Rapid7, Inc. (RPD) Upgraded to “Hold” at BidaskClub
Rapid7, Inc. (NASDAQ:RPD) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
A number of other research firms have also recently issued reports on RPD. Susquehanna Bancshares Inc began coverage on shares of Rapid7 in a research note on Wednesday, June 7th. They set a “neutral” rating and a $20.00 target price for the company. Royal Bank Of Canada raised their target price on shares of Rapid7 from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 10th. Monness Crespi & Hardt began coverage on shares of Rapid7 in a research note on Tuesday, May 30th. They set a “buy” rating and a $23.00 target price for the company. Zacks Investment Research cut shares of Rapid7 from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Northland Securities restated a “buy” rating and set a $23.00 target price on shares of Rapid7 in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $19.94.
Rapid7 (RPD) traded up 1.48% on Wednesday, hitting $16.45. 87,196 shares of the stock traded hands. Rapid7 has a 52 week low of $10.63 and a 52 week high of $19.29. The firm’s 50 day moving average is $16.35 and its 200 day moving average is $16.14. The stock’s market cap is $709.18 million.
Rapid7 (NASDAQ:RPD) last posted its earnings results on Monday, August 7th. The technology company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. The company had revenue of $47.44 million during the quarter, compared to analysts’ expectations of $46.31 million. Rapid7 had a negative net margin of 23.67% and a negative return on equity of 98.26%. Rapid7’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.22) EPS. Equities analysts anticipate that Rapid7 will post ($0.62) earnings per share for the current year.
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In other Rapid7 news, insider Jay C. Hoag sold 1,400,000 shares of Rapid7 stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $18.00, for a total value of $25,200,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrew F. Burton sold 37,843 shares of Rapid7 stock in a transaction dated 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 owns 238,158 shares of the company’s stock, valued at approximately $4,036,778.10. The disclosure for this sale can be found here. 56.90% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Rapid7 by 7.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 704,087 shares of the technology company’s stock valued at $10,547,000 after buying an additional 49,970 shares during the period. Herald Investment Management Ltd acquired a new stake in shares of Rapid7 during the first quarter valued at $1,161,000. Alliancebernstein L.P. boosted its stake in shares of Rapid7 by 1.4% in the first quarter. Alliancebernstein L.P. now owns 21,800 shares of the technology company’s stock valued at $327,000 after buying an additional 300 shares during the period. American International Group Inc. boosted 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 valued at $184,000 after buying an additional 815 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Rapid7 by 144.8% in the first quarter. JPMorgan Chase & Co. now owns 39,171 shares of the technology company’s stock valued at $586,000 after buying an additional 23,173 shares during the period. Institutional investors and hedge funds own 68.52% of the company’s stock.
Rapid7 Company Profile
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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