Rapid7 (NASDAQ:RPD) had its price objective decreased by Raymond James from $75.00 to $72.00 in a research note released on Tuesday morning, BenzingaRatingsTable reports. Raymond James currently has a strong-buy rating on the technology company’s stock.
Several other analysts also recently issued reports on the company. Needham & Company LLC reissued a buy rating and issued a $72.00 price target on shares of Rapid7 in a report on Tuesday, November 5th. Piper Jaffray Companies assumed coverage on Rapid7 in a research report on Monday, December 9th. They issued an overweight rating and a $67.00 target price on the stock. BidaskClub cut Rapid7 from a buy rating to a hold rating in a research report on Friday, February 7th. Zacks Investment Research cut Rapid7 from a hold rating to a sell rating in a research report on Wednesday, January 8th. Finally, Robert W. Baird restated a buy rating and issued a $72.00 target price on shares of Rapid7 in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $65.61.
Shares of NASDAQ RPD opened at $55.23 on Tuesday. The company has a market cap of $2.73 billion, a price-to-earnings ratio of -50.21 and a beta of 1.22. Rapid7 has a 12-month low of $42.83 and a 12-month high of $66.01. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.97. The stock’s 50 day simple moving average is $60.21 and its 200 day simple moving average is $54.67.
Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Monday, February 10th. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.04. The business had revenue of $91.65 million for the quarter, compared to the consensus estimate of $88.21 million. Rapid7 had a negative return on equity of 41.54% and a negative net margin of 16.47%. The business’s revenue was up 33.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) EPS. As a group, equities analysts forecast that Rapid7 will post -0.56 earnings per share for the current fiscal year.
In other news, insider Christina Luconi sold 8,088 shares of Rapid7 stock in a transaction on Monday, November 18th. The stock was sold at an average price of $55.34, for a total transaction of $447,589.92. Following the transaction, the insider now directly owns 140,685 shares in the company, valued at approximately $7,785,507.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Corey E. Thomas sold 15,000 shares of Rapid7 stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $55.00, for a total value of $825,000.00. Following the transaction, the chief executive officer now owns 457,462 shares in the company, valued at $25,160,410. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,088 shares of company stock worth $5,014,670. 4.90% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of RPD. Pictet Asset Management Ltd. grew its holdings in shares of Rapid7 by 144.9% in the 4th quarter. Pictet Asset Management Ltd. now owns 1,095,427 shares of the technology company’s stock worth $61,366,000 after acquiring an additional 648,064 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Rapid7 by 328.0% in the 4th quarter. Raymond James & Associates now owns 284,711 shares of the technology company’s stock worth $15,950,000 after acquiring an additional 218,197 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Rapid7 by 605.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 232,373 shares of the technology company’s stock worth $13,018,000 after acquiring an additional 199,417 shares during the last quarter. GW&K Investment Management LLC grew its holdings in shares of Rapid7 by 21.1% in the 3rd quarter. GW&K Investment Management LLC now owns 840,643 shares of the technology company’s stock worth $38,157,000 after acquiring an additional 146,213 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Rapid7 by 150.3% in the 4th quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 240,813 shares of the technology company’s stock worth $13,490,000 after acquiring an additional 144,620 shares during the last quarter. Institutional investors and hedge funds own 90.27% of the company’s stock.
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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