Royal Bank Of Canada started coverage on shares of Rapid7 Inc. (NASDAQ:RPD) in a research note published on Friday. The brokerage issued an outperform rating and a $19.00 price objective on the stock.
A number of other research firms also recently weighed in on RPD. Zacks Investment Research raised shares of Rapid7 from a sell rating to a hold rating in a research report on Wednesday, October 12th. Cowen and Company reaffirmed a buy rating on shares of Rapid7 in a research report on Sunday, June 26th. Rosenblatt Securities initiated coverage on shares of Rapid7 in a research report on Friday, August 26th. They issued a buy rating and a $23.00 target price for the company. RBC Capital Markets initiated coverage on shares of 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 shares of Rapid7 and gave the company a buy rating in a research report on Tuesday, August 9th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $19.43.
Shares of Rapid7 (NASDAQ:RPD) opened at 15.20 on Friday. The firm’s market cap is $617.62 million. The company has a 50 day moving average of $17.03 and a 200 day moving average of $14.36. Rapid7 has a 1-year low of $9.05 and a 1-year high of $22.14.
Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.02. Rapid7 had a negative net margin of 46.51% and a negative return on equity of 100.88%. The company earned $37.30 million during the quarter, compared to the consensus estimate of $36.29 million. During the same quarter in the prior year, the firm earned ($0.61) earnings per share. The firm’s revenue was up 44.6% compared to the same quarter last year. On average, equities analysts forecast that Rapid7 will post ($0.90) earnings per share for the current fiscal year.
In other Rapid7 news, insider Lee David Weiner sold 15,000 shares of Rapid7 stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $16.72, for a total value of $250,800.00. Following the completion of the sale, the insider now owns 44,843 shares in the company, valued at approximately $749,774.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Corey E. Thomas sold 25,000 shares of Rapid7 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 sale, the insider now owns 194,757 shares of the company’s stock, 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.
A number of hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Rapid7 by 11.5% in the first quarter. JPMorgan Chase & Co. now owns 168,487 shares of the company’s stock valued at $2,202,000 after buying an additional 17,387 shares during the period. State Street Corp boosted its stake in shares of Rapid7 by 3.0% in the first quarter. State Street Corp now owns 101,644 shares of the company’s stock valued at $1,328,000 after buying an additional 2,962 shares during the period. Harvest Capital Strategies LLC acquired a new stake in shares of Rapid7 during the first quarter valued at $654,000. Granahan Investment Management Inc. MA boosted its stake in shares of Rapid7 by 153.0% in the first quarter. Granahan Investment Management Inc. MA now owns 489,600 shares of the company’s stock valued at $6,399,000 after buying an additional 296,100 shares during the period. Finally, Commonwealth Equity Services Inc acquired a new stake in shares of Rapid7 during the second quarter valued at $135,000. Institutional investors and hedge funds own 67.39% of the company’s stock.
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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