Rapid7 Inc. (RPD) Receives $18.67 Average PT from Brokerages
Rapid7 Inc. (NASDAQ:RPD) has received a consensus recommendation of “Buy” from the eleven brokerages that are currently covering the firm. Three equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $18.67.
Several research firms have weighed in on RPD. Zacks Investment Research lowered Rapid7 from a “hold” rating to a “sell” rating in a report on Tuesday, August 30th. Rosenblatt Securities began coverage on Rapid7 in a report on Friday, August 26th. They set a “buy” rating and a $23.00 target price on the stock. Royal Bank Of Canada began coverage on Rapid7 in a report on Friday. They set an “outperform” rating and a $19.00 target price on the stock. RBC Capital Markets began coverage on Rapid7 in a report on Friday. They set an “outperform” rating and a $19.00 target price on the stock. Finally, Barclays PLC set a $17.00 target price on Rapid7 and gave the stock a “buy” rating in a report on Tuesday, August 9th.
In related news, insider Lee David Weiner sold 15,000 shares of Rapid7 stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $16.72, for a total value of $250,800.00. Following the sale, the insider now owns 44,843 shares of the company’s stock, valued at $749,774.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $451,250.00. Following the completion of the sale, the insider now directly owns 194,757 shares in the company, valued at approximately $3,515,363.85. The disclosure for this sale can be found here. 55.30% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Rapid7 by 28.2% in the second quarter. Vanguard Group Inc. now owns 1,036,961 shares of the company’s stock worth $13,046,000 after buying an additional 227,869 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in Rapid7 by 6.5% in the second quarter. Westfield Capital Management Co. LP now owns 808,573 shares of the company’s stock worth $10,172,000 after buying an additional 49,030 shares during the last quarter. Granahan Investment Management Inc. MA boosted its position in Rapid7 by 153.0% in the first quarter. Granahan Investment Management Inc. MA now owns 489,600 shares of the company’s stock worth $6,399,000 after buying an additional 296,100 shares during the last quarter. BlackRock Fund Advisors boosted its position in Rapid7 by 149.7% in the second quarter. BlackRock Fund Advisors now owns 470,872 shares of the company’s stock worth $5,924,000 after buying an additional 282,298 shares during the last quarter. Finally, Polaris Venture Management Co. VI L.L.C. acquired a new position in Rapid7 during the first quarter worth approximately $5,906,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.
Shares of Rapid7 (NASDAQ:RPD) opened at 16.11 on Friday. The company’s 50-day moving average price is $17.25 and its 200 day moving average price is $14.32. The company’s market cap is $654.60 million. Rapid7 has a 52 week low of $9.05 and a 52 week high of $22.14.
Rapid7 (NASDAQ:RPD) last posted its earnings results on Monday, August 8th. The company reported ($0.22) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.02. The firm had revenue of $37.30 million for the quarter, compared to analyst estimates of $36.29 million. Rapid7 had a negative return on equity of 100.88% and a negative net margin of 46.51%. The company’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.61) earnings per share. On average, equities analysts forecast 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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