Rapid7 (RPD) Shares Up 5.9%
Rapid7, Inc. (NASDAQ:RPD)’s share price shot up 5.9% on Wednesday . The company traded as high as $19.66 and last traded at $19.64. 519,693 shares traded hands during trading, an increase of 140% from the average session volume of 216,696 shares. The stock had previously closed at $18.54.
A number of brokerages recently weighed in on RPD. Royal Bank of Canada raised 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. 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 on the stock. BidaskClub cut Rapid7 from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. KeyCorp reissued a “buy” rating and set a $25.00 price objective on shares of Rapid7 in a report on Friday, October 6th. Finally, Zacks Investment Research cut Rapid7 from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. Rapid7 currently has a consensus rating of “Buy” and a consensus price target of $20.83.
Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Tuesday, November 7th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.02. Rapid7 had a negative return on equity of 115.79% and a negative net margin of 22.44%. The business had revenue of $50.50 million for the quarter, compared to analyst estimates of $49.87 million. During the same period last year, the company earned ($0.13) EPS. Rapid7’s revenue for the quarter was up 25.3% compared to the same quarter last year. research analysts predict that Rapid7, Inc. will post -1.03 earnings per share for the current fiscal year.
In other news, major shareholder Bain Capital Venture Investors sold 898,517 shares of Rapid7 stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $18.30, for a total value of $16,442,861.10. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Lee David Weiner sold 20,000 shares of Rapid7 stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $18.41, for a total value of $368,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,117,353 shares of company stock worth $20,494,788. 56.90% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RPD. ETF Managers Group LLC bought a new stake in shares of Rapid7 during the second quarter valued at approximately $19,395,000. Laurion Capital Management LP bought a new stake in shares of Rapid7 during the second quarter valued at approximately $11,614,000. Wasatch Advisors Inc. boosted its position in shares of Rapid7 by 51.1% during the second quarter. Wasatch Advisors Inc. now owns 1,975,177 shares of the technology company’s stock valued at $33,242,000 after purchasing an additional 668,273 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Rapid7 during the third quarter valued at approximately $7,896,000. Finally, Frontier Capital Management Co. LLC bought a new stake in shares of Rapid7 during the second quarter valued at approximately $7,473,000. Institutional investors own 70.71% of the company’s stock.
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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