Rapid7 Inc. (RPD) Now Covered by Analysts at Royal Bank Of Canada
Equities research analysts at Royal Bank Of Canada began coverage on shares of Rapid7 Inc. (NASDAQ:RPD) in a research note issued on Friday. The firm set an “outperform” rating and a $19.00 price target on the stock. Royal Bank Of Canada’s price target points to a potential upside of 23.22% from the stock’s previous close.
A number of other research firms have also weighed in on RPD. Zacks Investment Research lowered shares of Rapid7 from a “hold” rating to a “sell” rating in a report on Tuesday, August 30th. Rosenblatt Securities initiated coverage on shares of Rapid7 in a research note on Friday, August 26th. They set a “buy” rating and a $23.00 price objective for the company. RBC Capital Markets initiated coverage on shares of Rapid7 in a research note on Friday. They set an “outperform” rating for the company. Barclays PLC set a $17.00 price objective on shares of Rapid7 and gave the stock 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 research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $19.50.
Shares of Rapid7 (NASDAQ:RPD) opened at 15.42 on Friday. The stock has a 50 day moving average of $17.32 and a 200-day moving average of $14.30. The stock’s market capitalization is $626.56 million. Rapid7 has a 52-week low of $9.05 and a 52-week high of $22.14.
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Rapid7 (NASDAQ:RPD) last posted its earnings results on Monday, August 8th. The company reported ($0.22) earnings per share for the quarter, beating 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 earned $37.30 million during the quarter, compared to analyst estimates of $36.29 million. During the same period last year, the firm posted ($0.61) earnings per share. Rapid7’s revenue for the quarter was up 44.6% compared to the same quarter last year. Analysts predict that Rapid7 will post ($0.90) EPS for the current fiscal year.
In related news, insider Lee David Weiner sold 15,000 shares of Rapid7 stock in a transaction dated 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 sale, the insider now directly owns 44,843 shares in the company, valued at $749,774.96. 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 Rapid7 stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $18.42, for a total value of $184,200.00. Following the completion of 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.
Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in Rapid7 by 11.5% in the first quarter. JPMorgan Chase & Co. now owns 168,487 shares of the company’s stock valued at $2,202,000 after buying an additional 17,387 shares during the last quarter. State Street Corp increased its stake in Rapid7 by 3.0% in the first quarter. State Street Corp now owns 101,644 shares of the company’s stock valued at $1,328,000 after buying an additional 2,962 shares during the last quarter. Harvest Capital Strategies LLC purchased a new stake in Rapid7 during the first quarter valued at $654,000. Granahan Investment Management Inc. MA increased its stake 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 last quarter. Finally, Commonwealth Equity Services Inc purchased a new stake in Rapid7 during the second quarter valued at $135,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.
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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