Rapid7 Inc. (NASDAQ:RPD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “Rapid7, Inc. offers security data and analytics solutions. The Company provides solutions which consist of threat exposure management, incident detection and response solutions as well as security advisory services. Rapid7, Inc. is based in Boston, United States. “
Several other equities analysts also recently commented on the company. Barclays PLC set a $17.00 price objective on Rapid7 and gave the company a “buy” rating in a research note on Tuesday, August 9th. Raymond James Financial Inc. reiterated a “buy” rating on shares of Rapid7 in a research note on Thursday, June 2nd. Rosenblatt Securities initiated coverage on shares of Rapid7 in a report on Friday, August 26th. They set a “buy” rating and a $23.00 target price on the stock. Macquarie initiated coverage on shares of Rapid7 in a report on Friday, July 8th. They set a “neutral” rating and a $16.00 target price on the stock. Finally, Cowen and Company reissued a “buy” rating on shares of Rapid7 in a report on Sunday, June 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. Rapid7 has an average rating of “Buy” and a consensus target price of $20.67.
Shares of Rapid7 (NASDAQ:RPD) opened at 17.56 on Tuesday. Rapid7 has a 12-month low of $9.05 and a 12-month high of $24.96. The company’s 50 day moving average price is $16.91 and its 200 day moving average price is $13.91. The firm’s market cap is $713.52 million.
Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate 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 prior year, the business earned ($0.61) earnings per share. Rapid7’s revenue for the quarter was up 44.6% on a year-over-year basis. Equities research analysts forecast that Rapid7 will post ($0.90) EPS for the current year.
In related news, insider Corey E. Thomas sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $18.42, for a total value of $184,200.00. Following the completion of the transaction, the insider now directly owns 219,757 shares in the company, valued at $4,047,923.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven Gatoff sold 15,000 shares of the company’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $17.36, for a total transaction of $260,400.00. Following the completion of the transaction, the chief financial officer now owns 85,186 shares of the company’s stock, valued at $1,478,828.96. The disclosure for this sale can be found here. 55.30% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. raised its position in shares of Rapid7 by 121.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 39,050 shares of the company’s stock valued at $492,000 after buying an additional 21,452 shares during the period. Metropolitan Life Insurance Co. NY bought a new position in shares of Rapid7 during the second quarter valued at about $190,000. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Rapid7 by 19.7% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 388,971 shares of the company’s stock valued at $4,893,000 after buying an additional 63,971 shares during the period. Polar Capital LLP bought a new position in shares of Rapid7 during the second quarter valued at about $3,203,000. Finally, Barclays PLC raised its position in shares of 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 67.37% 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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