Rapid7, Inc. (RPD) Downgraded to “Hold” at Zacks Investment Research
Rapid7, Inc. (NASDAQ:RPD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday, July 12th.
According to Zacks, “Rapid7, Inc. offers security data and analytics solutions. The Company provides solutions which consist of threat exposure management, incident detection and response solutions as well as security advisory services. Rapid7, Inc. is based in Boston, United States. “
Several other equities research analysts also recently issued reports on the company. Cowen and Company restated a “hold” rating and set a $11.50 target price on shares of Rapid7 in a research report on Friday, April 14th. Susquehanna Bancshares Inc assumed coverage on Rapid7 in a research report on Wednesday, June 7th. They set a “neutral” rating and a $20.00 target price on the stock. Royal Bank Of Canada restated a “buy” rating and set a $19.00 target price on shares of Rapid7 in a research report on Friday, March 31st. Finally, Monness Crespi & Hardt assumed coverage on Rapid7 in a research report on Tuesday, May 30th. They set a “buy” rating and a $23.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Rapid7 currently has an average rating of “Hold” and an average target price of $19.93.
Shares of Rapid7 (NASDAQ RPD) opened at 15.06 on Wednesday. The company’s 50-day moving average price is $16.87 and its 200 day moving average price is $15.97. The firm’s market capitalization is $637.57 million. Rapid7 has a 12-month low of $10.63 and a 12-month high of $19.29.
Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Monday, August 7th. The technology company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.05. Rapid7 had a negative return on equity of 93.19% and a negative net margin of 26.19%. The business had revenue of $47.44 million during the quarter, compared to analyst estimates of $46.31 million. During the same period in the prior year, the company earned ($0.22) earnings per share. Rapid7’s revenue was up 27.3% compared to the same quarter last year. On average, equities analysts forecast that Rapid7 will post ($0.63) earnings per share for the current year.
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In related news, COO Andrew F. Burton sold 37,843 shares of the stock in a transaction on Friday, June 16th. The stock was sold at an average price of $16.95, for a total value of $641,438.85. Following the transaction, the chief operating officer now owns 238,158 shares of the company’s stock, valued at $4,036,778.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jay C. Hoag sold 1,400,000 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $18.00, for a total value of $25,200,000.00. The disclosure for this sale can be found here. Company insiders own 56.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Rapid7 by 4.7% in the first quarter. Vanguard Group Inc. now owns 1,341,474 shares of the technology company’s stock worth $20,096,000 after buying an additional 60,337 shares in the last quarter. Penserra Capital Management LLC boosted its position in Rapid7 by 28.0% in the first quarter. Penserra Capital Management LLC now owns 932,188 shares of the technology company’s stock worth $13,964,000 after buying an additional 204,188 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Rapid7 by 7.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 704,087 shares of the technology company’s stock worth $10,547,000 after buying an additional 49,970 shares in the last quarter. Frontier Capital Management Co. LLC bought a new position in shares of Rapid7 during the second quarter worth about $7,473,000. Finally, State Street Corp boosted its position in shares of Rapid7 by 0.9% in the fourth quarter. State Street Corp now owns 296,932 shares of the technology company’s stock worth $3,615,000 after buying an additional 2,758 shares during the period. 68.87% of the stock is currently owned by institutional investors and hedge funds.
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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