BidaskClub Downgrades Rapid7 (NASDAQ:RPD) to Hold

BidaskClub lowered shares of Rapid7 (NASDAQ:RPD) from a buy rating to a hold rating in a research report sent to investors on Saturday, BidAskClub reports.

A number of other equities analysts also recently weighed in on the company. BTIG Research upped their price target on Rapid7 to $62.00 and gave the stock a positive rating in a research report on Friday, May 3rd. Northland Securities set a $75.00 price target on Rapid7 and gave the stock a buy rating in a research report on Monday, July 15th. DA Davidson upped their price target on Rapid7 to $52.00 and gave the stock a neutral rating in a research report on Monday, May 6th. Nomura started coverage on Rapid7 in a research report on Friday, June 28th. They set a buy rating and a $70.00 price target for the company. Finally, Barclays reaffirmed a buy rating and set a $69.00 price target on shares of Rapid7 in a research report on Thursday, July 18th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $62.24.

NASDAQ:RPD opened at $53.71 on Friday. Rapid7 has a twelve month low of $26.27 and a twelve month high of $66.01. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 2.87. The business has a 50 day moving average price of $59.78 and a two-hundred day moving average price of $52.67. The company has a market cap of $2.61 billion, a P/E ratio of -53.18 and a beta of 1.18.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $78.96 million during the quarter, compared to the consensus estimate of $75.14 million. During the same quarter in the prior year, the firm posted ($0.13) EPS. The business’s revenue was up 35.1% on a year-over-year basis. As a group, analysts anticipate that Rapid7 will post -0.62 earnings per share for the current fiscal year.

In other news, CFO Jeffrey Kalowski sold 37,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $53.73, for a total value of $2,014,875.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy P. Mcadam sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $52.51, for a total value of $525,100.00. The disclosure for this sale can be found here. In the last three months, insiders sold 88,087 shares of company stock valued at $4,728,576. 4.90% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Rapid7 by 26.4% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,038 shares of the technology company’s stock valued at $61,000 after purchasing an additional 217 shares during the last quarter. RPg Family Wealth Advisory LLC lifted its holdings in Rapid7 by 8.3% during the 1st quarter. RPg Family Wealth Advisory LLC now owns 3,790 shares of the technology company’s stock valued at $192,000 after purchasing an additional 290 shares during the last quarter. Private Capital Group LLC lifted its holdings in Rapid7 by 80.4% during the 1st quarter. Private Capital Group LLC now owns 745 shares of the technology company’s stock valued at $38,000 after purchasing an additional 332 shares during the last quarter. Harvest Group Wealth Management LLC acquired a new stake in Rapid7 during the 1st quarter valued at $25,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Rapid7 by 30.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,364 shares of the technology company’s stock valued at $137,000 after purchasing an additional 554 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

About Rapid7

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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Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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