Rapid7, Inc. (NASDAQ:RPD) – KeyCorp decreased their Q1 2018 earnings per share (EPS) estimates for shares of Rapid7 in a report released on Tuesday. KeyCorp analyst R. Owens now anticipates that the technology company will post earnings per share of ($0.26) for the quarter, down from their previous forecast of ($0.23). KeyCorp has a “Buy” rating and a $25.00 price objective on the stock. KeyCorp also issued estimates for Rapid7’s Q3 2018 earnings at ($0.24) EPS, Q4 2018 earnings at ($0.26) EPS and FY2018 earnings at ($1.06) EPS.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Tuesday, November 7th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.02. Rapid7 had a negative net margin of 22.44% and a negative return on equity of 115.79%. The company had revenue of $50.50 million during the quarter, compared to analysts’ expectations of $49.87 million. During the same period last year, the company posted ($0.13) earnings per share. The firm’s quarterly revenue was up 25.3% compared to the same quarter last year.

A number of other brokerages have also recently weighed in on RPD. Needham & Company LLC initiated coverage on shares of Rapid7 in a research note on Monday, October 23rd. They set a “buy” rating and a $23.00 price objective for the company. BidaskClub cut shares of Rapid7 from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Zacks Investment Research cut shares of Rapid7 from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. Royal Bank of Canada raised their target price on shares of Rapid7 from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 8th. Finally, Rosenblatt Securities restated a “buy” rating and set a $23.00 target price on shares of Rapid7 in a research report on Thursday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $21.05.

Shares of Rapid7 (NASDAQ RPD) traded down $0.61 on Friday, hitting $19.03. 291,300 shares of the stock were exchanged, compared to its average volume of 217,006. Rapid7 has a fifty-two week low of $11.72 and a fifty-two week high of $20.25.

Institutional investors have recently added to or reduced their stakes in the stock. Granahan Investment Management Inc. MA boosted its holdings in shares of Rapid7 by 6.6% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 255,541 shares of the technology company’s stock valued at $4,498,000 after buying an additional 15,763 shares during the period. Jane Street Group LLC acquired a new position in shares of Rapid7 in the 3rd quarter valued at about $237,000. Alyeska Investment Group L.P. acquired a new position in shares of Rapid7 in the 3rd quarter valued at about $7,896,000. OxFORD Asset Management LLP boosted its holdings in shares of Rapid7 by 20.5% in the 3rd quarter. OxFORD Asset Management LLP now owns 117,952 shares of the technology company’s stock valued at $2,073,000 after buying an additional 20,094 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Rapid7 by 5.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 71,343 shares of the technology company’s stock valued at $1,256,000 after buying an additional 3,673 shares during the period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

In related news, major shareholder Bain Capital Venture Investors sold 898,517 shares of Rapid7 stock in a transaction on Monday, November 13th. The shares were sold at an average price of $18.30, for a total transaction of $16,442,861.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lee David Weiner sold 20,000 shares of Rapid7 stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $17.15, for a total transaction of $343,000.00. Following the sale, the insider now directly owns 76,212 shares in the company, valued at approximately $1,307,035.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,117,353 shares of company stock worth $20,494,788. 56.90% of the stock is owned by company insiders.

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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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