Rapid7 Inc (NASDAQ:RPD)’s stock price dropped 4.4% during mid-day trading on Wednesday . The stock traded as low as $53.61 and last traded at $55.05, approximately 425,088 shares changed hands during mid-day trading. A decline of 34% from the average daily volume of 646,581 shares. The stock had previously closed at $57.57.

RPD has been the subject of several research analyst reports. BTIG Research raised their price objective on Rapid7 to $62.00 and gave the stock a “positive” rating in a research note on Friday, May 3rd. Monness Crespi & Hardt restated a “buy” rating and issued a $72.00 price objective (up from $62.00) on shares of Rapid7 in a research note on Monday, July 29th. BidaskClub cut Rapid7 from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Northland Securities set a $75.00 price objective on Rapid7 and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, Morgan Stanley raised their price objective on Rapid7 from $51.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $62.24.

The company has a debt-to-equity ratio of 2.87, a current ratio of 1.37 and a quick ratio of 1.37. The stock’s fifty day moving average is $60.13. The firm has a market capitalization of $2.81 billion, a P/E ratio of -54.50 and a beta of 1.18.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.24) by $0.26. Rapid7 had a negative return on equity of 39.52% and a negative net margin of 17.63%. The company had revenue of $78.96 million for the quarter, compared to analyst estimates of $75.14 million. During the same period last year, the company earned ($0.13) earnings per share. Rapid7’s quarterly revenue was up 35.1% compared to the same quarter last year. As a group, sell-side analysts expect that Rapid7 Inc will post -0.62 EPS for the current fiscal year.

In other news, CEO Corey E. Thomas sold 50,000 shares of Rapid7 stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $51.31, for a total value of $2,565,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas E. Schodorf sold 600 shares of Rapid7 stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $52.36, for a total value of $31,416.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 102,037 shares of company stock worth $5,351,147. 4.90% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Harvest Group Wealth Management LLC acquired a new stake in shares of Rapid7 in the first quarter worth approximately $25,000. Private Capital Group LLC boosted its stake in shares of Rapid7 by 80.4% in the first quarter. Private Capital Group LLC now owns 745 shares of the technology company’s stock worth $38,000 after acquiring an additional 332 shares during the last quarter. Signaturefd LLC acquired a new stake in shares of Rapid7 in the second quarter worth approximately $46,000. FNY Investment Advisers LLC acquired a new stake in shares of Rapid7 in the second quarter worth approximately $57,000. Finally, Quantamental Technologies LLC acquired a new stake in shares of Rapid7 in the first quarter worth approximately $76,000. 88.27% of the stock is currently owned by hedge funds and other institutional investors.

Rapid7 Company Profile (NASDAQ:RPD)

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enable customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.

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