Rapid7 Inc. (RPD) Receives New Coverage from Analysts at Royal Bank Of Canada
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 have also commented on RPD. Zacks Investment Research lowered Rapid7 from a hold rating to a sell rating in a research note on Tuesday, August 30th. Rosenblatt Securities assumed coverage on Rapid7 in a research note on Friday, August 26th. They set a buy rating and a $23.00 price objective on the stock. RBC Capital Markets assumed coverage on Rapid7 in a research note on Friday. They set an outperform rating and a $19.00 price objective on the stock. Barclays PLC set a $17.00 target price on Rapid7 and gave the stock a buy rating in a research report on Tuesday, August 9th. Finally, Cowen and Company reiterated a buy rating on shares of Rapid7 in a research report on Sunday, June 26th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $19.43.
Shares of Rapid7 (NASDAQ:RPD) traded down 6.33% on Friday, reaching $15.09. 68,679 shares of the company were exchanged. The stock’s market capitalization is $613.15 million. The firm has a 50 day moving average price of $17.25 and a 200-day moving average price of $14.32. Rapid7 has a 12-month low of $9.05 and a 12-month high of $22.14.
Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. The business 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 business’s revenue for the quarter was up 44.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.61) earnings per share. On average, analysts predict that Rapid7 will post ($0.90) EPS for the current fiscal year.
In other Rapid7 news, insider Corey E. Thomas sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $3,515,363.85. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Lee David Weiner sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The shares were 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 approximately $749,774.96. The disclosure for this sale can be found here. 55.30% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. Cutler Group LP acquired a new stake in shares of Rapid7 during the third quarter worth $104,000. Schwab Charles Investment Management Inc. raised its stake 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 worth $492,000 after buying an additional 21,452 shares during the period. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Rapid7 during the second quarter worth $190,000. Caisse DE Depot ET Placement DU Quebec raised its stake 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 worth $4,893,000 after buying an additional 63,971 shares during the period. Finally, Polar Capital LLP acquired a new stake in shares of Rapid7 during the second quarter worth $3,203,000. Hedge funds and other institutional investors own 67.39% of the company’s stock.
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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