid7 in a research report on Sunday, June 26th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $19.60.
Shares of Rapid7 (NASDAQ:RPD) opened at 15.42 on Wednesday. The company’s market capitalization is $626.56 million. Rapid7 has a 1-year low of $9.05 and a 1-year high of $22.14. The company has a 50-day moving average price of $17.32 and a 200 day moving average price of $14.30.
Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.02. The firm earned $37.30 million during the quarter, compared to the consensus estimate of $36.29 million. Rapid7 had a negative return on equity of 100.88% and a negative net margin of 46.51%. The company’s quarterly revenue was up 44.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.61) earnings per share. Equities research analysts anticipate that Rapid7 will post ($0.90) EPS for the current year.
In other news, insider Corey E. Thomas sold 25,000 shares of the firm’s stock in a transaction on Wednesday, October 5th. The stock was 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 directly owns 194,757 shares of the company’s stock, valued at $3,515,363.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lee David Weiner sold 15,000 shares of the firm’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $16.72, for a total value of $250,800.00. Following the completion of the transaction, the insider now directly owns 44,843 shares of the company’s stock, valued at $749,774.96. The disclosure for this sale can be found here. 55.30% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Cutler Group LP bought a new position in Rapid7 during the third quarter worth approximately $104,000. Commonwealth Equity Services Inc bought a new position in Rapid7 during the second quarter worth approximately $135,000. American International Group Inc. raised its position in Rapid7 by 143.8% in the second quarter. American International Group Inc. now owns 11,455 shares of the company’s stock worth $144,000 after buying an additional 6,756 shares during the last quarter. Nationwide Fund Advisors raised its stake in Rapid7 by 160.1% in the second quarter. Nationwide Fund Advisors now owns 12,737 shares of the company’s stock valued at $160,000 after buying an additional 7,840 shares in the last quarter. Finally, Barclays PLC raised its stake in Rapid7 by 1,990.4% in the second quarter. Barclays PLC now owns 13,316 shares of the company’s stock valued at $167,000 after buying an additional 12,679 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.
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.