Zacks Investment Research Downgrades Rapid7, Inc. (RPD) to Sell
Rapid7, Inc. (NASDAQ:RPD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.
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 brokerages have also recently issued reports on RPD. ValuEngine cut Rapid7 from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. BidaskClub raised Rapid7 from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. UBS AG raised Rapid7 from a “neutral” rating to a “positive” rating and set a $20.00 price objective for the company in a research report on Tuesday, August 8th. Northland Securities reissued a “buy” rating and issued a $23.00 price objective on shares of Rapid7 in a research report on Friday, July 14th. Finally, Susquehanna Bancshares Inc began coverage on Rapid7 in a research report on Wednesday, June 7th. They issued a “neutral” rating and a $20.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $20.19.
Shares of Rapid7 (RPD) opened at 18.47 on Thursday. The firm has a 50-day moving average price of $17.49 and a 200 day moving average price of $17.49. Rapid7 has a 12-month low of $10.63 and a 12-month high of $18.65. The company’s market capitalization is $796.26 million.
Rapid7 (NASDAQ:RPD) last announced its earnings results on Monday, August 7th. The technology company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.04. The business had revenue of $47.44 million for the quarter, compared to analysts’ expectations of $46.31 million. Rapid7 had a negative return on equity of 98.26% and a negative net margin of 23.67%. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.22) EPS. On average, equities research analysts predict that Rapid7 will post ($0.62) earnings per share for the current year.
In other Rapid7 news, insider Lee David Weiner sold 20,000 shares of Rapid7 stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $17.15, for a total transaction of $343,000.00. Following the completion of the sale, the insider now owns 76,212 shares of the company’s stock, valued at approximately $1,307,035.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Alan Matthews sold 52,770 shares of Rapid7 stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $17.22, for a total value of $908,699.40. Following the sale, the chairman now directly owns 3,152,177 shares of the company’s stock, valued at approximately $54,280,487.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,770 shares of company stock valued at $1,601,139. 56.90% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Swiss National Bank lifted its position in Rapid7 by 21.5% during the 1st quarter. Swiss National Bank now owns 24,300 shares of the technology company’s stock worth $364,000 after acquiring an additional 4,300 shares during the period. Marshall Wace North America L.P. acquired a new stake in Rapid7 during the 2nd quarter worth about $4,925,000. Geode Capital Management LLC lifted its position in Rapid7 by 6.9% during the 1st quarter. Geode Capital Management LLC now owns 150,390 shares of the technology company’s stock worth $2,252,000 after acquiring an additional 9,667 shares during the period. Laurion Capital Management LP acquired a new stake in Rapid7 during the 2nd quarter worth about $11,614,000. Finally, UBS Oconnor LLC acquired a new stake in Rapid7 during the 2nd quarter worth about $3,575,000. 71.01% of the stock is owned by institutional investors.
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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