BidaskClub lowered shares of Rapid7 (NASDAQ:RPD) from a strong-buy rating to a buy rating in a research note published on Wednesday morning.
A number of other research firms have also recently weighed in on RPD. Stifel Nicolaus raised their price target on Rapid7 from $42.00 to $44.00 and gave the company a buy rating in a research note on Tuesday, October 2nd. Needham & Company LLC raised their price target on Rapid7 from $37.00 to $42.00 and gave the company a buy rating in a research note on Friday, September 21st. Zacks Investment Research upgraded Rapid7 from a hold rating to a buy rating and set a $40.00 price target on the stock in a research note on Wednesday, October 10th. KeyCorp raised their price target on Rapid7 from $35.00 to $38.00 and gave the company an overweight rating in a research note on Tuesday, August 7th. Finally, Monness Crespi & Hardt raised their price target on Rapid7 from $35.00 to $38.00 and gave the company a buy rating in a research note on Tuesday, August 7th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $35.79.
Shares of NASDAQ RPD traded down $0.81 during mid-day trading on Wednesday, hitting $34.72. The company had a trading volume of 543,214 shares, compared to its average volume of 530,601. The stock has a market cap of $1.74 billion, a P/E ratio of -33.07 and a beta of 1.02. Rapid7 has a 1-year low of $17.64 and a 1-year high of $39.40.
Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Tuesday, November 6th. The technology company reported ($0.20) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.05. Rapid7 had a negative return on equity of 89.66% and a negative net margin of 23.83%. The company had revenue of $62.40 million for the quarter, compared to analysts’ expectations of $59.50 million. During the same period last year, the firm earned ($0.15) earnings per share. Rapid7’s quarterly revenue was up 23.6% on a year-over-year basis. As a group, sell-side analysts expect that Rapid7 will post -1.01 earnings per share for the current fiscal year.
In other news, COO Andrew F. Burton sold 7,000 shares of Rapid7 stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $36.23, for a total transaction of $253,610.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Vii Lp Tcv sold 182,600 shares of Rapid7 stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $37.96, for a total value of $6,931,496.00. The disclosure for this sale can be found here. Insiders have sold 235,732 shares of company stock worth $8,852,242 in the last quarter. Insiders own 25.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its holdings in shares of Rapid7 by 68.6% during the first quarter. Barclays PLC now owns 5,718 shares of the technology company’s stock worth $146,000 after buying an additional 2,327 shares during the last quarter. Centaurus Financial Inc. purchased a new position in shares of Rapid7 during the second quarter worth about $169,000. Cubist Systematic Strategies LLC purchased a new position in shares of Rapid7 during the first quarter worth about $213,000. Verition Fund Management LLC purchased a new position in shares of Rapid7 during the second quarter worth about $327,000. Finally, Harvest Fund Management Co. Ltd grew its holdings in shares of Rapid7 by 598.9% during the third quarter. Harvest Fund Management Co. Ltd now owns 8,918 shares of the technology company’s stock worth $329,000 after buying an additional 7,642 shares during the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.
Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enables customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.
Further Reading: Understanding Price to Earnings Ratio (PE)
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