Rapid7 (NASDAQ:RPD) was upgraded by Zacks Investment Research from a "sell" rating to a "hold" rating in a research note issued on Wednesday, Zacks.com reports.
According to Zacks, "Rapid7, Inc. offers security data and analytics solutions. The Company provides solutions which consist of threat exposure management, incident detection and response solutions as well as security advisory services. Rapid7, Inc. is based in Boston, United States. "
Several other analysts have also recently issued reports on RPD. Barclays decreased their target price on shares of Rapid7 from $51.00 to $49.00 and set an "overweight" rating on the stock in a research report on Monday, May 4th. Goldman Sachs Group initiated coverage on shares of Rapid7 in a research report on Tuesday, March 24th. They set a "buy" rating and a $49.00 target price on the stock. Cowen decreased their target price on shares of Rapid7 from $70.00 to $55.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 21st. Monness Crespi & Hardt decreased their target price on shares of Rapid7 from $72.00 to $60.00 and set a "buy" rating on the stock in a research report on Wednesday, April 29th. Finally, BidaskClub upgraded shares of Rapid7 from a "sell" rating to a "hold" rating in a research report on Tuesday, June 30th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Rapid7 currently has a consensus rating of "Buy" and an average target price of $60.64.
RPD stock traded up $1.43 during mid-day trading on Wednesday, hitting $54.51. The company had a trading volume of 8,994 shares, compared to its average volume of 595,440. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -41.30 and a beta of 1.11. Rapid7 has a 12-month low of $31.34 and a 12-month high of $66.01. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 3.40. The company has a 50-day moving average price of $49.16 and a 200 day moving average price of $50.22.
Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09). The business had revenue of $94.34 million for the quarter, compared to analysts' expectations of $93.82 million. Rapid7 had a negative net margin of 18.70% and a negative return on equity of 55.85%. The business's quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.02 EPS. As a group, analysts expect that Rapid7 will post -1.29 EPS for the current year.
In other Rapid7 news, insider Lee David Weiner sold 11,205 shares of the company's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $46.32, for a total value of $519,015.60. Following the transaction, the insider now directly owns 160,369 shares in the company, valued at approximately $7,428,292.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 11,580 shares of company stock worth $537,499 over the last three months. 4.60% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of RPD. Oxford Asset Management LLP bought a new position in shares of Rapid7 during the fourth quarter valued at approximately $401,000. Axiom International Investors LLC DE boosted its stake in shares of Rapid7 by 22.7% during the fourth quarter. Axiom International Investors LLC DE now owns 49,270 shares of the technology company's stock valued at $2,760,000 after purchasing an additional 9,105 shares in the last quarter. Norges Bank bought a new position in shares of Rapid7 during the fourth quarter valued at approximately $19,986,000. SG Americas Securities LLC boosted its stake in shares of Rapid7 by 152.4% during the first quarter. SG Americas Securities LLC now owns 33,427 shares of the technology company's stock valued at $1,448,000 after purchasing an additional 20,181 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Rapid7 by 102.6% during the first quarter. Russell Investments Group Ltd. now owns 61,444 shares of the technology company's stock valued at $2,662,000 after purchasing an additional 31,118 shares in the last quarter. Institutional investors and hedge funds own 91.87% 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.
Further Reading: Consumer behavior in bull markets
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