Rapid7, Inc. (NASDAQ:RPD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Saturday.

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. “

Other equities analysts have also issued reports about the company. Cowen and Company reaffirmed a “hold” rating and issued a $11.50 target price on shares of Rapid7 in a research report on Friday, April 14th. Royal Bank Of Canada upped their price target on Rapid7 from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, May 10th. Susquehanna Bancshares Inc initiated coverage on Rapid7 in a research report on Wednesday, June 7th. They set a “neutral” rating and a $20.00 price target on the stock. Monness Crespi & Hardt initiated coverage on Rapid7 in a research report on Tuesday, May 30th. They issued a “buy” rating and a $23.00 target price on the stock. Finally, BidaskClub lowered Rapid7 from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.94.

Shares of Rapid7 (NASDAQ:RPD) opened at 15.55 on Friday. The stock has a 50 day moving average of $16.43 and a 200-day moving average of $16.04. Rapid7 has a 12 month low of $10.63 and a 12 month high of $19.29. The firm’s market capitalization is $670.38 million.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Monday, August 7th. The technology company reported ($0.26) earnings per share (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 analysts’ expectations of $46.31 million. During the same quarter in the previous year, the business earned ($0.22) EPS. The company’s revenue for the quarter was up 27.3% on a year-over-year basis. On average, equities research analysts anticipate that Rapid7 will post ($0.62) EPS for the current fiscal year.

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In other news, COO Andrew F. Burton sold 37,843 shares of Rapid7 stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $16.95, for a total transaction of $641,438.85. Following the sale, the chief operating officer now owns 238,158 shares of the company’s stock, valued at approximately $4,036,778.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jay C. Hoag sold 1,400,000 shares of Rapid7 stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $18.00, for a total value of $25,200,000.00. The disclosure for this sale can be found here. Company insiders own 56.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Laurion Capital Management LP bought a new position in Rapid7 during the second quarter valued at approximately $11,614,000. Frontier Capital Management Co. LLC acquired a new position in shares of Rapid7 during the second quarter valued at about $7,473,000. Marshall Wace North America L.P. acquired a new position in shares of Rapid7 during the second quarter valued at about $4,925,000. Penserra Capital Management LLC increased its position in shares of Rapid7 by 28.0% in the first quarter. Penserra Capital Management LLC now owns 932,188 shares of the technology company’s stock valued at $13,964,000 after buying an additional 204,188 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Rapid7 by 6.5% in the second quarter. Vanguard Group Inc. now owns 1,428,575 shares of the technology company’s stock valued at $24,044,000 after buying an additional 87,101 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors.

About Rapid7

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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Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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