Rapid7 (NASDAQ:RPD) had its target price raised by Raymond James from $69.00 to $75.00 in a report released on Wednesday, The Fly reports. The brokerage currently has a “strong-buy” rating on the technology company’s stock. Raymond James’ target price would suggest a potential upside of 20.12% from the company’s current price.
RPD has been the subject of several other reports. Zacks Investment Research lowered shares of Rapid7 from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Piper Jaffray Companies began coverage on shares of Rapid7 in a report on Monday, December 9th. They issued an “overweight” rating and a $67.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $72.00 price objective on shares of Rapid7 in a report on Tuesday, November 5th. ValuEngine lowered shares of Rapid7 from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, BidaskClub upgraded shares of Rapid7 from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $65.28.
Shares of NASDAQ RPD traded up $0.52 during trading hours on Wednesday, hitting $62.44. The company’s stock had a trading volume of 16,037 shares, compared to its average volume of 361,935. The company has a debt-to-equity ratio of 2.97, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -57.77 and a beta of 1.22. Rapid7 has a 12 month low of $34.94 and a 12 month high of $66.01. The business has a 50-day simple moving average of $58.35 and a 200-day simple moving average of $54.96.
Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Tuesday, November 5th. The technology company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.20. Rapid7 had a negative net margin of 17.27% and a negative return on equity of 40.74%. The business had revenue of $83.20 million during the quarter, compared to analyst estimates of $80.11 million. During the same period last year, the business posted ($0.04) earnings per share. Rapid7’s quarterly revenue was up 33.3% compared to the same quarter last year. On average, equities research analysts forecast that Rapid7 will post -0.67 EPS for the current year.
In other news, insider Christina Luconi sold 8,088 shares of Rapid7 stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $55.34, for a total transaction of $447,589.92. Following the completion of the transaction, the insider now directly owns 140,685 shares in the company, valued at $7,785,507.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Corey E. Thomas sold 15,000 shares of Rapid7 stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $55.00, for a total transaction of $825,000.00. Following the transaction, the chief executive officer now owns 457,462 shares of the company’s stock, valued at $25,160,410. The disclosure for this sale can be found here. Insiders have sold 131,088 shares of company stock valued at $7,217,345 over the last quarter. Company insiders own 4.90% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Rapid7 by 26.4% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,038 shares of the technology company’s stock valued at $61,000 after purchasing an additional 217 shares during the last quarter. Signaturefd LLC raised its holdings in Rapid7 by 125.0% in the 3rd quarter. Signaturefd LLC now owns 1,800 shares of the technology company’s stock worth $82,000 after acquiring an additional 1,000 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Rapid7 in the 4th quarter worth approximately $109,000. Point72 Hong Kong Ltd raised its holdings in Rapid7 by 412.6% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,148 shares of the technology company’s stock worth $124,000 after acquiring an additional 1,729 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Rapid7 by 1,438.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,970 shares of the technology company’s stock worth $135,000 after acquiring an additional 2,777 shares during the last quarter. Hedge funds and other institutional investors own 90.29% of the company’s stock.
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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