Rapid7 Inc. (RPD) Coverage Initiated by Analysts at RBC Capital Markets
Other equities analysts have also recently issued research reports about the stock. Barclays PLC set a $17.00 target price on shares of Rapid7 and gave the stock a buy rating in a research report on Tuesday, August 9th. Cowen and Company reissued a buy rating on shares of Rapid7 in a report on Sunday, June 26th. Rosenblatt Securities started coverage on shares of Rapid7 in a report on Friday, August 26th. They issued a buy rating and a $23.00 price target on the stock. Zacks Investment Research raised shares of Rapid7 from a sell rating to a hold rating in a report on Friday, July 1st. Finally, Macquarie started coverage on shares of Rapid7 in a report on Friday, July 8th. They issued a neutral rating and a $16.00 price target on the stock. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $19.43.
Rapid7 (NASDAQ:RPD) traded down 6.33% on Friday, hitting $15.09. The stock had a trading volume of 68,679 shares. Rapid7 has a one year low of $9.05 and a one year high of $22.14. The stock’s 50 day moving average is $17.25 and its 200 day moving average is $14.32. The stock’s market cap is $613.15 million.
Rapid7 (NASDAQ:RPD) last issued its earnings results on Monday, August 8th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates 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%. The firm’s revenue was up 44.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.61) EPS. Analysts anticipate that Rapid7 will post ($0.90) earnings per share for the current year.
In related news, insider Corey E. Thomas sold 25,000 shares of Rapid7 stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $18.05, for a total transaction of $451,250.00. Following the completion of the transaction, the insider now directly owns 194,757 shares of the company’s stock, valued at approximately $3,515,363.85. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Lee David Weiner sold 15,000 shares of Rapid7 stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $18.29, for a total transaction of $274,350.00. Following the transaction, the insider now directly owns 44,843 shares of the company’s stock, valued at $820,178.47. The disclosure for this sale can be found here. Insiders own 55.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cutler Group LP acquired a new position in shares of Rapid7 during the third quarter worth about $104,000. Commonwealth Equity Services Inc acquired a new position in shares of Rapid7 during the second quarter worth about $135,000. American International Group Inc. boosted its position 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 boosted its position 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 boosted 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 worth $167,000 after buying an additional 12,679 shares during the period. 67.39% of the stock is owned by institutional investors.
Rapid7 Company Profile
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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