Rapid7 Inc. (RPD) Receives $18.67 Average PT from Brokerages
Rapid7 Inc. (NASDAQ:RPD) has received an average rating of “Buy” from the eleven ratings firms that are currently covering the firm. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $18.67.
RPD has been the subject of several analyst reports. Barclays PLC set a $17.00 price objective on shares of Rapid7 and gave the company a “buy” rating in a research note on Tuesday, August 9th. Cowen and Company reiterated a “buy” rating on shares of Rapid7 in a research note on Sunday, June 26th. Rosenblatt Securities initiated coverage on shares of Rapid7 in a research note on Friday, August 26th. They issued a “buy” rating and a $23.00 price objective for the company. Zacks Investment Research upgraded shares of Rapid7 from a “sell” rating to a “hold” rating in a research note on Friday, July 1st. Finally, Macquarie initiated coverage on shares of Rapid7 in a research note on Friday, July 8th. They issued a “neutral” rating and a $16.00 price objective for the company.
Shares of Rapid7 (NASDAQ:RPD) opened at 16.11 on Friday. The company has a 50 day moving average price of $17.25 and a 200 day moving average price of $14.32. Rapid7 has a 52 week low of $9.05 and a 52 week high of $22.14. The company’s market capitalization is $654.60 million.
Rapid7 (NASDAQ:RPD) last posted its earnings results on Monday, August 8th. The company reported ($0.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.02. Rapid7 had a negative net margin of 46.51% and a negative return on equity of 100.88%. The company had revenue of $37.30 million for the quarter, compared to analyst estimates of $36.29 million. During the same quarter in the prior year, the business posted ($0.61) EPS. The firm’s revenue was up 44.6% compared to the same quarter last year. On average, equities research analysts expect that Rapid7 will post ($0.90) earnings per share for the current year.
In related news, insider Corey E. Thomas sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $18.05, for a total value of $451,250.00. Following the completion of the transaction, the insider now directly owns 194,757 shares of the company’s stock, valued at approximately $3,515,363.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Corey E. Thomas sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $18.42, for a total transaction of $184,200.00. Following the completion of the transaction, the insider now directly owns 219,757 shares of the company’s stock, valued at $4,047,923.94. The disclosure for this sale can be found here. Insiders own 55.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cutler Group LP acquired a new position in Rapid7 during the third quarter valued at approximately $104,000. Commonwealth Equity Services Inc acquired a new position in Rapid7 during the second quarter valued at approximately $135,000. American International Group Inc. increased its position in Rapid7 by 143.8% in the second quarter. American International Group Inc. now owns 11,455 shares of the company’s stock valued at $144,000 after buying an additional 6,756 shares during the period. Nationwide Fund Advisors increased its position in Rapid7 by 160.1% in the second quarter. Nationwide Fund Advisors now owns 12,737 shares of the company’s stock valued at $160,000 after buying an additional 7,840 shares during the period. Finally, Barclays PLC increased its position in Rapid7 by 1,990.4% in the second quarter. Barclays PLC now owns 13,316 shares of the company’s stock valued at $167,000 after buying an additional 12,679 shares during the period. 67.37% of the stock is owned by institutional investors.
Rapid7 Company Profile
Rapid7, Inc is a provider of security data and analytics solutions that enable organizations to implement an active approach to cyber security. The Company’s Rapid7 Insight Platform is a security data and analytics platform that provides solutions to cyber security that enables organizations to find and eliminate critical weaknesses and detect attacks in their information technology (IT) environments.
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