Rapid7 Inc (NASDAQ:RPD) has been assigned a consensus recommendation of “Buy” from the sixteen brokerages that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $35.31.
RPD has been the topic of a number of research analyst reports. BidaskClub cut shares of Rapid7 from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Stifel Nicolaus raised their price objective on shares of Rapid7 from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Needham & Company LLC raised their price objective on shares of Rapid7 from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, September 21st. Zacks Investment Research raised shares of Rapid7 from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Wednesday, October 10th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $40.00 price objective on shares of Rapid7 in a report on Tuesday, August 7th.
In other news, COO Andrew F. Burton sold 7,000 shares of Rapid7 stock in a transaction on Monday, September 17th. The shares were sold at an average price of $36.23, for a total value of $253,610.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Andrew F. Burton sold 9,492 shares of Rapid7 stock in a transaction on Friday, August 17th. The shares were sold at an average price of $32.53, for a total transaction of $308,774.76. The disclosure for this sale can be found here. Insiders sold a total of 255,732 shares of company stock worth $9,505,242 over the last ninety days. Corporate insiders own 25.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Barclays PLC grew its position in Rapid7 by 68.6% in the 1st quarter. Barclays PLC now owns 5,718 shares of the technology company’s stock valued at $146,000 after buying an additional 2,327 shares during the last quarter. Centaurus Financial Inc. purchased a new position in Rapid7 in the 2nd quarter valued at $169,000. Cubist Systematic Strategies LLC purchased a new position in Rapid7 in the 1st quarter valued at $213,000. Verition Fund Management LLC purchased a new position in Rapid7 in the 2nd quarter valued at $327,000. Finally, Metropolitan Life Insurance Co. NY grew its position in Rapid7 by 47.4% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 11,796 shares of the technology company’s stock valued at $333,000 after buying an additional 3,793 shares during the last quarter. 78.40% of the stock is currently owned by institutional investors and hedge funds.
Shares of Rapid7 stock opened at $34.09 on Friday. Rapid7 has a 52-week low of $17.43 and a 52-week high of $39.40. The company has a market capitalization of $1.58 billion, a P/E ratio of -32.47 and a beta of 1.13.
Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Monday, August 6th. The technology company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.05. Rapid7 had a negative net margin of 24.40% and a negative return on equity of 105.43%. The company had revenue of $58.40 million for the quarter, compared to analysts’ expectations of $55.14 million. During the same quarter last year, the company earned ($0.14) earnings per share. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. As a group, equities research analysts forecast that Rapid7 will post -1.01 EPS for the current fiscal year.
Rapid7 Company Profile
Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enables 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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