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

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Zacks Investment Research downgraded shares of Rapid7 (NASDAQ:RPD) from a hold rating to a sell rating in a research report sent to investors on Saturday, 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. “

Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of Rapid7 from a hold rating to a sell rating in a report on Friday, June 19th. Cowen dropped their target price on shares of Rapid7 from $70.00 to $55.00 and set an outperform rating for the company in a research note on Tuesday, April 21st. Barclays dropped their target price on shares of Rapid7 from $51.00 to $49.00 and set an overweight rating for the company in a research note on Monday, May 4th. Monness Crespi & Hardt dropped their target price on shares of Rapid7 from $72.00 to $60.00 and set a buy rating for the company in a research note on Wednesday, April 29th. Finally, Raymond James boosted their target price on shares of Rapid7 from $53.00 to $64.00 and gave the stock a strong-buy rating in a research note on Friday, May 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Rapid7 has a consensus rating of Buy and a consensus target price of $60.64.

Shares of Rapid7 stock opened at $51.02 on Friday. The company has a debt-to-equity ratio of 3.40, a quick ratio of 1.29 and a current ratio of 1.29. The firm’s 50-day simple moving average is $48.34 and its 200-day simple moving average is $50.31. Rapid7 has a twelve month low of $31.34 and a twelve month high of $66.01. The firm has a market cap of $2.55 billion, a P/E ratio of -38.65 and a beta of 1.11.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.09). Rapid7 had a negative net margin of 18.70% and a negative return on equity of 55.85%. The firm had revenue of $94.34 million during the quarter, compared to the consensus estimate of $93.82 million. During the same period last year, the firm posted $0.02 EPS. The firm’s quarterly revenue was up 28.9% on a year-over-year basis. On average, equities analysts forecast that Rapid7 will post -1.29 earnings per share for the current fiscal year.

In related news, insider Lee David Weiner sold 11,205 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $46.32, for a total transaction of $519,015.60. Following the completion of the sale, the insider now directly owns 160,369 shares of the company’s stock, valued at $7,428,292.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders have sold 11,580 shares of company stock valued at $535,503. 4.60% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Rapid7 by 0.4% during the first quarter. BlackRock Inc. now owns 3,814,724 shares of the technology company’s stock valued at $165,294,000 after purchasing an additional 13,746 shares during the period. Wellington Management Group LLP grew its holdings in Rapid7 by 17.8% during the first quarter. Wellington Management Group LLP now owns 2,651,097 shares of the technology company’s stock valued at $114,872,000 after purchasing an additional 400,001 shares during the period. Wasatch Advisors Inc. grew its holdings in Rapid7 by 69.7% during the first quarter. Wasatch Advisors Inc. now owns 1,961,483 shares of the technology company’s stock valued at $84,991,000 after purchasing an additional 805,452 shares during the period. Pictet Asset Management Ltd. grew its holdings in Rapid7 by 24.7% during the first quarter. Pictet Asset Management Ltd. now owns 1,365,827 shares of the technology company’s stock valued at $59,181,000 after purchasing an additional 270,400 shares during the period. Finally, Macquarie Group Ltd. grew its holdings in Rapid7 by 16.2% during the fourth quarter. Macquarie Group Ltd. now owns 1,306,481 shares of the technology company’s stock valued at $73,189,000 after purchasing an additional 182,019 shares during the period. Hedge funds and other institutional investors own 91.87% of the company’s stock.

Rapid7 Company Profile

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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