Rapid7 (NASDAQ:RPD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

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. “

Several other equities research analysts have also issued reports on RPD. BidaskClub raised shares of Rapid7 from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. ValuEngine raised shares of Rapid7 from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Royal Bank of Canada boosted their price target on shares of Rapid7 from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, November 8th. Needham & Company LLC assumed coverage on shares of Rapid7 in a report on Monday, October 23rd. They issued a “buy” rating and a $23.00 price target on the stock. Finally, KeyCorp reissued a “buy” rating and issued a $25.00 price target on shares of Rapid7 in a report on Friday, October 6th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Rapid7 currently has an average rating of “Buy” and an average price target of $21.32.

Shares of Rapid7 (RPD) opened at $21.93 on Friday. The stock has a market cap of $953.10, a price-to-earnings ratio of -22.15 and a beta of 0.68. Rapid7 has a fifty-two week low of $12.20 and a fifty-two week high of $22.58.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Tuesday, November 7th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. The firm had revenue of $50.50 million for the quarter, compared to analyst estimates of $49.87 million. Rapid7 had a negative net margin of 22.44% and a negative return on equity of 115.79%. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.13) EPS. equities analysts anticipate that Rapid7 will post -1.05 earnings per share for the current year.

In other news, insider Lee David Weiner sold 21,125 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $17.93, for a total value of $378,771.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Alan Matthews sold 20,000 shares of the company’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $22.06, for a total transaction of $441,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,137,353 shares of company stock worth $20,992,988. 56.90% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Wasatch Advisors Inc. grew its holdings in Rapid7 by 5.2% during the 4th quarter. Wasatch Advisors Inc. now owns 2,088,008 shares of the technology company’s stock worth $38,962,000 after acquiring an additional 103,934 shares during the last quarter. Vanguard Group Inc. grew its holdings in Rapid7 by 6.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,428,575 shares of the technology company’s stock worth $24,044,000 after acquiring an additional 87,101 shares during the last quarter. ETF Managers Group LLC bought a new stake in Rapid7 during the 2nd quarter worth about $19,395,000. Voya Investment Management LLC grew its holdings in Rapid7 by 3.3% during the 2nd quarter. Voya Investment Management LLC now owns 995,428 shares of the technology company’s stock worth $16,754,000 after acquiring an additional 31,664 shares during the last quarter. Finally, Frontier Capital Management Co. LLC grew its holdings in Rapid7 by 62.3% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 720,672 shares of the technology company’s stock worth $12,684,000 after acquiring an additional 276,627 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

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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.

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