Millrace Asset Group Inc. boosted its position in shares of Rapid7, Inc. (NASDAQ:RPD) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,600 shares of the technology company’s stock after acquiring an additional 166 shares during the period. Millrace Asset Group Inc.’s holdings in Rapid7 were worth $2,328,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Brinker Capital Investments LLC bought a new stake in shares of Rapid7 in the 2nd quarter valued at approximately $2,511,000. Davy Global Fund Management Ltd grew its position in Rapid7 by 58.0% during the 1st quarter. Davy Global Fund Management Ltd now owns 28,870 shares of the technology company’s stock worth $2,154,000 after acquiring an additional 10,603 shares during the last quarter. HighTower Advisors LLC bought a new stake in Rapid7 during the 1st quarter worth approximately $220,000. Quadrature Capital Ltd bought a new stake in Rapid7 during the 1st quarter worth approximately $595,000. Finally, GW&K Investment Management LLC grew its position in Rapid7 by 9.2% during the 1st quarter. GW&K Investment Management LLC now owns 1,403,726 shares of the technology company’s stock worth $104,732,000 after acquiring an additional 117,877 shares during the last quarter.
Several research firms have issued reports on RPD. Raymond James upped their price objective on Rapid7 from $105.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, August 5th. Mizuho upped their price objective on Rapid7 from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, August 5th. Needham & Company LLC upped their price objective on Rapid7 from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 5th. Robert W. Baird upped their price objective on Rapid7 from $95.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, August 5th. Finally, Piper Sandler upped their price objective on Rapid7 from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, July 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $121.36.
Shares of RPD traded up $0.04 during trading hours on Tuesday, reaching $118.64. The stock had a trading volume of 5,057 shares, compared to its average volume of 569,103. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 5.29. Rapid7, Inc. has a 52 week low of $57.73 and a 52 week high of $125.32. The firm has a 50-day moving average of $114.76 and a 200 day moving average of $94.79. The company has a market cap of $6.62 billion, a P/E ratio of -53.14 and a beta of 1.34.
Rapid7 (NASDAQ:RPD) last released its earnings results on Wednesday, August 4th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.04. The firm had revenue of $126.42 million during the quarter, compared to analysts’ expectations of $123.09 million. Rapid7 had a negative return on equity of 177.30% and a negative net margin of 25.64%. The company’s revenue was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 EPS. As a group, equities analysts expect that Rapid7, Inc. will post -1.92 earnings per share for the current year.
Rapid7 Company Profile
Rapid7, Inc engages in the provision of cyber security analytics and automation services. Its products include Metasploit, Nexpose, AppSpider, tCell by Rapid7, as well as insight platforms such as InsightDR, InsightIVM, InsightAppSec, InsightConnect, and InsightOps. It also offers security and product consulting services.
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