Royal Bank Of Canada Initiates Coverage on Rapid7 Inc. (RPD)
Investment analysts at Royal Bank Of Canada initiated coverage on shares of Rapid7 Inc. (NASDAQ:RPD) in a research report issued on Friday. The firm set an “outperform” rating and a $19.00 price target on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 26.67% from the company’s current price.
Other analysts have also recently issued reports about the company. Zacks Investment Research cut Rapid7 from a “hold” rating to a “sell” rating in a report on Tuesday, August 30th. Rosenblatt Securities started coverage on Rapid7 in a report on Friday, August 26th. They set a “buy” rating and a $23.00 price objective on the stock. RBC Capital Markets started coverage on Rapid7 in a report on Friday. They set an “outperform” rating and a $19.00 price objective on the stock. Barclays PLC set a $17.00 price objective on Rapid7 and gave the stock a “buy” rating in a report on Tuesday, August 9th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Rapid7 in a report on Sunday, June 26th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $19.43.
Rapid7 (NASDAQ:RPD) opened at 15.00 on Friday. The stock has a 50 day moving average of $17.14 and a 200 day moving average of $14.35. The company’s market cap is $609.49 million. Rapid7 has a one year low of $9.05 and a one year high of $22.14.
Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.22) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.02. Rapid7 had a negative return on equity of 100.88% and a negative net margin of 46.51%. The company had revenue of $37.30 million for the quarter, compared to analysts’ expectations of $36.29 million. During the same period in the previous year, the firm earned ($0.61) EPS. The firm’s revenue was up 44.6% compared to the same quarter last year. On average, analysts anticipate that Rapid7 will post ($0.90) earnings per share for the current fiscal year.
In other Rapid7 news, insider Corey E. Thomas sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $18.42, for a total value of $184,200.00. Following the transaction, the insider now owns 219,757 shares of the company’s stock, valued at approximately $4,047,923.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven Gatoff sold 15,000 shares of the company’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $17.36, for a total value of $260,400.00. Following the completion of the transaction, the chief financial officer now directly owns 85,186 shares in the company, valued at approximately $1,478,828.96. The disclosure for this sale can be found here. Insiders own 55.30% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Polaris Venture Management Co. VI L.L.C. acquired a new position in shares of Rapid7 during the first quarter valued at approximately $5,906,000. Granahan Investment Management Inc. MA increased its position in shares of Rapid7 by 153.0% in the first quarter. Granahan Investment Management Inc. MA now owns 489,600 shares of the company’s stock valued at $6,399,000 after buying an additional 296,100 shares during the period. BlackRock Fund Advisors increased its position in shares of Rapid7 by 149.7% in the second quarter. BlackRock Fund Advisors now owns 470,872 shares of the company’s stock valued at $5,924,000 after buying an additional 282,298 shares during the period. Polar Capital LLP acquired a new position in shares of Rapid7 during the second quarter valued at approximately $3,203,000. Finally, Vanguard Group Inc. increased its position in shares of Rapid7 by 28.2% in the second quarter. Vanguard Group Inc. now owns 1,036,961 shares of the company’s stock valued at $13,046,000 after buying an additional 227,869 shares during the period. 67.39% of the stock is currently owned by institutional investors.
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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