BidaskClub lowered shares of Rapid7 (NASDAQ:RPD) from a hold rating to a sell rating in a research note released on Wednesday, December 27th.
Other equities research analysts have also recently issued research reports about the stock. Needham & Company LLC initiated coverage on shares of Rapid7 in a report on Monday, October 23rd. They issued a buy rating and a $23.00 target price on the stock. KeyCorp reiterated a buy rating and issued a $25.00 price target on shares of Rapid7 in a research report on Friday, October 6th. Rosenblatt Securities reiterated a buy rating and issued a $23.00 price target on shares of Rapid7 in a research report on Thursday, December 14th. Royal Bank of Canada increased their price target on shares of Rapid7 from $22.00 to $25.00 and gave the stock an outperform rating in a research report on Wednesday, November 8th. Finally, Zacks Investment Research downgraded shares of Rapid7 from a hold rating to a sell rating in a research report on Thursday, October 5th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $21.32.
Shares of Rapid7 (NASDAQ:RPD) opened at $22.30 on Wednesday. Rapid7 has a fifty-two week low of $12.20 and a fifty-two week high of $22.58. The company has a market cap of $978.55 and a P/E ratio of -22.53.
Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Tuesday, November 7th. The technology company reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.02. Rapid7 had a negative net margin of 22.44% and a negative return on equity of 115.79%. The firm had revenue of $50.50 million for the quarter, compared to analysts’ expectations of $49.87 million. During the same quarter in the prior year, the company posted ($0.13) earnings per share. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. analysts expect that Rapid7 will post -1.05 earnings per share for the current fiscal year.
In other Rapid7 news, Director Jay C. Hoag sold 35,246 shares of Rapid7 stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $19.40, for a total value of $683,772.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Alan Matthews sold 20,000 shares of Rapid7 stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $20.00, for a total transaction of $400,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,117,353 shares of company stock worth $20,551,788. 56.90% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in RPD. Schwab Charles Investment Management Inc. boosted its stake in shares of Rapid7 by 5.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 67,271 shares of the technology company’s stock worth $1,008,000 after purchasing an additional 3,591 shares during the period. Rhumbline Advisers boosted its stake in shares of Rapid7 by 12.8% during the 2nd quarter. Rhumbline Advisers now owns 23,331 shares of the technology company’s stock worth $393,000 after purchasing an additional 2,640 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Rapid7 by 13.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 85,583 shares of the technology company’s stock worth $1,441,000 after purchasing an additional 10,345 shares during the period. Marshall Wace North America L.P. purchased a new position in shares of Rapid7 during the 2nd quarter worth about $4,925,000. Finally, Wesbanco Bank Inc. purchased a new position in shares of Rapid7 during the 2nd quarter worth about $479,000. 70.71% of the stock is owned by hedge funds and other institutional investors.
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Rapid7 Company Profile
Rapid7, Inc is a provider analytics for security and information technology (IT) operations that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The Company’s analytics enable organizations to contextualize and prioritize the threats facing their physical, virtual and cloud assets, including those posed by the behaviors of their users.
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