RBC Capital Markets started coverage on shares of Rapid7 Inc. (NASDAQ:RPD) in a research report sent to investors on Friday morning. The brokerage issued an outperform rating and a $19.00 price objective on the stock.
A number of other research analysts also recently weighed in on RPD. Zacks Investment Research upgraded Rapid7 from a sell rating to a hold rating in a report on Thursday, June 16th. Cowen and Company reiterated a buy rating on shares of Rapid7 in a report on Sunday, June 26th. Macquarie initiated coverage on Rapid7 in a report on Friday, July 8th. They set a neutral rating and a $16.00 price target on the stock. Barclays PLC set a $17.00 price target on Rapid7 and gave the company a buy rating in a report on Tuesday, August 9th. Finally, Rosenblatt Securities began coverage on Rapid7 in a report on Friday, August 26th. They set a buy rating and a $23.00 price target on the stock. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Rapid7 currently has an average rating of Buy and an average price target of $19.43.
Shares of Rapid7 (NASDAQ:RPD) traded down 6.33% on Friday, reaching $15.09. 68,679 shares of the company’s stock traded hands. Rapid7 has a 12-month low of $9.05 and a 12-month high of $22.14. The company’s market cap is $613.15 million. The stock has a 50-day moving average price of $17.25 and a 200-day moving average price of $14.32.
Rapid7 (NASDAQ:RPD) last issued its quarterly 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 return on equity of 100.88% and a negative net margin of 46.51%. The business had revenue of $37.30 million for the quarter, compared to the consensus estimate of $36.29 million. During the same quarter in the previous year, the company posted ($0.61) earnings per share. Rapid7’s revenue for the quarter was up 44.6% compared to the same quarter last year. Equities research analysts anticipate that Rapid7 will post ($0.90) EPS for the current fiscal year.
In related news, insider Corey E. Thomas sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $18.05, for a total transaction of $451,250.00. Following the completion of the transaction, the insider now owns 194,757 shares of the company’s stock, valued at approximately $3,515,363.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven Gatoff sold 15,000 shares of the business’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $17.36, for a total value of $260,400.00. Following the transaction, the chief financial officer now directly owns 85,186 shares of the company’s stock, valued at approximately $1,478,828.96. The disclosure for this sale can be found here. Insiders own 55.30% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Cutler Group LP acquired a new position in Rapid7 during the third quarter valued at $104,000. Commonwealth Equity Services Inc acquired a new position in Rapid7 during the second quarter valued at $135,000. American International Group Inc. boosted its position in Rapid7 by 143.8% in the second quarter. American International Group Inc. now owns 11,455 shares of the company’s stock valued at $144,000 after buying an additional 6,756 shares in the last quarter. Nationwide Fund Advisors boosted its position in Rapid7 by 160.1% in the second quarter. Nationwide Fund Advisors now owns 12,737 shares of the company’s stock valued at $160,000 after buying an additional 7,840 shares in the last quarter. Finally, Barclays PLC boosted its position in Rapid7 by 1,990.4% in the second quarter. Barclays PLC now owns 13,316 shares of the company’s stock valued at $167,000 after buying an additional 12,679 shares in the last quarter. 67.39% of the stock is owned by institutional investors and hedge funds.
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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