Rapid7 Inc. (RPD) Coverage Initiated at Royal Bank Of Canada
Research analysts at Royal Bank Of Canada assumed coverage on shares of Rapid7 Inc. (NASDAQ:RPD) in a report released on Friday. The brokerage set an “outperform” rating and a $19.00 price target on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 23.22% from the stock’s current price.
A number of other brokerages also recently weighed in on RPD. Zacks Investment Research downgraded shares of Rapid7 from a “hold” rating to a “sell” rating in a research note on Tuesday, August 30th. Rosenblatt Securities assumed coverage on shares of Rapid7 in a research note on Friday, August 26th. They issued a “buy” rating and a $23.00 target price on the stock. RBC Capital Markets assumed coverage on shares of Rapid7 in a research note on Friday. They issued an “outperform” rating on the stock. Barclays PLC set a $17.00 target price on shares of Rapid7 and gave the company a “buy” rating in a research note on Tuesday, August 9th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Rapid7 in a research note on Sunday, June 26th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Rapid7 presently has an average rating of “Buy” and a consensus target price of $19.50.
Shares of Rapid7 (NASDAQ:RPD) opened at 15.42 on Friday. Rapid7 has a 1-year low of $9.05 and a 1-year high of $22.14. The company’s market capitalization is $626.56 million. The stock has a 50 day moving average of $17.32 and a 200-day moving average of $14.30.
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Rapid7 (NASDAQ:RPD) last announced 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 net margin of 46.51% and a negative return on equity of 100.88%. The firm had revenue of $37.30 million for the quarter, compared to the consensus estimate of $36.29 million. During the same period in the prior year, the firm posted ($0.61) earnings per share. The company’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 year.
In other news, insider Corey E. Thomas sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $18.42, for a total value of $184,200.00. Following 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lee David Weiner sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $16.72, for a total transaction of $250,800.00. Following the completion of the transaction, the insider now owns 44,843 shares in the company, valued at approximately $749,774.96. The disclosure for this sale can be found here. Company insiders own 55.30% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Rapid7 by 4.1% in the second quarter. JPMorgan Chase & Co. now owns 175,384 shares of the company’s stock valued at $2,206,000 after buying an additional 6,897 shares in the last quarter. Blair William & Co. IL boosted its position in shares of Rapid7 by 25.9% in the second quarter. Blair William & Co. IL now owns 246,260 shares of the company’s stock valued at $3,098,000 after buying an additional 50,730 shares in the last quarter. Oxford Asset Management purchased a new position in shares of Rapid7 during the second quarter valued at about $308,000. Commonwealth Equity Services Inc purchased a new position in shares of Rapid7 during the second quarter valued at about $135,000. Finally, California State Teachers Retirement System boosted its position in shares of Rapid7 by 142.0% in the second quarter. California State Teachers Retirement System now owns 41,726 shares of the company’s stock valued at $525,000 after buying an additional 24,482 shares in the last quarter. Hedge funds and other 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.
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