Shares of Rapid7, Inc. (NASDAQ:RPD) have been assigned an average rating of “Buy” from the twelve research firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $20.83.

A number of brokerages have issued reports on RPD. BidaskClub raised Rapid7 from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Needham & Company LLC began coverage on Rapid7 in a report on Monday, October 23rd. They set a “buy” rating and a $23.00 price objective for the company. Zacks Investment Research cut Rapid7 from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. KeyCorp reissued a “buy” rating and set a $25.00 price objective on shares of Rapid7 in a report on Friday, October 6th. Finally, Royal Bank of Canada lifted their price objective on Rapid7 from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, November 8th.

Shares of Rapid7 (RPD) traded down $0.23 during midday trading on Thursday, hitting $18.54. The company’s stock had a trading volume of 191,919 shares, compared to its average volume of 215,428. Rapid7 has a 12 month low of $11.72 and a 12 month high of $20.25.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Tuesday, November 7th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.02. The company had revenue of $50.50 million during the quarter, compared to analysts’ expectations of $49.87 million. Rapid7 had a negative return on equity of 115.79% and a negative net margin of 22.44%. The business’s revenue was up 25.3% on a year-over-year basis. During the same period last year, the business earned ($0.13) earnings per share. equities research analysts anticipate that Rapid7 will post -1.03 EPS for the current year.

In related news, Director Jay C. Hoag sold 35,246 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $19.40, for a total transaction of $683,772.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alan Matthews sold 52,770 shares of the company’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 sale, the chairman now owns 3,152,177 shares of the company’s stock, valued at $54,280,487.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,170,123 shares of company stock worth $21,403,488. Insiders own 56.90% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Citigroup Inc. raised its position in shares of Rapid7 by 1,398.9% during the second quarter. Citigroup Inc. now owns 9,788 shares of the technology company’s stock worth $165,000 after acquiring an additional 9,135 shares during the last quarter. BT Investment Management Ltd acquired a new stake in Rapid7 in the second quarter valued at approximately $169,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in 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 acquiring an additional 2,124 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Rapid7 in the third quarter valued at approximately $187,000. Finally, Jane Street Group LLC purchased a new position in shares of Rapid7 during the third quarter valued at approximately $237,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

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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.

Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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