Rapid7 (RPD) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Rapid7 (NASDAQ:RPD) from a buy rating to a hold rating in a research report released on Thursday.

According to Zacks, “Rapid7, Inc. offers security data and analytics solutions. The Company provides solutions which consist of threat exposure management, incident detection and response solutions as well as security advisory services. Rapid7, Inc. is based in Boston, United States. “

Other equities research analysts have also issued research reports about the stock. KeyCorp raised their target price on shares of Rapid7 from $35.00 to $38.00 and gave the stock an overweight rating in a report on Tuesday, August 7th. Monness Crespi & Hardt raised their target price on shares of Rapid7 from $35.00 to $38.00 and gave the stock a buy rating in a report on Tuesday, August 7th. Royal Bank of Canada restated a buy rating and issued a $40.00 target price on shares of Rapid7 in a report on Tuesday, August 7th. BidaskClub upgraded shares of Rapid7 from a buy rating to a strong-buy rating in a report on Saturday, August 25th. Finally, Needham & Company LLC raised their target price on shares of Rapid7 from $37.00 to $42.00 and gave the stock a buy rating in a report on Friday, September 21st. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Rapid7 has a consensus rating of Buy and a consensus price target of $35.79.

RPD stock opened at $32.78 on Thursday. Rapid7 has a 52 week low of $18.25 and a 52 week high of $39.40. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.83 and a quick ratio of 1.83. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -31.22 and a beta of 1.02.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.20) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.05. The business had revenue of $62.40 million during the quarter, compared to analyst estimates of $59.50 million. Rapid7 had a negative net margin of 23.83% and a negative return on equity of 76.86%. Rapid7’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.15) earnings per share. Research analysts anticipate that Rapid7 will post -1.02 EPS for the current fiscal year.

In related news, COO Andrew F. Burton sold 7,000 shares of Rapid7 stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $36.23, for a total transaction of $253,610.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vii Lp Tcv sold 182,600 shares of Rapid7 stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $37.96, for a total transaction of $6,931,496.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,418,565 shares of company stock valued at $80,902,239 in the last quarter. 25.60% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. UBS Group AG increased its position in Rapid7 by 176.4% during the 1st quarter. UBS Group AG now owns 34,783 shares of the technology company’s stock valued at $889,000 after purchasing an additional 22,199 shares during the period. Granahan Investment Management Inc. MA increased its position in Rapid7 by 2.6% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 317,811 shares of the technology company’s stock valued at $8,969,000 after purchasing an additional 8,141 shares during the period. MetLife Investment Advisors LLC increased its position in Rapid7 by 30.9% during the 2nd quarter. MetLife Investment Advisors LLC now owns 16,703 shares of the technology company’s stock valued at $471,000 after purchasing an additional 3,939 shares during the period. Emerald Advisers Inc. PA grew its position in shares of Rapid7 by 10.5% in the 3rd quarter. Emerald Advisers Inc. PA now owns 865,896 shares of the technology company’s stock worth $31,969,000 after buying an additional 82,086 shares during the last quarter. Finally, Sun Life Financial INC purchased a new position in shares of Rapid7 in the 2nd quarter worth approximately $486,000. 79.60% of the stock is currently owned by institutional investors and hedge funds.

Rapid7 Company Profile

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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