Rapid7 (NASDAQ:RPD) Rating Lowered to Sell at Zacks Investment Research

Rapid7 (NASDAQ:RPD – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, Zacks.com reports.

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. “

Several other analysts have also recently issued reports on RPD. Mizuho decreased their price objective on Rapid7 from $155.00 to $135.00 in a report on Tuesday, January 18th. StockNews.com initiated coverage on Rapid7 in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Wolfe Research initiated coverage on Rapid7 in a research report on Monday, April 11th. They issued an “outperform” rating and a $122.00 price objective on the stock. The Goldman Sachs Group downgraded Rapid7 from a “buy” rating to a “neutral” rating and set a $130.00 price objective on the stock. in a research report on Tuesday, April 12th. Finally, TheStreet downgraded Rapid7 from a “c-” rating to a “d+” rating in a research report on Friday, January 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $130.56.

NASDAQ RPD opened at $107.49 on Tuesday. Rapid7 has a one year low of $72.96 and a one year high of $145.00. The stock has a 50-day moving average of $105.28 and a 200 day moving average of $111.68. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of -40.72 and a beta of 1.34.

Rapid7 (NASDAQ:RPD – Get Rating) last posted its quarterly earnings data on Wednesday, February 9th. The technology company reported ($0.16) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.69) by $0.53. The company had revenue of $151.64 million for the quarter, compared to analysts’ expectations of $146.11 million. During the same period in the previous year, the firm earned ($0.40) earnings per share. On average, equities research analysts anticipate that Rapid7 will post -2.15 EPS for the current year.

In related news, COO Andrew F. Burton sold 5,498 shares of the company’s stock in a transaction that occurred on Tuesday, March 22nd. The stock was sold at an average price of $110.00, for a total value of $604,780.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thomas E. Schodorf sold 260 shares of the stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $112.54, for a total transaction of $29,260.40. Following the completion of the transaction, the director now owns 5,290 shares in the company, valued at approximately $595,336.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,008 shares of company stock valued at $5,660,472. 3.60% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of RPD. Moors & Cabot Inc. boosted its position in Rapid7 by 14.8% in the 3rd quarter. Moors & Cabot Inc. now owns 25,000 shares of the technology company’s stock worth $27,000 after purchasing an additional 3,222 shares in the last quarter. Clearstead Advisors LLC purchased a new stake in Rapid7 in the 3rd quarter worth approximately $30,000. UMB Bank N A MO purchased a new stake in Rapid7 in the 4th quarter worth approximately $33,000. Signaturefd LLC boosted its position in Rapid7 by 57.7% in the 3rd quarter. Signaturefd LLC now owns 309 shares of the technology company’s stock worth $35,000 after purchasing an additional 113 shares in the last quarter. Finally, Evoke Wealth LLC purchased a new stake in Rapid7 in the 4th quarter worth approximately $35,000.

About Rapid7 (Get Rating)

Rapid7, Inc provides cyber security solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cyber security risk management programs. Its platform includes InsightIDR, an incident detection and response solution; InsightCloudSec, a solution that integrates posture management, workload protection, infrastructure entitlements management, infrastructure-as-code security, and Kubernetes protection; InsightVM, a vulnerability risk management solution that is designed to provide a way to collect vulnerability data, prioritize risk, and automate remediation; InsightAppSec, which provides application security testing that analyzes web applications for security vulnerabilities; and InsightConnect, a security orchestration and automation response solution that is used by security professionals.

See Also