Rapid7 Inc. (RPD) Upgraded by Zacks Investment Research to Hold
Rapid7 Inc. (NASDAQ:RPD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released 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. “
Other equities analysts have also recently issued research reports about the stock. Rosenblatt Securities initiated coverage on shares of Rapid7 in a research report on Friday, August 26th. They set a “buy” rating and a $23.00 target price for the company. Barclays PLC set a $17.00 target price on shares of Rapid7 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Cowen and Company restated a “buy” rating on shares of Rapid7 in a research report on Sunday, June 26th. Finally, Macquarie initiated coverage on shares of Rapid7 in a research report on Friday, July 8th. They set a “neutral” rating and a $16.00 target price for the company. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.67.
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Rapid7 (NASDAQ:RPD) opened at 16.02 on Wednesday. Rapid7 has a one year low of $9.05 and a one year high of $22.84. The firm’s market capitalization is $650.94 million. The stock has a 50 day moving average of $17.48 and a 200 day moving average of $14.28.
Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Monday, August 8th. The company reported ($0.22) EPS for the quarter, beating 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 firm earned $37.30 million during the quarter, compared to analysts’ expectations of $36.29 million. During the same quarter last year, the business earned ($0.61) earnings per share. The business’s revenue for the quarter was up 44.6% compared to the same quarter last year. Analysts forecast that Rapid7 will post ($0.90) earnings per share for the current year.
In other news, insider Corey E. Thomas sold 25,000 shares of Rapid7 stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $18.05, for a total transaction of $451,250.00. Following the completion of the sale, the insider now directly owns 194,757 shares in the company, valued at $3,515,363.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Corey E. Thomas sold 10,000 shares of Rapid7 stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $18.42, for a total transaction of $184,200.00. Following the sale, the insider now owns 219,757 shares of the company’s stock, valued at $4,047,923.94. The disclosure for this sale can be found here. Insiders own 55.30% of the company’s stock.
Several large investors have recently modified their holdings of RPD. Cutler Group LP bought a new stake in Rapid7 during the third quarter worth about $104,000. Commonwealth Equity Services Inc bought a new stake in Rapid7 during the second quarter worth about $135,000. American International Group Inc. increased its stake 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 increased its stake in Rapid7 by 160.1% in the second quarter. Nationwide Fund Advisors now owns 12,737 shares of the company’s stock worth $160,000 after buying an additional 7,840 shares during the last quarter. Finally, Barclays PLC increased its stake in Rapid7 by 1,990.4% in the second quarter. Barclays PLC now owns 13,316 shares of the company’s stock worth $167,000 after buying an additional 12,679 shares during the last quarter. Institutional investors and hedge funds 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.
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