Barclays reiterated their buy rating on shares of Rapid7 (NASDAQ:RPD) in a research note released on Thursday morning, AnalystRatings.com reports. Barclays currently has a $69.00 target price on the technology company’s stock.
RPD has been the subject of several other reports. Robert W. Baird initiated coverage on Carbon Black in a research note on Wednesday, April 3rd. They set an outperform rating and a $20.00 target price for the company. Cowen reduced their target price on Nordstrom from $44.00 to $36.00 and set a market perform rating for the company in a research note on Thursday, May 23rd. DA Davidson reiterated a buy rating and set a $90.00 target price on shares of Lumentum in a research note on Monday, May 6th. Stifel Nicolaus lifted their target price on Rapid7 from $52.00 to $58.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. Finally, Needham & Company LLC downgraded Silicom from a buy rating to a hold rating in a research note on Monday, April 29th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $57.18.
RPD stock traded up $0.38 during mid-day trading on Thursday, reaching $63.58. The company had a trading volume of 14,421 shares, compared to its average volume of 672,520. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.49 and a quick ratio of 1.49. The stock’s 50 day moving average is $56.25. The company has a market capitalization of $3.04 billion, a P/E ratio of -63.33 and a beta of 1.18. Rapid7 has a 52 week low of $26.27 and a 52 week high of $63.85.
Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.24. The firm had revenue of $73.20 million during the quarter, compared to the consensus estimate of $69.86 million. Rapid7 had a negative return on equity of 46.34% and a negative net margin of 19.35%. The business’s revenue was up 34.3% compared to the same quarter last year. During the same period last year, the company earned ($0.19) earnings per share. As a group, equities analysts expect that Rapid7 will post -0.61 EPS for the current fiscal year.
In other Rapid7 news, Director Timothy P. Mcadam sold 10,000 shares of Rapid7 stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $52.51, for a total value of $525,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Corey E. Thomas sold 50,000 shares of Rapid7 stock in a transaction on Monday, May 20th. The shares were sold at an average price of $51.31, for a total value of $2,565,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,137 shares of company stock valued at $6,705,192. 4.90% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of Rapid7 by 2.7% during the 4th quarter. BlackRock Inc. now owns 2,689,933 shares of the technology company’s stock worth $83,818,000 after buying an additional 70,008 shares in the last quarter. Federated Investors Inc. PA raised its holdings in shares of Rapid7 by 5.1% during the 1st quarter. Federated Investors Inc. PA now owns 1,308,272 shares of the technology company’s stock worth $66,212,000 after buying an additional 64,055 shares in the last quarter. Macquarie Group Ltd. acquired a new position in shares of Rapid7 during the 4th quarter worth $27,223,000. Wells Fargo & Company MN raised its holdings in shares of Rapid7 by 10.2% during the 1st quarter. Wells Fargo & Company MN now owns 820,929 shares of the technology company’s stock worth $41,547,000 after buying an additional 75,883 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Rapid7 by 1.3% during the 4th quarter. Northern Trust Corp now owns 474,273 shares of the technology company’s stock worth $14,778,000 after buying an additional 6,097 shares in the last quarter. 88.82% 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 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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