Rapid7 (NASDAQ:RPD) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.
A number of other research firms have also recently commented on RPD. Piper Jaffray Companies initiated coverage on Rapid7 in a research note on Monday, December 9th. They set an “overweight” rating and a $67.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $72.00 price target on shares of Rapid7 in a research note on Tuesday, November 5th. Robert W. Baird restated a “buy” rating and set a $72.00 price target on shares of Rapid7 in a research note on Tuesday, November 5th. Zacks Investment Research cut Rapid7 from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Finally, SunTrust Banks initiated coverage on Rapid7 in a research note on Wednesday, October 2nd. They set a “buy” rating and a $66.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Rapid7 currently has an average rating of “Buy” and a consensus price target of $63.61.
RPD traded down $0.25 during trading hours on Tuesday, reaching $62.51. The company’s stock had a trading volume of 6,758 shares, compared to its average volume of 382,785. The stock has a market cap of $3.12 billion, a PE ratio of -62.05 and a beta of 1.22. Rapid7 has a fifty-two week low of $34.94 and a fifty-two week high of $66.01. The company has a debt-to-equity ratio of 2.97, a current ratio of 1.38 and a quick ratio of 1.38. The business’s 50-day moving average is $57.18 and its 200-day moving average is $54.80.
Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.20. The company had revenue of $83.20 million during the quarter, compared to analyst estimates of $80.11 million. Rapid7 had a negative return on equity of 40.74% and a negative net margin of 17.27%. The firm’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.04) earnings per share. Analysts expect that Rapid7 will post -0.67 EPS for the current year.
In other news, CEO Corey E. Thomas sold 65,000 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $55.00, for a total value of $3,575,000.00. Following the transaction, the chief executive officer now owns 507,462 shares in the company, valued at approximately $27,910,410. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christina Luconi sold 8,088 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $55.34, for a total value of $447,589.92. Following the completion of the transaction, the insider now owns 140,685 shares in the company, valued at approximately $7,785,507.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 131,088 shares of company stock worth $7,217,345. Company insiders own 4.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Rapid7 by 26.4% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,038 shares of the technology company’s stock valued at $61,000 after acquiring an additional 217 shares during the last quarter. Signaturefd LLC grew its stake in Rapid7 by 125.0% during the 3rd quarter. Signaturefd LLC now owns 1,800 shares of the technology company’s stock worth $82,000 after buying an additional 1,000 shares during the last quarter. Point72 Hong Kong Ltd grew its stake in Rapid7 by 412.6% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,148 shares of the technology company’s stock worth $124,000 after buying an additional 1,729 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Rapid7 by 1,438.9% during the third quarter. Tower Research Capital LLC TRC now owns 2,970 shares of the technology company’s stock worth $135,000 after buying an additional 2,777 shares during the period. Finally, Virtu Financial LLC acquired a new position in Rapid7 during the third quarter worth approximately $209,000. Institutional investors and hedge funds own 90.22% of the company’s stock.
Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enable 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.
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