Rapid7 Inc. (NASDAQ:RPD) has been assigned a consensus recommendation of “Buy” from the eleven brokerages that are covering the firm. Three research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $18.67.
A number of equities research analysts have recently commented on the company. Zacks Investment Research downgraded Rapid7 from a “hold” rating to a “sell” rating in a research report on Tuesday, August 30th. Rosenblatt Securities assumed coverage on Rapid7 in a research report on Friday, August 26th. They issued a “buy” rating and a $23.00 price objective for the company. Royal Bank Of Canada assumed coverage on Rapid7 in a research report on Friday, October 14th. They issued an “outperform” rating and a $19.00 price objective for the company. RBC Capital Markets assumed coverage on Rapid7 in a research report on Friday, October 14th. They issued an “outperform” rating and a $19.00 price objective for the company. Finally, Barclays PLC set a $17.00 price objective on Rapid7 and gave the company a “buy” rating in a research report on Tuesday, August 9th.
In other Rapid7 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 transaction, the insider now owns 194,757 shares in the company, valued at $3,515,363.85. The sale was disclosed in a legal filing with the SEC, which is available at 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 owns 85,186 shares in the company, valued at approximately $1,478,828.96. The disclosure for this sale can be found here. Company insiders own 55.30% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Cutler Group LP acquired a new position in Rapid7 during the third quarter valued at approximately $104,000. Commonwealth Equity Services Inc acquired a new position in Rapid7 during the second quarter valued at approximately $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 during the period. 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 during the period. 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 during the period. Institutional investors own 67.39% of the company’s stock.
Shares of Rapid7 (NASDAQ:RPD) opened at 15.20 on Friday. The firm’s market cap is $617.62 million. The firm has a 50-day moving average price of $17.03 and a 200-day moving average price of $14.36. Rapid7 has a 52-week low of $9.05 and a 52-week high of $22.14.
Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.02. The company earned $37.30 million during the quarter, compared to the consensus estimate of $36.29 million. Rapid7 had a negative return on equity of 100.88% and a negative net margin of 46.51%. Rapid7’s revenue was up 44.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.61) earnings per share. Analysts predict that Rapid7 will post ($0.90) EPS for the current fiscal year.
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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