Oak Ridge Investments LLC acquired a new position in shares of Rapid7 Inc (NASDAQ:RPD) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 219,173 shares of the technology company’s stock, valued at approximately $11,092,000.
A number of other hedge funds also recently modified their holdings of RPD. Harvest Group Wealth Management LLC acquired a new stake in shares of Rapid7 in the first quarter valued at approximately $25,000. Private Capital Group LLC raised its position in shares of Rapid7 by 80.4% in the first quarter. Private Capital Group LLC now owns 745 shares of the technology company’s stock valued at $38,000 after buying an additional 332 shares in the last quarter. Pearl River Capital LLC acquired a new stake in shares of Rapid7 in the fourth quarter valued at approximately $47,000. Acadian Asset Management LLC acquired a new stake in shares of Rapid7 in the first quarter valued at approximately $51,000. Finally, Quantamental Technologies LLC acquired a new stake in shares of Rapid7 in the first quarter valued at approximately $76,000. Hedge funds and other institutional investors own 83.91% of the company’s stock.
A number of research firms have recently weighed in on RPD. Cowen began coverage on shares of Rapid7 in a research report on Thursday. They issued an “outperform” rating and a $63.00 price target for the company. Zacks Investment Research downgraded shares of Rapid7 from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. DA Davidson lifted their price target on shares of Rapid7 to $52.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. Morgan Stanley set a $53.00 price target on shares of Rapid7 and gave the company a “hold” rating in a research report on Friday, May 3rd. Finally, BTIG Research lifted their price target on shares of Rapid7 to $62.00 and gave the company a “positive” rating in a research report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $55.19.
Shares of RPD opened at $52.43 on Friday. Rapid7 Inc has a one year low of $26.27 and a one year high of $57.00. The company has a market cap of $2.53 billion, a price-to-earnings ratio of -51.91 and a beta of 1.20. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.49 and a quick ratio of 1.49.
Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.24. Rapid7 had a negative net margin of 19.35% and a negative return on equity of 46.34%. The business had revenue of $73.20 million during the quarter, compared to the consensus estimate of $69.86 million. During the same period in the previous year, the business earned ($0.19) earnings per share. The company’s revenue was up 34.3% on a year-over-year basis. On average, sell-side analysts anticipate that Rapid7 Inc will post -0.61 earnings per share for the current fiscal year.
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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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