Rapid7 (RPD) Trading Up 6.3%

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Rapid7 Inc (NASDAQ:RPD)’s share price was up 6.3% during mid-day trading on Wednesday . The stock traded as high as $36.60 and last traded at $36.24. Approximately 612,545 shares changed hands during trading, an increase of 31% from the average daily volume of 468,500 shares. The stock had previously closed at $34.09.

Several equities analysts have recently issued reports on RPD shares. BidaskClub downgraded shares of Rapid7 from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Stifel Nicolaus boosted their price target on shares of Rapid7 from $42.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, October 2nd. Needham & Company LLC boosted their price target on shares of Rapid7 from $37.00 to $42.00 and gave the company a “buy” rating in a report on Friday, September 21st. Zacks Investment Research raised shares of Rapid7 from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Wednesday, October 10th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $40.00 price target on shares of Rapid7 in a report on Tuesday, August 7th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $35.21.

The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -34.53 and a beta of 1.13.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Monday, August 6th. The technology company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.05. The business had revenue of $58.40 million during the quarter, compared to the consensus estimate of $55.14 million. Rapid7 had a negative net margin of 24.40% and a negative return on equity of 105.43%. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.14) earnings per share. On average, research analysts anticipate that Rapid7 Inc will post -1.01 EPS for the current year.

In other Rapid7 news, insider Vii Lp Tcv sold 182,600 shares of the business’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $37.96, for a total value of $6,931,496.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Jeffrey Kalowski sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $32.65, for a total transaction of $653,000.00. The disclosure for this sale can be found here. Insiders sold 255,732 shares of company stock valued at $9,505,242 in the last ninety days. Corporate insiders own 25.60% of the company’s stock.

A number of institutional investors have recently modified their holdings of RPD. Barclays PLC raised its holdings in Rapid7 by 68.6% during the 1st quarter. Barclays PLC now owns 5,718 shares of the technology company’s stock worth $146,000 after buying an additional 2,327 shares during the period. Centaurus Financial Inc. acquired a new stake in Rapid7 during the 2nd quarter worth about $169,000. Cubist Systematic Strategies LLC acquired a new stake in Rapid7 during the 1st quarter worth about $213,000. Harvest Fund Management Co. Ltd raised its holdings in Rapid7 by 598.9% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 8,918 shares of the technology company’s stock worth $329,000 after buying an additional 7,642 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in Rapid7 during the 2nd quarter worth about $327,000. Hedge funds and other institutional investors own 78.40% 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 enables 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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