ValuEngine upgraded shares of Rapid7 (NASDAQ:RPD) from a sell rating to a hold rating in a research report released on Friday.
A number of other research firms have also weighed in on RPD. Needham & Company LLC initiated coverage on Rapid7 in a research report on Monday, October 23rd. They set a buy rating and a $23.00 price objective for the company. BidaskClub lowered Rapid7 from a buy rating to a hold rating in a research report on Wednesday, October 18th. Susquehanna Bancshares raised their price objective on Rapid7 from $22.00 to $28.00 and gave the company a positive rating in a research report on Wednesday, January 24th. Zacks Investment Research lowered Rapid7 from a hold rating to a sell rating in a research report on Thursday, October 5th. Finally, KeyCorp reaffirmed an overweight rating and set a $30.00 price objective (up previously from $25.00) on shares of Rapid7 in a research report on Tuesday, January 30th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Rapid7 currently has a consensus rating of Buy and a consensus target price of $23.41.
Rapid7 (NASDAQ RPD) opened at $22.68 on Friday. Rapid7 has a 52-week low of $12.49 and a 52-week high of $25.95. The firm has a market capitalization of $995.22 and a P/E ratio of -22.91.
Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Tuesday, November 7th. The technology company reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.02. Rapid7 had a negative return on equity of 115.79% and a negative net margin of 22.44%. The company had revenue of $50.50 million during the quarter, compared to analyst estimates of $49.87 million. During the same quarter last year, the company earned ($0.13) EPS. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. equities analysts predict that Rapid7 will post -1.06 earnings per share for the current year.
In other news, 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 disclosure for this sale can be found here. In the last three months, insiders sold 3,366,228 shares of company stock valued at $67,886,717. Corporate insiders own 56.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors Inc. boosted its stake in shares of Rapid7 by 5.2% in the 4th quarter. Wasatch Advisors Inc. now owns 2,088,008 shares of the technology company’s stock worth $38,962,000 after buying an additional 103,934 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Rapid7 by 6.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,428,575 shares of the technology company’s stock worth $24,044,000 after buying an additional 87,101 shares during the last quarter. Frontier Capital Management Co. LLC boosted its stake in shares of Rapid7 by 62.3% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 720,672 shares of the technology company’s stock worth $12,684,000 after buying an additional 276,627 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Rapid7 in the 3rd quarter worth $7,896,000. Finally, Cortina Asset Management LLC purchased a new position in shares of Rapid7 in the 3rd quarter worth $6,015,000. Hedge funds and other institutional investors own 68.50% of the company’s stock.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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