Zacks Investment Research downgraded shares of Rapid7, Inc. (NASDAQ:RPD) from a hold rating to a sell rating in a report published on Thursday.
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. “
RPD has been the subject of a number of other reports. BidaskClub cut Rapid7 from a sell rating to a strong sell rating in a research note on Wednesday, August 9th. Susquehanna Bancshares Inc upgraded Rapid7 from a neutral rating to a positive rating and set a $20.00 price objective for the company in a research note on Tuesday, August 8th. Northland Securities reiterated a buy rating and issued a $23.00 price objective on shares of Rapid7 in a research note on Friday, July 14th. UBS AG upgraded Rapid7 from a neutral rating to a positive rating and set a $20.00 price objective for the company in a research note on Tuesday, August 8th. Finally, ValuEngine cut Rapid7 from a hold rating to a sell rating in a research note on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. Rapid7 currently has a consensus rating of Buy and an average target price of $20.19.
Rapid7 (NASDAQ RPD) opened at 18.47 on Thursday. The stock has a 50 day moving average of $17.49 and a 200-day moving average of $17.49. Rapid7 has a 12-month low of $10.63 and a 12-month high of $19.29. The company’s market capitalization is $796.26 million.
Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Monday, August 7th. The technology company reported ($0.26) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.04. Rapid7 had a negative return on equity of 98.26% and a negative net margin of 23.67%. The business had revenue of $47.44 million during the quarter, compared to the consensus estimate of $46.31 million. During the same period in the previous year, the company posted ($0.22) earnings per share. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. Equities analysts expect that Rapid7 will post ($0.62) earnings per share for the current year.
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In other Rapid7 news, Chairman Alan Matthews sold 52,770 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $17.22, for a total value of $908,699.40. Following the sale, the chairman now owns 3,152,177 shares of the company’s stock, valued at $54,280,487.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lee David Weiner sold 21,000 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $16.64, for a total value of $349,440.00. Following the completion of the sale, the insider now directly owns 77,212 shares in the company, valued at approximately $1,284,807.68. The disclosure for this sale can be found here. Insiders sold 93,770 shares of company stock valued at $1,601,139 in the last quarter. 56.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. US Bancorp DE boosted its stake in shares of Rapid7 by 594.0% during the first quarter. US Bancorp DE now owns 10,965 shares of the technology company’s stock valued at $165,000 after acquiring an additional 9,385 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Rapid7 by 1,398.9% during the second quarter. Citigroup Inc. now owns 9,788 shares of the technology company’s stock valued at $165,000 after acquiring an additional 9,135 shares during the last quarter. BT Investment Management Ltd acquired a new stake in shares of Rapid7 during the second quarter valued at $169,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Rapid7 by 25.8% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 10,352 shares of the technology company’s stock valued at $173,000 after acquiring an additional 2,124 shares during the last quarter. Finally, American International Group Inc. boosted its stake in shares of Rapid7 by 7.1% during the first quarter. American International Group Inc. now owns 12,257 shares of the technology company’s stock valued at $184,000 after acquiring an additional 815 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.
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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