Zacks Investment Research Downgrades Rapid7 (RPD) to Hold

Zacks Investment Research lowered shares of Rapid7 (NASDAQ:RPD) from a buy rating to a hold rating in a research note issued to investors on Friday, January 19th.

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. “

A number of other analysts also recently commented on the company. BidaskClub raised Rapid7 from a sell rating to a hold rating in a research report on Wednesday, January 10th. ValuEngine raised Rapid7 from a sell rating to a hold rating in a research report on Sunday, December 31st. Rosenblatt Securities reissued a buy rating and issued a $23.00 target price on shares of Rapid7 in a research report on Thursday, December 14th. Royal Bank of Canada raised their target price on Rapid7 from $22.00 to $25.00 and gave the stock an outperform rating in a research report on Wednesday, November 8th. Finally, Needham & Company LLC assumed coverage on Rapid7 in a research report on Monday, October 23rd. They issued a buy rating and a $23.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Rapid7 has a consensus rating of Buy and a consensus price target of $24.29.

Shares of Rapid7 (RPD) traded up $0.95 on Friday, hitting $24.31. The company had a trading volume of 538,547 shares, compared to its average volume of 516,692. The stock has a market capitalization of $1,054.57, a P/E ratio of -22.93 and a beta of 1.12. Rapid7 has a one year low of $13.42 and a one year high of $25.95.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Monday, February 12th. The technology company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.11). The business had revenue of $57.73 million for the quarter, compared to analysts’ expectations of $57.39 million. Rapid7 had a negative net margin of 22.63% and a negative return on equity of 130.89%. The business’s revenue was up 28.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.13) earnings per share. equities analysts forecast that Rapid7 will post -1.01 EPS for the current fiscal year.

In other news, insider Corey E. Thomas sold 250,000 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $21.01, for a total value of $5,252,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Bain Capital Venture Investors sold 2,000,000 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $21.01, for a total value of $42,020,000.00. The disclosure for this sale can be found here. Insiders sold 2,345,246 shares of company stock valued at $49,165,672 over the last ninety days. Corporate insiders own 56.90% of the company’s stock.

Several institutional investors have recently bought and sold shares of RPD. ETF Managers Group LLC bought a new position in shares of Rapid7 in the second quarter worth $19,395,000. Wasatch Advisors Inc. boosted its holdings in shares of Rapid7 by 51.1% in the second quarter. Wasatch Advisors Inc. now owns 1,975,177 shares of the technology company’s stock worth $33,242,000 after acquiring an additional 668,273 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Rapid7 in the third quarter worth $7,896,000. Bank of New York Mellon Corp boosted its stake in Rapid7 by 417.9% during the fourth quarter. Bank of New York Mellon Corp now owns 447,864 shares of the technology company’s stock valued at $8,357,000 after buying an additional 361,392 shares during the period. Finally, Cortina Asset Management LLC bought a new stake in Rapid7 during the third quarter valued at $6,015,000. 68.49% of the stock is owned by hedge funds and other institutional investors.

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About Rapid7

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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