Rapid7 (NASDAQ:RPD) Shares Down 6.1%

Rapid7 Inc (NASDAQ:RPD) shares were down 6.1% during mid-day trading on Monday . The company traded as low as $50.71 and last traded at $52.33, approximately 1,098,581 shares traded hands during trading. An increase of 73% from the average daily volume of 635,477 shares. The stock had previously closed at $55.73.

A number of research firms have recently issued reports on RPD. Nomura began coverage on Rapid7 in a research note on Friday, June 28th. They issued a “buy” rating and a $70.00 target price for the company. ValuEngine cut Rapid7 from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 4th. Needham & Company LLC lifted their price target on shares of Rapid7 from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Barclays reissued a “buy” rating and issued a $69.00 price target on shares of Rapid7 in a report on Thursday, July 18th. Finally, Morgan Stanley boosted their price target on shares of Rapid7 from $51.00 to $61.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Rapid7 currently has a consensus rating of “Buy” and an average price target of $62.24.

The company has a 50 day moving average of $56.35 and a 200 day moving average of $53.74. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of -49.28 and a beta of 1.23. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 2.87.

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

In other news, insider Lee David Weiner sold 20,556 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $54.93, for a total transaction of $1,129,141.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christina Luconi sold 3,087 shares of Rapid7 stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $53.75, for a total transaction of $165,926.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,143 shares of company stock worth $4,414,742. 4.90% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in Rapid7 by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 464,896 shares of the technology company’s stock valued at $14,485,000 after purchasing an additional 31,004 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Rapid7 by 1,019.1% during the first quarter. BNP Paribas Arbitrage SA now owns 8,494 shares of the technology company’s stock worth $430,000 after purchasing an additional 7,735 shares during the last quarter. Harvest Group Wealth Management LLC bought a new stake in shares of Rapid7 during the first quarter worth $25,000. Moors & Cabot Inc. acquired a new stake in shares of Rapid7 in the first quarter valued at $832,000. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Rapid7 by 55.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 12,892 shares of the technology company’s stock valued at $652,000 after buying an additional 4,621 shares in the last quarter. Institutional investors and hedge funds own 91.24% of the company’s stock.

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.

Further Reading: What is a price target?

Receive News & Ratings for Rapid7 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rapid7 and related companies with MarketBeat.com's FREE daily email newsletter.