Rapid7, Inc. (NASDAQ:RPD)‘s stock had its “buy” rating reaffirmed by stock analysts at KeyCorp in a research note issued to investors on Friday, October 6th. They presently have a $25.00 price target on the technology company’s stock. KeyCorp’s target price would indicate a potential upside of 41.64% from the stock’s current price.
A number of other brokerages have also recently commented on RPD. Zacks Investment Research cut shares of Rapid7 from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Northland Securities reaffirmed a “buy” rating and set a $23.00 price objective on shares of Rapid7 in a research note on Friday, July 14th. BidaskClub cut shares of Rapid7 from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. ValuEngine cut shares of Rapid7 from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, UBS AG raised shares of Rapid7 from a “neutral” rating to a “positive” rating and set a $20.00 price target on the stock in a research note on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. Rapid7 presently has an average rating of “Hold” and an average target price of $20.19.
Shares of Rapid7 (NASDAQ RPD) opened at 17.65 on Friday. Rapid7 has a 52 week low of $10.63 and a 52 week high of $19.29. The company’s market cap is $760.91 million. The company has a 50 day moving average of $17.63 and a 200 day moving average of $17.63.
Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Monday, August 7th. The technology company reported ($0.26) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.04. The firm had revenue of $47.44 million during the quarter, compared to analyst estimates of $46.31 million. Rapid7 had a negative net margin of 23.67% and a negative return on equity of 98.26%. Rapid7’s revenue was up 27.3% on a year-over-year basis. During the same period last year, the firm posted ($0.22) EPS. On average, analysts expect that Rapid7 will post ($0.62) EPS for the current year.
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In other Rapid7 news, insider Lee David Weiner sold 20,000 shares of Rapid7 stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $17.15, for a total value of $343,000.00. Following the completion of the transaction, the insider now directly owns 76,212 shares of the company’s stock, valued at approximately $1,307,035.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Alan Matthews sold 52,770 shares of Rapid7 stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $17.22, for a total value of $908,699.40. Following the completion of the transaction, the chairman now directly owns 3,152,177 shares of the company’s stock, valued at $54,280,487.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,770 shares of company stock worth $1,601,139. 56.90% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Rapid7 during the second quarter worth about $286,000. Wasatch Advisors Inc. boosted its holdings in Rapid7 by 51.1% in the second quarter. Wasatch Advisors Inc. now owns 1,975,177 shares of the technology company’s stock valued at $33,242,000 after purchasing an additional 668,273 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Rapid7 by 70.2% in the second quarter. Public Employees Retirement System of Ohio now owns 97,792 shares of the technology company’s stock valued at $1,646,000 after purchasing an additional 40,332 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Rapid7 by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 18,004 shares of the technology company’s stock valued at $303,000 after purchasing an additional 625 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Rapid7 by 25.8% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 10,352 shares of the technology company’s stock valued at $173,000 after purchasing an additional 2,124 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.
Rapid7 Company Profile
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.
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