Rapid7 Inc. (NASDAQ:RPD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
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 shares of Rapid7 in a research note on Friday, August 26th. They set a “buy” rating and a $23.00 target price for the company. RBC Capital Markets assumed coverage on shares of Rapid7 in a research note on Friday, October 14th. They issued an “outperform” rating and a $19.00 price objective for the company. Royal Bank Of Canada assumed coverage on shares of Rapid7 in a research note on Friday, October 14th. They issued an “outperform” rating and a $19.00 price objective for the company. Finally, Barclays PLC set a $17.00 price objective on shares of Rapid7 and gave the company a “buy” rating in a research note on Tuesday, August 9th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Rapid7 presently has an average rating of “Buy” and an average target price of $19.43.
Shares of Rapid7 (NASDAQ:RPD) opened at 11.98 on Tuesday. Rapid7 has a 52 week low of $9.05 and a 52 week high of $19.29. The stock has a 50 day moving average of $13.77 and a 200-day moving average of $14.55. The firm’s market capitalization is $492.69 million.
Rapid7 (NASDAQ:RPD) last released its earnings results on Wednesday, November 9th. The company reported ($0.13) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.07. The firm earned $40.30 million during the quarter, compared to analysts’ expectations of $39.42 million. Rapid7 had a negative net margin of 41.53% and a negative return on equity of 101.12%. The business’s quarterly revenue was up 42.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.27) EPS. Analysts expect that Rapid7 will post ($0.85) earnings per share for the current year.
In other Rapid7 news, insider Lee David Weiner sold 15,000 shares of the stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $18.29, for a total transaction of $274,350.00. Following the sale, the insider now owns 44,843 shares of the company’s stock, valued at approximately $820,178.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Corey E. Thomas sold 25,000 shares of the stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $18.05, for a total transaction of $451,250.00. Following the sale, the insider now directly owns 194,757 shares in the company, valued at approximately $3,515,363.85. The disclosure for this sale can be found here. Corporate insiders own 55.30% of the company’s stock.
Large investors have recently modified their holdings of the company. Cutler Group LP bought a new stake in shares of Rapid7 during the third quarter worth approximately $104,000. Commonwealth Equity Services Inc acquired a new position in shares of Rapid7 during the second quarter valued at about $135,000. American International Group Inc. raised its position in shares of Rapid7 by 143.8% in the second quarter. American International Group Inc. now owns 11,455 shares of the company’s stock valued at $144,000 after buying an additional 6,756 shares during the period. BlackRock Advisors LLC raised its position in shares of Rapid7 by 52.4% in the third quarter. BlackRock Advisors LLC now owns 8,776 shares of the company’s stock valued at $155,000 after buying an additional 3,018 shares during the period. Finally, Nationwide Fund Advisors raised its position in shares of 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 during the period. 69.24% of the stock is currently 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.