Several other research firms have also recently issued reports on RPD. Zacks Investment Research cut shares of Rapid7 from a hold rating to a sell rating in a research note on Saturday, August 13th. Barclays PLC set a $17.00 target price on shares of Rapid7 and gave the stock a buy rating in a research note on Tuesday, August 9th. Rosenblatt Securities assumed coverage on shares of Rapid7 in a research note on Friday, August 26th. They issued a buy rating and a $23.00 target price on the stock. Macquarie assumed coverage on shares of Rapid7 in a research note on Friday, July 8th. They issued a neutral rating and a $16.00 target price on the stock. Finally, RBC Capital Markets assumed coverage on shares of Rapid7 in a research note on Friday. They issued an outperform rating and a $19.00 target price on the stock. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $19.43.
Shares of Rapid7 (NASDAQ:RPD) traded down 6.33% during midday trading on Friday, reaching $15.09. The company’s stock had a trading volume of 68,679 shares. The stock’s market capitalization is $613.15 million. Rapid7 has a 12 month low of $9.05 and a 12 month high of $22.14. The stock’s 50-day moving average is $17.25 and its 200 day moving average is $14.32.
Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.22) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.02. The company had revenue of $37.30 million for the quarter, compared to analysts’ expectations of $36.29 million. Rapid7 had a negative net margin of 46.51% and a negative return on equity of 100.88%. Rapid7’s revenue was up 44.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.61) EPS. On average, analysts expect that Rapid7 will post ($0.90) earnings per share for the current fiscal year.
In related news, insider Corey E. Thomas sold 10,000 shares of the stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $18.42, for a total transaction of $184,200.00. Following the transaction, the insider now owns 219,757 shares of the company’s stock, valued at approximately $4,047,923.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Corey E. Thomas sold 25,000 shares of the stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $18.05, for a total transaction of $451,250.00. Following the transaction, the insider now directly owns 194,757 shares in the company, valued at approximately $3,515,363.85. The disclosure for this sale can be found here. Insiders own 55.30% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in RPD. Cutler Group LP acquired a new position in Rapid7 during the third quarter valued at approximately $104,000. Commonwealth Equity Services Inc purchased a new stake in shares of Rapid7 during the second quarter worth about $135,000. American International Group Inc. raised its stake in shares of Rapid7 by 143.8% in the second quarter. American International Group Inc. now owns 11,455 shares of the company’s stock worth $144,000 after buying an additional 6,756 shares during the period. Nationwide Fund Advisors raised its stake in shares of Rapid7 by 160.1% in the second quarter. Nationwide Fund Advisors now owns 12,737 shares of the company’s stock worth $160,000 after buying an additional 7,840 shares during the period. Finally, Barclays PLC raised its stake in shares of Rapid7 by 1,990.4% in the second quarter. Barclays PLC now owns 13,316 shares of the company’s stock worth $167,000 after buying an additional 12,679 shares during the period. 67.39% of the stock is currently owned by institutional investors.
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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