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

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

RPD has been the subject of a number of other research reports. BidaskClub cut Rapid7 from a hold rating to a sell rating in a report on Friday, June 19th. Monness Crespi & Hardt reduced their target price on Rapid7 from $72.00 to $60.00 and set a buy rating for the company in a report on Wednesday, April 29th. Mizuho increased their target price on Rapid7 from $50.00 to $53.00 and gave the company a buy rating in a report on Friday, May 8th. Barclays reduced their target price on Rapid7 from $51.00 to $49.00 and set an overweight rating for the company in a report on Monday, May 4th. Finally, Cowen reduced their target price on Rapid7 from $70.00 to $55.00 and set an outperform rating for the company in a report on Tuesday, April 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Rapid7 currently has an average rating of Buy and a consensus price target of $60.64.

Shares of RPD opened at $51.02 on Friday. Rapid7 has a 52 week low of $31.34 and a 52 week high of $66.01. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 3.40. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of -38.65 and a beta of 1.11. The stock’s 50-day moving average price is $48.34 and its 200-day moving average price is $50.31.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). The company had revenue of $94.34 million during the quarter, compared to analysts’ expectations of $93.82 million. Rapid7 had a negative return on equity of 55.85% and a negative net margin of 18.70%. Rapid7’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.02 EPS. As a group, equities analysts anticipate that Rapid7 will post -1.29 EPS for the current fiscal year.

In related news, insider Lee David Weiner sold 11,205 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $46.32, for a total value of $519,015.60. Following the completion of the transaction, the insider now directly owns 160,369 shares in the company, valued at $7,428,292.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 11,580 shares of company stock valued at $535,503 over the last quarter. 4.60% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in RPD. Wasatch Advisors Inc. boosted its position in shares of Rapid7 by 69.7% during the first quarter. Wasatch Advisors Inc. now owns 1,961,483 shares of the technology company’s stock worth $84,991,000 after buying an additional 805,452 shares during the period. Pictet Asset Management Ltd. boosted its position in shares of Rapid7 by 144.9% during the fourth quarter. Pictet Asset Management Ltd. now owns 1,095,427 shares of the technology company’s stock worth $61,366,000 after buying an additional 648,064 shares during the period. GW&K Investment Management LLC boosted its position in shares of Rapid7 by 54.0% during the first quarter. GW&K Investment Management LLC now owns 1,248,570 shares of the technology company’s stock worth $54,100,000 after buying an additional 437,621 shares during the period. Wellington Management Group LLP boosted its position in shares of Rapid7 by 17.8% during the first quarter. Wellington Management Group LLP now owns 2,651,097 shares of the technology company’s stock worth $114,872,000 after buying an additional 400,001 shares during the period. Finally, Norges Bank purchased a new position in Rapid7 in the fourth quarter valued at $19,986,000. Institutional investors and hedge funds own 91.87% of the company’s stock.

About Rapid7

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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