Rapid7 (NASDAQ:RPD) had its target price increased by Monness Crespi & Hardt from $38.00 to $41.00 in a research note released on Wednesday. Monness Crespi & Hardt currently has a buy rating on the technology company’s stock.
A number of other equities research analysts have also issued reports on the company. Needham & Company LLC raised their price target on Rapid7 from $37.00 to $42.00 and gave the stock a buy rating in a research note on Friday, September 21st. BidaskClub raised Rapid7 from a buy rating to a strong-buy rating in a research note on Saturday, August 25th. Stifel Nicolaus raised their price target on Rapid7 from $42.00 to $44.00 and gave the stock a buy rating in a research note on Tuesday, October 2nd. Royal Bank of Canada reissued a buy rating and set a $40.00 price target on shares of Rapid7 in a research note on Tuesday, August 7th. Finally, Zacks Investment Research raised Rapid7 from a hold rating to a buy rating and set a $40.00 price target for the company in a research note on Wednesday, October 10th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $35.79.
Shares of RPD stock traded down $0.81 on Wednesday, reaching $34.72. 543,214 shares of the company’s stock were exchanged, compared to its average volume of 530,601. Rapid7 has a 52 week low of $17.64 and a 52 week high of $39.40. The firm has a market capitalization of $1.74 billion, a P/E ratio of -33.07 and a beta of 1.02.
Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Tuesday, November 6th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $62.40 million during the quarter, compared to analyst estimates of $59.50 million. During the same period last year, the company earned ($0.15) EPS. Rapid7’s quarterly revenue was up 23.6% compared to the same quarter last year. On average, equities research analysts anticipate that Rapid7 will post -1.01 earnings per share for the current fiscal year.
In other news, insider Vii Lp Tcv sold 182,600 shares of the business’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $37.96, for a total value of $6,931,496.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Andrew F. Burton sold 9,492 shares of the business’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $32.53, for a total value of $308,774.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 235,732 shares of company stock valued at $8,852,242. 25.60% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Suffolk Capital Management LLC raised its position in shares of Rapid7 by 27.2% in the 3rd quarter. Suffolk Capital Management LLC now owns 23,184 shares of the technology company’s stock worth $856,000 after acquiring an additional 4,963 shares in the last quarter. BlackRock Inc. raised its position in shares of Rapid7 by 2.4% in the 3rd quarter. BlackRock Inc. now owns 2,619,925 shares of the technology company’s stock worth $96,727,000 after acquiring an additional 62,532 shares in the last quarter. Jupiter Asset Management Ltd. raised its position in shares of Rapid7 by 17.8% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 143,451 shares of the technology company’s stock worth $5,323,000 after acquiring an additional 21,692 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Rapid7 by 3,076.7% in the 3rd quarter. Alliancebernstein L.P. now owns 1,226,757 shares of the technology company’s stock worth $45,292,000 after acquiring an additional 1,188,140 shares in the last quarter. Finally, Chartwell Investment Partners LLC raised its position in shares of Rapid7 by 53.7% in the 3rd quarter. Chartwell Investment Partners LLC now owns 302,989 shares of the technology company’s stock worth $11,186,000 after acquiring an additional 105,861 shares in the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.
Rapid7 Company Profile
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.
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