Rapid7, Inc. (NASDAQ:RPD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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 analysts also recently issued reports about the company. Susquehanna Bancshares Inc began coverage on Rapid7 in a research note on Wednesday, June 7th. They issued a “neutral” rating and a $20.00 price objective for the company. Royal Bank Of Canada increased their price objective on Rapid7 from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 10th. Cowen and Company reissued a “hold” rating and issued a $11.50 price objective on shares of Rapid7 in a research note on Friday, April 14th. Finally, Monness Crespi & Hardt began coverage on Rapid7 in a research note on Tuesday, May 30th. They issued a “buy” rating and a $23.00 price objective for the company. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $19.42.

Shares of Rapid7 (RPD) traded up 0.58% during midday trading on Wednesday, reaching $17.34. The company had a trading volume of 49,049 shares. The stock’s 50 day moving average is $17.79 and its 200-day moving average is $15.27. The stock’s market capitalization is $734.09 million. Rapid7 has a 12-month low of $10.63 and a 12-month high of $19.29.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Tuesday, May 9th. The technology company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.17. The business had revenue of $45.20 million for the quarter, compared to analyst estimates of $44.01 million. Rapid7 had a negative return on equity of 93.19% and a negative net margin of 26.19%. The company’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.23) earnings per share. On average, equities research analysts predict that Rapid7 will post ($0.63) earnings per share for the current fiscal year.

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In related news, COO Andrew F. Burton sold 37,843 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $16.95, for a total transaction of $641,438.85. Following the completion of the sale, the chief operating officer now directly owns 238,158 shares of the company’s stock, valued at $4,036,778.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jay C. Hoag sold 1,400,000 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $18.00, for a total value of $25,200,000.00. The disclosure for this sale can be found here. Corporate insiders own 56.90% of the company’s stock.

Several hedge funds have recently modified their holdings of RPD. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Rapid7 during the fourth quarter worth approximately $154,000. US Bancorp DE increased its stake in shares of Rapid7 by 594.0% in the first quarter. US Bancorp DE now owns 10,965 shares of the technology company’s stock worth $165,000 after buying an additional 9,385 shares during the last quarter. TFS Capital LLC acquired a new stake in shares of Rapid7 during the first quarter worth approximately $169,000. American International Group Inc. increased its stake in shares of Rapid7 by 7.1% in the first quarter. American International Group Inc. now owns 12,257 shares of the technology company’s stock worth $184,000 after buying an additional 815 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Rapid7 during the first quarter worth approximately $218,000. 68.71% of the stock is owned by institutional investors.

About Rapid7

Rapid7, Inc is a provider analytics for security and information technology (IT) operations that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The Company’s analytics enable organizations to contextualize and prioritize the threats facing their physical, virtual and cloud assets, including those posed by the behaviors of their users.

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Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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