Rapid7 (NASDAQ:RPD) Upgraded at BidaskClub

BidaskClub upgraded shares of Rapid7 (NASDAQ:RPD) from a sell rating to a hold rating in a report issued on Tuesday morning, BidAskClub reports.

Several other equities research analysts also recently commented on RPD. ValuEngine downgraded shares of Rapid7 from a buy rating to a hold rating in a research note on Friday, September 27th. Northland Securities set a $75.00 price objective on shares of Rapid7 and gave the stock a buy rating in a research note on Monday, July 15th. Robert W. Baird set a $72.00 price objective on shares of Rapid7 and gave the stock a buy rating in a research note on Sunday, September 15th. Needham & Company LLC lifted their price objective 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. Finally, SunTrust Banks initiated coverage on shares of Rapid7 in a research note on Wednesday, October 2nd. They set a buy rating and a $66.00 price objective for the company. Five investment 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 stock. The stock presently has a consensus rating of Buy and an average target price of $63.22.

NASDAQ RPD opened at $50.00 on Tuesday. The firm’s fifty day simple moving average is $50.72 and its two-hundred day simple moving average is $53.88. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 2.87. Rapid7 has a 12-month low of $26.27 and a 12-month high of $66.01.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.26. Rapid7 had a negative net margin of 17.63% and a negative return on equity of 39.52%. The business had revenue of $78.96 million for the quarter, compared to analyst estimates of $75.14 million. During the same period in the previous year, the company earned ($0.13) earnings per share. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. On average, analysts predict that Rapid7 will post -0.62 earnings per share for the current fiscal year.

In related news, COO Andrew F. Burton sold 49,438 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $51.61, for a total transaction of $2,551,495.18. Also, CEO Corey E. Thomas sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $55.24, for a total transaction of $1,104,800.00. The disclosure for this sale can be found here. Insiders have sold 143,462 shares of company stock valued at $7,610,674 over the last quarter. Insiders own 4.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of RPD. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Rapid7 by 26.4% in the second 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 in the last quarter. RPg Family Wealth Advisory LLC increased 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 period. Zurcher Kantonalbank Zurich Cantonalbank increased 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 period. Signaturefd LLC purchased a new position in Rapid7 during the 2nd quarter valued at about $46,000. Finally, MML Investors Services LLC increased its holdings in Rapid7 by 10.0% during the 2nd quarter. MML Investors Services LLC now owns 9,223 shares of the technology company’s stock valued at $533,000 after purchasing an additional 837 shares during the period. Institutional investors own 91.02% of the company’s stock.

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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