Rapid7 Inc. (NASDAQ:RPD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research 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. “

A number of other analysts have also issued reports on RPD. Cowen and Company reissued a “buy” rating on shares of Rapid7 in a research note on Sunday, June 26th. Macquarie began coverage on Rapid7 in a research note on Friday, July 8th. They issued a “neutral” rating and a $16.00 price target on the stock. Rosenblatt Securities initiated coverage on Rapid7 in a research note on Friday, August 26th. They issued a “buy” rating and a $23.00 price target on the stock. Raymond James Financial Inc. reaffirmed a “buy” rating on shares of Rapid7 in a research note on Thursday, June 2nd. Finally, Barclays PLC set a $17.00 price objective on Rapid7 and gave the company a “buy” rating in a research note on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. Rapid7 currently has an average rating of “Buy” and a consensus target price of $20.67.

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Shares of Rapid7 (NASDAQ:RPD) traded up 0.24% during trading on Tuesday, reaching $16.59. 148,640 shares of the company’s stock traded hands. The stock’s market capitalization is $674.10 million. The company has a 50 day moving average price of $16.81 and a 200 day moving average price of $13.89. Rapid7 has a 1-year low of $9.05 and a 1-year high of $25.19.

Rapid7 (NASDAQ:RPD) last issued 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 return on equity of 100.88% and a negative net margin of 46.51%. The firm had revenue of $37.30 million for the quarter, compared to analyst estimates of $36.29 million. During the same period last year, the company earned ($0.61) EPS. The firm’s quarterly revenue was up 44.6% on a year-over-year basis. On average, equities analysts forecast that Rapid7 will post ($0.90) EPS for the current fiscal year.

In related news, CFO Steven Gatoff sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $17.36, for a total transaction of $260,400.00. Following the transaction, the chief financial officer now directly owns 85,186 shares of the company’s stock, valued at approximately $1,478,828.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Corey E. Thomas sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $18.42, for a total value of $184,200.00. Following the transaction, the insider now directly owns 219,757 shares in the company, valued at $4,047,923.94. The disclosure for this sale can be found here. Corporate insiders own 55.30% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Polaris Venture Management Co. VI L.L.C. bought a new position in Rapid7 during the first quarter valued at approximately $5,906,000. Granahan Investment Management Inc. MA raised its position in 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 period. BlackRock Fund Advisors raised its position in 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 period. Polar Capital LLP bought a new position in Rapid7 during the second quarter valued at approximately $3,203,000. Finally, Vanguard Group Inc. raised its position 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 during the period. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

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.

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