Rapid7 Inc. (RPD) Receives $18.67 Consensus PT from Brokerages
Shares of Rapid7 Inc. (NASDAQ:RPD) have earned a consensus rating of “Buy” from the eleven analysts that are presently covering the company. Three equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $18.67.
Several research firms recently weighed in on RPD. Zacks Investment Research raised Rapid7 from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd. Barclays PLC set a $17.00 price target on Rapid7 and gave the stock a “buy” rating in a report on Tuesday, August 9th. Royal Bank Of Canada began coverage on Rapid7 in a report on Friday, October 14th. They set an “outperform” rating and a $19.00 price target for the company. RBC Capital Markets began coverage on Rapid7 in a report on Friday, October 14th. They set an “outperform” rating and a $19.00 price target for the company. Finally, Rosenblatt Securities began coverage on Rapid7 in a report on Friday, August 26th. They set a “buy” rating and a $23.00 price target for the company.
Shares of Rapid7 (NASDAQ:RPD) opened at 12.02 on Monday. The firm has a 50-day moving average price of $13.91 and a 200-day moving average price of $14.51. The company’s market capitalization is $494.33 million. Rapid7 has a 12 month low of $9.05 and a 12 month high of $19.34.
Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Wednesday, November 9th. The company reported ($0.13) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.07. The business earned $40.30 million during the quarter, compared to analysts’ expectations of $39.42 million. Rapid7 had a negative return on equity of 101.12% and a negative net margin of 41.53%. The firm’s revenue for the quarter was up 42.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.27) EPS. On average, equities research analysts predict that Rapid7 will post ($0.85) EPS for the current year.
In other Rapid7 news, insider Corey E. Thomas sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $18.42, for a total transaction of $184,200.00. Following the transaction, the insider now owns 219,757 shares in the company, valued at approximately $4,047,923.94. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Lee David Weiner sold 15,000 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $18.29, for a total value of $274,350.00. Following the transaction, the insider now owns 44,843 shares in the company, valued at approximately $820,178.47. The disclosure for this sale can be found here. Company insiders own 55.30% of the company’s stock.
A number of institutional investors have recently bought and sold shares of RPD. Vanguard Group Inc. raised 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 period. Westfield Capital Management Co. LP raised 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 period. Penserra Capital Management LLC raised its position in Rapid7 by 14.8% in the third quarter. Penserra Capital Management LLC now owns 708,066 shares of the company’s stock worth $12,497,000 after buying an additional 91,502 shares during the period. Wells Fargo & Company MN raised its position in Rapid7 by 17.2% in the third quarter. Wells Fargo & Company MN now owns 703,318 shares of the company’s stock worth $12,414,000 after buying an additional 103,116 shares during the period. Finally, UBS Asset Management Americas Inc. bought a new position in Rapid7 during the third quarter worth approximately $12,166,000. Hedge funds and other institutional investors own 68.99% of the company’s stock.
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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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