BidaskClub Lowers Rapid7, Inc. (NASDAQ:RPD) to Sell
BidaskClub cut shares of Rapid7, Inc. (NASDAQ:RPD) from a hold rating to a sell rating in a report published on Friday.
A number of other brokerages have also recently issued reports on RPD. Royal Bank Of Canada reissued a buy rating and set a $19.00 target price on shares of Rapid7 in a report on Friday, March 31st. Cowen and Company reissued a hold rating and set a $11.50 target price on shares of Rapid7 in a report on Friday, April 14th. Monness Crespi & Hardt began coverage on shares of Rapid7 in a report on Tuesday, May 30th. They set a buy rating and a $23.00 target price on the stock. Susquehanna Bancshares Inc began coverage on shares of Rapid7 in a report on Wednesday, June 7th. They set a neutral rating and a $20.00 target price on the stock. Finally, Zacks Investment Research cut shares of Rapid7 from a buy rating to a hold rating in a report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $19.93.
Shares of Rapid7 (RPD) traded up 0.72% during midday trading on Friday, reaching $15.30. The company had a trading volume of 72,121 shares. The firm’s market capitalization is $647.73 million. Rapid7 has a one year low of $10.63 and a one year high of $19.29. The company has a 50 day moving average price of $16.92 and a 200-day moving average price of $15.96.
Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Tuesday, May 9th. The technology company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.17. The company had revenue of $45.20 million for the quarter, compared to analysts’ expectations of $44.01 million. Rapid7 had a negative net margin of 26.19% and a negative return on equity of 93.19%. Rapid7’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.23) EPS. On average, analysts anticipate that Rapid7 will post ($0.63) EPS for the current fiscal year.
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In other Rapid7 news, COO Andrew F. Burton sold 37,843 shares of the business’s stock in a transaction on Friday, June 16th. The shares were 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 at this hyperlink. Also, insider Jay C. Hoag sold 1,400,000 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $18.00, for a total transaction of $25,200,000.00. The disclosure for this sale can be found here. Insiders own 56.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE boosted its position in Rapid7 by 594.0% in the first quarter. US Bancorp DE now owns 10,965 shares of the technology company’s stock valued at $165,000 after buying an additional 9,385 shares during the last quarter. TFS Capital LLC purchased a new position in Rapid7 during the first quarter valued at $169,000. American International Group Inc. boosted its position in Rapid7 by 7.1% in the first quarter. American International Group Inc. now owns 12,257 shares of the technology company’s stock valued at $184,000 after buying an additional 815 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in Rapid7 during the first quarter valued at $218,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Rapid7 by 23.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 15,620 shares of the technology company’s stock valued at $234,000 after buying an additional 2,980 shares during the last quarter. 68.99% of the stock is currently owned by hedge funds and other institutional investors.
Rapid7 Company Profile
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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