Rapid7, Inc. (RPD) Given New $25.00 Price Target at Royal Bank Of Canada
Rapid7, Inc. (NASDAQ:RPD) had its target price hoisted by Royal Bank Of Canada from $22.00 to $25.00 in a research note published on Wednesday morning. They currently have an outperform rating on the technology company’s stock.
Other research analysts have also recently issued research reports about the company. BidaskClub raised Rapid7 from a sell rating to a hold rating in a research report on Wednesday, August 16th. Needham & Company LLC began coverage on Rapid7 in a research report on Monday, October 23rd. They set a buy rating and a $23.00 target price on the stock. Susquehanna Bancshares Inc raised Rapid7 from a neutral rating to a positive rating and set a $20.00 target price on the stock in a research report on Tuesday, August 8th. Northland Securities reaffirmed a buy rating and set a $23.00 target price on shares of Rapid7 in a research report on Friday, July 14th. Finally, Zacks Investment Research cut Rapid7 from a hold rating to a sell rating in a research report on Saturday, August 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $20.83.
Rapid7 (NASDAQ RPD) traded down $0.32 during midday trading on Wednesday, hitting $19.01. The stock had a trading volume of 448,600 shares, compared to its average volume of 161,867. Rapid7 has a 52-week low of $11.26 and a 52-week high of $20.25.
Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Tuesday, November 7th. The technology company reported ($0.15) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. The firm had revenue of $50.50 million during the quarter, compared to the consensus estimate of $49.87 million. Rapid7 had a negative return on equity of 115.79% and a negative net margin of 22.44%. The company’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.13) earnings per share. sell-side analysts expect that Rapid7 will post -1.03 EPS for the current year.
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In other Rapid7 news, Chairman Alan Matthews sold 52,770 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $17.22, for a total value of $908,699.40. Following the transaction, the chairman now owns 3,152,177 shares of the company’s stock, valued at $54,280,487.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Lee David Weiner sold 21,000 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $16.64, for a total value of $349,440.00. Following the completion of the transaction, the insider now directly owns 77,212 shares in the company, valued at approximately $1,284,807.68. The disclosure for this sale can be found here. In the last three months, insiders sold 114,895 shares of company stock worth $1,979,911. Insiders own 56.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Alliancebernstein L.P. boosted its position in Rapid7 by 1.4% in the first quarter. Alliancebernstein L.P. now owns 21,800 shares of the technology company’s stock worth $327,000 after purchasing an additional 300 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Rapid7 by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 67,670 shares of the technology company’s stock worth $1,139,000 after purchasing an additional 399 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Rapid7 by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 18,004 shares of the technology company’s stock worth $303,000 after purchasing an additional 625 shares during the last quarter. American International Group Inc. raised its stake in shares of 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 period. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Rapid7 by 25.8% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 10,352 shares of the technology company’s stock valued at $173,000 after buying an additional 2,124 shares during the period. 71.51% of the stock is currently owned by institutional investors and hedge funds.
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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